Beef Demand Increases

This is Matt Rice with today’s Market Line Report for Tuesday. Demand in the beef market picks up as cattle prices surge to kick off the week. 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 6 ¼, to finish at 674 ½. July Corn was dn 25 ¼, to close at 659 ¼. Kansas City Hard Red Winter Wheat prices for July were dn 10, to settle at 628.

Portland prices for Club Wheat with 10 ½ % Protein were Unch, to settle at 8-50. Soft white wheat of Ordinary Protein for Aug. was Unch, ranging from 7-95 to 8-50. Hard Red Winter Wheat with 11 ½ percent Protein, for Aug. were dn 9 ½, ranging from 7-36 ¼ to 7-61 ¼. DNS wheat with 14 % protein, prices for Aug. were dn 17 ¼ ranging from 8-44 to 8-64.

Live Cattle for Aug were up $1.25, closing at 121.27 ½. Aug Feeder cattle were up $3.42 ½, to finish the day at 154.60. July Class III milk was dn $.06, to settle at 17.47.