Cattle Holding Their Own
This is Matt Rice with today’s Market Line Report for Thursday. Cattle holding their own, as feedlots continue to wait for packers to make a move. Virginia McGathey with the CME Group, talks about potential higher cash prices coming towards the end of the week.McGathey “Today in the livestock market, cattle were a little easier. That pocket taking is resulting in a little bit of market correction. The uptrend is still intact, so no worries there.”
Chicago Wheat prices for Sept. closed yesterday up 2 ½, to finish the day at 510 ¾.
Dec. Corn was up 3, wrap up the day at 323 ¼. Kansas City Hard Red Winter Wheat prices for Sept. were up 4 ¼ to finish the day at $4.26 ½.
Portland prices for soft white wheat of Ordinary Protein for Sep. ended the day up 5 to Unch, ranging from 5-60 to 5-64. Hard Red Winter Wheat with 11 ½ percent Protein, prices for Sept. were up 4 ¼, ranging from 5-66 ½
to 5-76 ½. DNS wheat with 14 % protein, prices for Sept. were dn ¼, ranging from 5-96 ½ to 6-13 ½.
Live Cattle for Oct. moving slightly down, $.2 ½ lower, finishing at 107.45. Sept. Feeder cattle dn $.15, to close the day at 146.47 ½. Sept. Class III milk was up $.33, at 17.00.