Cattle Continue Down Rocky Path

This is Matt Rice with today’s Market Line Report for Thursday. Cattle continue down a rocky path as prices shift lower, traders looking for answers as fundamental factors suggest a bullish market. 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 10, to finish at 722 ¾. July Corn was dn 10 ½, to close at 644. Kansas City Hard Red Winter Wheat prices for July were dn 14 ¾, to settle at 696 ½.

Portland prices for Soft white wheat of Ordinary Protein for June was Unch, to settle at 6-70 to 7-90. Hard Red Winter Wheat with 11 ½ percent Protein, for June were dn 14 ¾, ranging from 8-11 ½ to 8-16 ½. DNS wheat with 14 % protein, prices for June were dn 15 ¼, ranging from 8-37 to 8-52.

Live Cattle for June were dn $.40, closing at 115.45. Aug Feeder cattle were dn $1.17 ½, to finish the day at 148.90. May Class III milk was up $.02, to settle at 19.22.