Beef Exports Could See Increase

This is Matt Rice with today’s Market Line Report for Thursday. With Argentina’s recent cutback on exports, US traders find new opportunity in the market. Let’s go to Scott Shellady with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for Sept. closed the day up 8 ¾, to finish at 663 ¾. Dec. Corn was dn 3 ¼, to close at 635 ¾. Kansas City Hard Red Winter Wheat prices for Sept. were up 14 ¾, to settle at 620 ¾.

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 up 14 ¾, ranging from 7-20 ¾ to 7-50 ¾. DNS wheat with 14 % protein, prices for Aug. were up 19 ½ ranging from 8-92 ¼ to 9-12 ¼.

Live Cattle for Aug were dn $.30, closing at 122.87 ½. Aug Feeder cattle were dn $2.65, to finish the day at 155.70. Aug. Class III milk was up $.12, to settle at 16.60.