Beef Surge Continues

This is Matt Rice with today’s Market Line Report for Tuesday. Cattle picked up right where they left off, as both Feeders and Live Cattle surged to kick off the week. Let’s go to Virginia McGathey with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for Dec. closed the day up 5 ¼, to finish at 7-33 ½. Dec. Corn was dn 1 ½, to close at 5-35 ½. Kansas City Hard Red Winter Wheat prices for Dec. were up 1 ¾, to settle at 7-17 ½.

Portland prices for Club Wheat with 10 ½ % Protein was Unch to up 25, ranging from 10-00 to 12-50. Soft white wheat with 10 ½ % Protein for Oct. was Unch to up 6, ranging from 9-80 to 10-60. Hard Red Winter Wheat with 11 ½ percent Protein for Oct. were up 1 ¾, ranging from 8-42 ½ to 8-77 ½. DNS wheat with 14 % protein, prices for Oct. were up 3 ½, ranging from 10-35 ¾ to 10-50 ¾.

Live Cattle for Oct. were up $2.90, closing at 131.95. Sept. Feeder cattle were up $3.05, to finish the day at 170.67 ½. Sept. Class III milk was up $.40, to settle at 17.45.