Volatility in the Cattle Market

This is Matt Rice with today’s Market Line Report for Thursday. Volatility continues to be factor in the cattle market, as traders witness more pullback despite lower feed prices. Let’s go to Scott Shellady with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for July closed the day dn 8, to finish at 648 ½. July Corn was up 4 ¼, to close at 624 ½. Kansas City Hard Red Winter Wheat prices for July were dn 5 ¾, to settle at 598 ¾.

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 had a mixed market up 4 ¼ and dn 5 ¾, ranging from 7-18 ¾ to 7-28 ¾. DNS wheat with 14 % protein, prices for July were dn 2, ranging from 7-85 ¾, to 7-95 ¾.

Live Cattle for Aug were dn 77 ½, closing at 119.32 ½. Aug Feeder cattle were dn $1.47 ½, to finish the day at 155.20. June Class III milk was up $.27, to settle at 17.98.