Cattle Gaining Momentum

Cattle Gaining Momentum

Matt Rice
Matt Rice
This is Matt Rice with today’s Market Line Report for Thursday. Cash trade in the cattle market continues to move higher despite lower volumes. Feeder cattle flirting with new highs, numbers we haven’t seen since Feb. Let’s check in with Virginia McGathey with the CME Group for the details.

McGathey “The cash trade just keeps moving higher and pushing this market up, even though the volume has been a little bit low. So that’s something to watch, to see if the volume continues to slide I would think that maybe the market will not move as high as quickly. “

Chicago Wheat prices for Sept. closed the day dn 3 ¾, to finish at 491 ¼.

Dec. Corn was up 3 ¾, to finish the day at 327 ¼. Kansas City Hard Red Winter Wheat prices for Sept. were up 1, to close the day at 417 ¾.

Portland prices for soft white wheat for Sep. ended the day dn 3 ¾, to close at 4-91 ¼. Hard Red Winter Wheat with 11 ½ percent Protein, prices for Sept. were up 1, at 4-17 ¾. DNS wheat with 14 % protein, prices for Sept. were dn ½, to close yesterday at 4.92 ¼.

Live Cattle for Oct. were up $1.27 ½, closing at 109.57 ½. Sept. Feeder cattle up $1.32 ½, to finish yesterday at 147.95. Sept. Class III milk was dn $.06, at 16.29.

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