Cattle Bounce Off Bottom

This is Matt Rice with today’s Market Line Report for Thursday. Feeder cattle shifted higher yesterday after prices bounced off the bottom as traders took advantage of a weaker 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 up 17 ¾, to finish at 744 ½. July Corn was up 11 ¾, to close at 708 ½. Kansas City Hard Red Winter Wheat prices for July were up 17 ¾, to settle at 717.

Portland prices for Club Wheat with Ordinary Protein were Unch, Ranging from 7-05 to 7-90. Soft white wheat of Ordinary Protein for June was Unch, ranging from 6-70 to 7-90. Hard Red Winter Wheat with 11 ½ percent Protein, for June were up 17 ¾, ranging from 8-32 to 8-37. DNS wheat with 14 % protein, prices for June were up 13 ¾, ranging from 8-87 to 9-02.

Live Cattle for June were up $1.40, closing at 114.42 ½. Aug Feeder cattle were up $2.05, to finish the day at 145.22 ½. June Class III milk was dn $.02, to settle at 19.76.