Beef Sharply Lower

This is Matt Rice with today’s Market Line Report for Tuesday. The beef market took some big hits Monday, prices nearly limiting down while grain continues to rally. 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 1 ¾, to finish at 627. Dec. Corn up 3 ¼, to close at 405 ¼. Kansas City Hard Red Winter Wheat prices for Dec. were up 4 ¼, to close at 563.

Portland Hard Red Winter Wheat with 11 ½ percent Protein, for Jan. were 3 ¾, ranging from 7-15 to 7-20. Soft white wheat of Ordinary Protein for Jan. ended the day Unch to up 15, ranging from 5-90 to 6-15. DNS wheat with 14 % protein, prices for Jan. were 9 ½, ranging from 7-01 to 7-11.

Live Cattle for Dec. were dn $3.47 ½, closing at 105.15. Jan. Feeder cattle were dn $4.10, to finish the day at 125.22 ½. Nov. Class III milk was up $.73, at 21.65.