Lower Cattle Inventory

This is Matt Rice with today’s Market Line Report for Wednesday. With Cattle inventory down 1.3 % from 2020, producers will be looking at lower projected forecast numbers in 2021. Let’s go to Terry Roggensack with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for Sept. closed the day dn 2 ½, to finish at 674 ½. Dec. Corn was dn ½, to close at 546 ¼. Kansas City Hard Red Winter Wheat prices for Sept. were up 2 ½, to settle at 641 ½.

Portland prices for Club Wheat with 10 ½ % Protein were Unch, 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 up 2 ½, ranging from 7-46 ½ to 7-76 ½. DNS wheat with 14 % protein, prices for Sept. were dn ½, ranging from 9-83 ¼ to 9-93 ¼.

Live Cattle for Oct. were dn $.77 ½, closing at 128.42 ½. Sept. Feeder cattle were dn $.82 ½, to finish the day at 164.00. Sept. Class III milk was dn $.12, to settle at 16.66.