Cattle Trending Lower

This is Matt Rice with today’s Market Line Report for Tuesday. Cattle struggle once again as prices shift lower, consumer demand not enough to combat higher feed prices. Let’s go to Virginia McGathey with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for July closed the day dn 1 ¼, to finish at 653 ¾. May Corn was up 6 ½, to close at 592. Kansas City Hard Red Winter Wheat prices for July were up 2 ½, to settle at 618 ¾.

Portland prices for Ordinary Club Wheat were Unch, ranging from 6-70 to 7-05. Soft white wheat of Ordinary Protein for June was Unch, ranging from 6-70 to 6-80. Hard Red Winter Wheat with 11 ½ percent Protein, for June were up 2 ½, ranging from 7-33 ¾ to 7-38 ¾. DNS wheat with 14 % protein, prices for May were up ¼, ranging from 7-84 ½ to 7-89 ½.

Live Cattle for June were dn $.57 ½, closing at 118.60. Aug Feeder cattle were dn $1.77 ½, to finish the day at 152.77 ½. May Class III milk was up $.12, to settle at 19.16.