Beef Demand Continues

This is Matt Rice with today’s Market Line Report for Friday. Cattle demand remains strong as China comes in big as one of the top countries importing US beef. Let’s go to Terry Roggensack with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for Sept. closed the day up 16 ¼, to finish at 705 ¼. Dec. Corn was up 7 ½, to close at 555 ½. Kansas City Hard Red Winter Wheat prices for Sept. were up 15, to settle at 674 ½.

Portland prices for Club Wheat with 10 ½ % Protein was 1-10 - Unch, ranging from 9-10 to 10-20. Soft white wheat with 10 ½ % Protein for Sept. was up 85 to 10, ranging from 8-85 to 8-95. Hard Red Winter Wheat with 11 ½ percent Protein for Sept. were up 15 to 45, ranging from 7-79 ½ to 8-39 ½. DNS wheat with 14 % protein, prices for Sept. were up 14 ¾ to 29 ¾, ranging from 10-23 ½ to 10-48 ½.

Live Cattle for Oct. were dn $.37 ½, closing at 128.15. Sept. Feeder cattle were dn $1.50, to finish the day at 161.95. Sept. Class III milk was dn $.24, to settle at 16.26.