Firm Cattle Market

This is Matt Rice with today’s Market Line Report for Monday. Last week’s storms in the Midwest took corn prices for a ride, which ultimately firmed up both Live and Feeder cattle markets. Let’s go to Virginia McGathey, with the CME Group as she shares the details.

McGathey “Cattle was firm. The cash market and box beef prices have been strong and are still strong today. There really hasn’t been much news except that out of Argentina, they canceled the export sales to China because of the Covid virus from 7 plants. So that definitely will create a ripple effect in the market, so we’re going to look for that over the next couple of days. “

Chicago Wheat prices for Sept. closed Friday up 3 ¼, to finish at 500.

Dec. Corn dn ¾, to finish the week at 338. Kansas City Hard Red Winter Wheat prices for Dec. were dn ¼, to close at 435 ¾.

Portland prices for soft white wheat for Sep. ended Friday up 3 ¼, settling at 5-00. Hard Red Winter Wheat with 11 ½ percent Protein, prices for Oct. were dn ¼, at 435 ¾. DNS wheat with 14 % protein, prices for Oct. were up 1 ¼, finishing the week at 512 ¼.

Live Cattle for Oct. were up $.07 ½, closing at 110.22 ½. Oct. Feeder cattle up $1.05, to finish Friday at 147.42 ½. Sept. Class III milk was up $.29, at 16.88.