Cattle Continue to Struggle
This is Matt Rice with today’s Market Line Report for Wednesday. Cattle continue to struggle as prices retreat once again, having a difficult time competing with the grain rally. Here’s Virginia McGathey with the CME Group to share more.Chicago Soft Red Winter Wheat prices for July closed the day up 13 ¾, to finish at 675. July Corn was up 14 ½, to close at 606 ½. Kansas City Hard Red Winter Wheat prices for July were up 9 ¾, to settle at 637 ¾.
Portland prices for Ordinary Club Wheat were Unch, ranging from 6-70 to 7-05. Soft white wheat of Ordinary Protein for July was Unch, ranging from 6-70 to 7-00. Hard Red Winter Wheat with 11 ½ percent Protein, for June were up 9 ¾, ranging from 7-52 ¾ to 7-57 ¾. DNS wheat with 14 % protein, prices for June were up 9 ¼, ranging from 7-95 ¼ to 8-05 ¼.
Live Cattle for June were dn $1.95, closing at 117.25. Aug Feeder cattle were dn $2.60, to finish the day at 151.92 ½. May Class III milk was up $.16, to settle at 19.32.