Cattle Continue to Create Demand

Cattle Continue to Create Demand

Matt Rice
Matt Rice
This is Matt Rice with today’s Market Line Report for Monday. Cattle continue to create demand, as prices hold firm in both live and feeders. Let’s go to Virginia McGathey with the CME Group to hear the details.

McGathey “And Feeders were up again. They’re really leading the way. That month end rally, is supported by some technical buying but I think that there’s some surging there with the Sept. contract up at $1.46. The demand continues to come in and it certainly looks like there’s a lot of optimism in that market.”

Chicago Wheat prices for Sept. closed Friday up 1 ¾, to finish the week at 531 ¼.

Dec. Corn was up a ¼ of cent, at 327. Kansas City Hard Red Winter Wheat prices for Sept. were up 2 ½ to settle at $4.42 ½.

Portland prices for soft white wheat of Ordinary Protein for Aug. ended the day unch ranging from 5-70 to 5-75. Hard Red Winter Wheat with 11 ½ percent Protein, prices for Aug. were up 2 ½, ranging from 5-77 ½ to 5-92 ½. DNS wheat with 14 % protein, prices for Aug. were up 1, ranging from 6-09 to 6-24.

Live Cattle for Oct. were up $1.12 ½ at 107.87 ½. Sept. Feeder cattle were up $1.80, to finish the week at 146.22 ½. Aug. Class III milk was up 23 cents at 21.03.

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