Feeders Take Advantage

This is Matt Rice with today’s Market Line Report for Tuesday. Feeder Cattle took advantage of lower fee prices Monday to kick the week off with a rally. 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 7 ½, to finish at 699 ¾. July Corn was up 8 ¾, to close at 652 ½. Kansas City Hard Red Winter Wheat prices for July were dn 5 ½, to settle at 652 ¼.

Portland prices for Club Wheat with Ordinary Protein were Unch, Ranging from 7-05 to 7-90. Soft white wheat of Ordinary Protein for July was Unch, ranging from 6-70 to 7-90. Hard Red Winter Wheat with 11 ½ percent Protein, for June were dn 5 ½, ranging from 7-62 ¼, to 7-72 ¼. DNS wheat with 14 % protein, prices for June were dn 25 ¾, ranging from 8-20, to 8-35.

Live Cattle for Aug were dn $.40, closing at 118.42 ½. Aug Feeder cattle were up $1.60, to finish the day at 152.75. June Class III milk was dn $.44, to settle at 18.92.