Beef Cutout Prices Soar

This is Matt Rice with today’s Market Line Report for Monday. Once again beef cutout prices soar despite, last weeks cyber attack on JBS. Let’s go to Terry Roggensack with the CME Group to find out more.

Chicago Soft Red Winter Wheat prices for July closed the day up 11 ½, to finish at 687 ¾. July Corn was up 20 ¾, to close at 682 ¾. Kansas City Hard Red Winter Wheat prices for July were up 12 ¼, to settle at 636 ½.

Portland prices for Club Wheat with Ordinary Protein were Unch, to settle at 7-75. Soft white wheat of Ordinary Protein for July was Unch, ranging from 7-75 to 7-85. Hard Red Winter Wheat with 11 ½ percent Protein, for July was up 12 ¼, ranging from 7-56 ½ to 7-66 ½. DNS wheat with 14 % protein, prices for July were up 35 ¼, ranging from 9-12 ¾, to 9-27 ¼.

Live Cattle for Aug were dn $.45, closing at 118.07 ½. Aug Feeder cattle were dn $3.02 ½, to finish the day at 149.92 ½. July Class III milk was up $.01, to settle at 17.86.