Wheat Surges Higher
This is Matt Rice with today’s Market Line Report for Monday. Wheat prices surged at the end of the week, while cattle followed trend finishing the week strong. Let’s go to Greg Sanders with the USDA to hear more on the CME Weekly cattle update.
Sanders “ Slaughter cows were steady to $2 lower, and slaughter bulls were firm. Feeder steers, Medium and Large Frame 1 & 2’s 600-700 lbs sold from $1.32 to $1.35.”
Chicago Wheat prices for Dec. closed yesterday up 18 ¾, to finish at 575. Dec. Corn up 3 ¼, to close the Friday at 378 ½. Kansas City Hard Red Winter Wheat prices for Dec. were up 16 ¾, to close at 504 ¼.
Portland prices for Club Wheat of Ordinary protein was Unch, ranging from 5-65 to 5-70. Hard Red Winter Wheat with 11 ½ percent Protein, prices for Oct. were up 16 ¾, ranging from 6-59 ¼ to 6-79 ¼. Soft white wheat of Ordinary Protein for Oct. ended the week Unch to up 5, ranging from 5-25 to 5-55. DNS wheat with 14 % protein, prices for Oct. were up 9 ¾, to settle at 6-86 ¼.
Live Cattle for Dec. were up $.52 ½, closing at 111.85. Oct. Feeder cattle up $.97 ½, to finish Friday at 142.42 ½. Oct. Class III milk was up $55, at 19.59.
