Sell Off Continues In Beef Markets

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Wednesday. The selloff continues in the Beef Market, as prices hit 60 day lows. Let’s go Oliver Sloup with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for May closed the day Dn 11 ½, to finish at 5-43 ½. May Corn was Dn 5 ¼, to finish the day at 4-32 ½. Kansas City Hard Red Winter Wheat prices for May were Dn 12 ¼, to settle at 5-77 ¼.

Portland prices for Club Wheat with 10 ½ % Protein was Unch, ranging from 5-60 to 5-90. Soft white wheat with 10 ½ % Protein prices for May were Unch, ranging 5-55 to 5-70. Hard Red Winter Wheat with 11 ½ percent Protein prices for June were Dn 11 ½, ranging from 6-44 to 6-54. DNS wheat with 14 % protein, prices for May were Dn 12 ¼, ranging from 7-37 ¼ to 7-42 ¼.

Live Cattle for June were Dn $3.22 ½, closing at 178.37 ½. May Feeder Cattle were Dn $5.37 ½, to finish the day at 247.25. April Class III milk was Up $.10, to settle at 15.85.