Feeders Touch New Lows

This is Matt Rice with today’s Market Line Report for Tuesday. Feeder Cattle find more resistance after a bearish USDA report from last week as futures touch new lows. 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 1 ½ to finish at 7-22 ¼. Dec. Corn was up 12 ¾, to close at 5-39 ½. Kansas City Hard Red Winter Wheat prices for Dec. were up 1, to settle at 7-20 ¾.

Portland prices for Club Wheat with 10 ½ % Protein were Unch to dn 1.40, ranging from 10-50 to 12-60. Soft white wheat with 10 ½ % Protein for Oct. were dn .50 – 1.00, ranging from 10-00 to 10-50. Hard Red Winter Wheat with 11 ½ percent Protein for Oct. were up 1, ranging from 8-70 ¾ to 8-95 ¾. DNS wheat with 14 % protein, prices for Oct. were up 5 ½, ranging from 10-56 ½ to 10-66 ½.

Live Cattle for Dec. were dn $.35, closing at 127.80. Nov. Feeder cattle were dn $3.00, to finish the day at 155.75 ½. Oct. Class III milk was up $.21 to settle at 17.51.