Beef Market Finishes Week Strong

This is Matt Rice with today’s Market Line Report for Monday. The beef market rebounded to finish the week, with help from lower feed costs to drive demand. 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 8 ¼, to finish at 684. Dec. Corn was dn 18 ¼, to close at 543. Kansas City Hard Red Winter Wheat prices for Sept. were dn 7 ¾, to settle at 646.

Portland prices for Club Wheat with 10 ½ % Protein were Unch to up 1-70, ranging from 8-00 to 10-20. Soft white wheat with Ordinary Protein for Sept. was Unch, ranging from 7-70 to 8-00. Hard Red Winter Wheat with 11 ½ percent Protein for Sept. were dn 12 ¾ to 7 ¾, ranging from 7-51 to 7-81. DNS wheat with 14 % protein, prices for Sept. were dn 15 ½ to 20 ½, ranging from 9-88 ½ to 9-98 ½.

Live Cattle for Oct. were up $.47 ½, closing at 127.15. Aug Feeder cattle were up $1.87 ½, to finish the day at 160.07 ½. Aug. Class III milk was up $.08, to settle at 16.47.