Beef Holds Demand

This is Matt Rice with today’s Market Line Report for Thursday. With increased demand with Box Beef prices Live cattle find strength in the market while Feeders hold steady. 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 14 ¼, to finish at 688 ¾. Dec. Corn was up 2 ¾, to close at 549. Kansas City Hard Red Winter Wheat prices for Sept. were up 18, to settle at 659 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 18, ranging from 7-64 ½ to 7-94 ½. DNS wheat with 14 % protein, prices for Sept. were up 25 ½, ranging from 10-08 ¾ to 10-18 ¾.

Live Cattle for Oct. were up $.10, closing at 128.52 ½. Sept. Feeder cattle were dn $.55, to finish the day at 163.45. Sept. Class III milk was dn $.16, to settle at 16.50.