Cattle Bounce Back

This is Matt Rice with today’s Market Line Report for Wednesday. Cattle took advantage of a weaker grain market after the long weekend. 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 26 ¾, to finish at 626. Dec. Corn was dn 40, to close at 539 ¾. Kansas City Hard Red Winter Wheat prices for Sept. were dn 35 ½, to settle at 583 ¾.

Portland prices for Club Wheat with 10 ½ % Protein were Unch, ranging from 8-50 to 8-90. Soft white wheat with Ordinary Protein for Aug. was Unch, ranging from 7-70 to 8-50. Hard Red Winter Wheat with 11 ½ percent Protein for Aug. were dn 35 ¾, ranging from 6-83 ½ to 7-13 ½. DNS wheat with 14 % protein, prices for Aug. were dn 50, ranging from 8-83 ¾ to 8-93 ¾.

Live Cattle for Aug were up $.40, closing at 122.40. Aug Feeder cattle were up $3.57 ½, to finish the day at 160.62 ½. Aug. Class III milk was dn $.12, to settle at 16.59.