Wheat Continues Trend Lower

I’m KayDee Gilkey with the Market Line Report for June 1, 2015.
Wheat continues to trend lower regardless of quality concerns. USDA Grain and Livestock Reporter Greg Sanders gives the region’s cattle market update from Friday.
Sanders: “This week in the Northwest we had 2100 head of feeder cattle trade. Compared to last Friday, feeder cattle were steady in a light test. Trade was slow this holiday-shortened week demand was light to moderate. Feeder steers medium to large frames #1s and #2s current FOB price 850 to 900 pounds $194 in Washington; future delivery FOB price 750 to 800 pounds $210 for September October delivery those were in Oregon and 900 pounds at $200 for July delivery also in Oregon.”
Chicago July Wheat ended Friday down 11 and 3/4 cents at 4-77. July corn ended the day down 2 cents at 3-51 and 1/2.
Portland prices for soft white wheat of ordinary protein were steady to down 12 and 1/4 cents for August delivery of new crop ranging between 5-85 and 5-92 and 1/4. White Club wheat of ordinary protein had no nearby price comparisons. May delivery of Hard Red Winter wheat with 11.5 percent protein prices were down 11 and 1/2 cents at mostly 5-96 and 3/4. June delivery of DNS wheat with 14 percent protein prices were down 16 and 1/4 cents ranging between 7-05 and 3/4 and 7-50 and 3/4.
August live cattle were down $1.17 and half on Friday at 152.32 and half. August Feeder cattle were down $2-even at 222.95. July class III milk was up 23 cents at 17-42.