Bearish Cattle Market

This is Matt Rice with today’s Market Line Report for Tuesday. Live Cattle prices continue to struggle after a bearish On-Feed USDA report. Let’s go to Virgnia McGathey with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for July closed the day dn 12, to finish at 662 ¼. July Corn was dn 2 ¼, to close at 657 ¼. Kansas City Hard Red Winter Wheat prices for July were dn 8 ¾, to settle at 615 ¼.

Portland prices for Club Wheat with 10 ½% Protein were Unch, to settle at 8-50. Soft white wheat of Ordinary Protein for July was Unch, ranging from 7-50 to 7-85. Hard Red Winter Wheat with 11 ½ percent Protein, for July were dn 8 ¾, ranging from 7-25 ¼, to 7-54 ¼. DNS wheat with 14 % protein, prices for July were dn 15 ¾, ranging from 7-89 ¾, to 7-99 ¾.

Live Cattle for Aug were dn $.82 ½, closing at 120.10. Aug Feeder cattle were up $.42 ½, to finish the day at 154.12 ½. June Class III milk was dn $.58, to settle at 17.55.