Feeder Cattle Firm Up

This is Matt Rice with today’s Market Line Report for Friday. Live cattle consolidate while feeders take advantage of lower feed prices. Let’s go to Virginia McGathey with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for Sept. closed the day dn 11 ¾, to finish at 652. Dec. Corn was up ¼, to close at 636. Kansas City Hard Red Winter Wheat prices for Sept. were dn 6 ¼, to settle at 614 ½.

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 6 ¼, ranging from 7-14 ½ to 7-44 ½. DNS wheat with 14 % protein, prices for Aug. were up 3, ranging from 8-95 ¼ to 9-15 ¼.

Live Cattle for Aug were dn $.25, closing at 122.62 ½. Aug Feeder cattle were up $1.45, to finish the day at 157.15. Aug. Class III milk was dn $.19, to settle at 16.60.