Feeders Find Momentum

This is Matt Rice with today’s Market Line Report for Monday. Feeder Cattle find support in the market as prices rallied to finish the week. 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 ¼, to finish at 640 ¾. Dec. Corn was dn 16 ¾, to close at 519 ¼. Kansas City Hard Red Winter Wheat prices for Sept. were dn 5 ½, to settle at 609.

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 5 ½, ranging from 7-09 to 7-39. DNS wheat with 14 % protein, prices for Aug. were up 2 ¾, ranging from 8-98 to 9-18.

Live Cattle for Aug were up $.17 ½, closing at 122.80. Aug Feeder cattle were up $2.40, to finish the day at 159.55. Aug. Class III milk was up $.03, to settle at 16.63.