Feeders Find Support

This is Matt Rice with today’s Market Line Report for Tuesday. Feeder cattle took advantage of weaker feed prices to kick the week off on the right foot. Let’s go to Virginia McGathey with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for Dec. closed the day dn 9, to finish at 7-23 ½. Dec. Corn was dn 11, to close at 5-42 ¾. Kansas City Hard Red Winter Wheat prices for Sept. were dn 11 ½, to settle at 7-12 ½.

Portland prices for Club Wheat with 10 ½ % Protein were up15 to Unch, ranging from 10-85 to 13-50. Soft white wheat with 10 ½ % Protein for Oct. were up 02 to Unch, ranging from 10-64 to 11-00. Hard Red Winter Wheat with 11 ½ percent Protein for Oct. were dn 11 ½, ranging from 8-47 ½ to 8-92 ½. DNS wheat with 14 % protein, prices for Oct. were dn 8, ranging from 10-44 ¾ to 10-54 ¾.

Live Cattle for Oct. were dn $.80, closing at 128.32 ½. Sept. Feeder cattle were up $.52 ½, to finish the day at 168.95. Sept. Class III milk was dn $.10, to settle at 16.66.