Cattle Hit Rough Patch

This is Matt Rice with today’s Market Line Report for Thursday. Cattle hit a small rough patch yesterday, but could we see more gains in the near future? Let’s go to Ted Seifried with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for Dec. closed the day dn 6 ¾, to finish at 7-25 ½. Dec. Corn was up 6 ½, to close at 5-51 ¾. Kansas City Hard Red Winter Wheat prices for Dec. were dn 2 ¼, to settle at 7-15.

Portland prices for Club Wheat with 10 ½ % Protein was Unch to up 10, ranging from 9-75 to 12-60. Soft white wheat with 10 ½ % Protein for Oct. was up 24 to 20, ranging from 10-04 to 10-80. Hard Red Winter Wheat with 11 ½ percent Protein for Oct. had a mixed market, dn 2 ¼ and up 17 ¾, ranging from 8-40 to 8-95. DNS wheat with 14 % protein, prices for Oct. were dn 2 ¾, ranging from 10-38 to 10-53.

Live Cattle for Oct. were dn $1.40, closing at 130.30. Oct. Feeder cattle were dn $.95, to finish the day at 169.27 ½. Sept. Class III milk was dn $.02, to settle at 17.36.