Where's the Beef

I’m Susan Allen with Monday’s Market Line. Where’s the Beef, well here’s Frank Lesh of Future Pat Trading take on the market from the floor of the CME. “

 

Fran Lesh: Livestock markets adjusting to this third quarter supply bump we’ve got beef exports down 15% we’ve got beef imports up considerably due to consideration with the dollar dollar up again this week. We see Australia beef exports or US imports from Australia up 60% this year. We’ve got imports from Mexico up 35% .We’re wondering where the beef is and its coming from imports.”

Here’s where cattle closed for the week

August live cattle ended the week at 146.82 ½ up 32 1/2

August Feeder cattle were 214.95 up 47 1/2 cents

Chicago September Wheat ended Wednesday at 5- 54 1/2 down 8 1/4

September corn closed the day at 4-20 down 9 3/4

Portland prices for soft white wheat August new crop ordinary protein ranging 6.14-6.35 down 8.25-unch

White Club wheat of 10.5 % protein mostly 6 -89 down 8 1/4

August New crop Hard Red Winter wheat with 11.5 percent protein ranging 6 -01 1/2 to 6-26 ½ down 6 3/4

 

DNS wheat with 14 percent protein prices for new crop were

down 7 1/4 ranging between 6 -64 3/4 and 6 -89 3/4 .

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August class III milk ended at 15.99