Cattle See Pullback

This is Matt Rice with today’s Market Line Report for Tuesday. Cattle see some pullback in the market as grains make a run 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 Sept. closed the day up 10 ¾, to finish at 651 ½. Dec. Corn was up 28, to close at 544 ¾. Kansas City Hard Red Winter Wheat prices for Sept. were up 17 ¾, to settle at 626 ¾.

Portland prices for Club Wheat with 10 ½ % Protein were Unc to Up 40, ranging from 8-50 to 8-90. Soft white wheat with 10 ½ % Protein for Aug. was Unch to Up 40 ranging from 7-95 to 8-90. Hard Red Winter Wheat with 11 ½ percent Protein for Aug. were up 17 ¾, ranging from 7-26 ¾ to 7-56 ¾. DNS wheat with 14 % protein, prices for Aug. were up 31 - 26, ranging from 9-29 to 9-44.

Live Cattle for Aug were dn $1.20, closing at 121.60. Aug Feeder cattle were dn $3.20, to finish the day at 156.35. Aug. Class IV milk was up $.06, to settle at 16.20.