Cattle Sharply Lower

This is Matt Rice with today’s Market Line Report for Tuesday. Feeder and Live Cattle closing lower once again, traders are seeing less demand and uncertainty in the market. Let’s go to Virginia McGathey with the CME Group, as she covers more on the beef market.

McGathey“ .”

Chicago Wheat prices for Dec. closed the day up ½, to finish at 594 ¼. Dec. Corn dn 6, to close at 389. Kansas City Hard Red Winter Wheat prices for Dec. were dn 5, to close at 530 ½.

Hard Red Winter Wheat with 11 ½ percent Protein, for Dec. were dn 5, ranging from 6-75 ½ to 7-10 ½. Soft white wheat of Ordinary Protein for Dec. ended the day UNCH, ranging from 5-65 to 5-80. DNS wheat with 14 % protein, prices for Dec. were dn 1, ranging from 6-67 ¾ to 6-82 ¾.

Live Cattle for Dec. were dn $1.77 ½, closing at 110.82 ½. Jan. Feeder cattle were dn $.35, to finish the day at 133.65. Nov. Class III milk was up $.75, at 20.48.