Feeders Give Back Gains

This is Matt Rice with today’s Market Line Report for Thursday. An oversold beef market continues to show signs of weakness as Feeders give back all of yesterday’s gains. 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 3 ¾ to finish at 7-10 ¼. Dec. Corn was up 6 ½, to close at 5-39. Kansas City Hard Red Winter Wheat prices for Dec. were up 6 ¾, to settle at 7-11 ¾.

Portland prices for Club Wheat with 10 ½ % Protein were dn $1 to Unch, ranging from 9-50 to 12-60. Soft white wheat with 10 ½ % Protein for Nov. were dn .23 to .15, ranging from 9-52 to 10-37. Hard Red Winter Wheat with 11 ½ percent Protein for Nov. were up 6 ¾, ranging from 8-61 ¾ to 8-86 ¾. DNS wheat with 14 % protein, prices for Nov. were dn 3 ¾, ranging from 10-43 ½ to 10-45 ½.

Live Cattle for Dec. were dn $.45, closing at 127.05. Nov. Feeder cattle were dn $1.77 ½, to finish the day at 157.27 ½. Oct. Class III milk was up $.34 to settle at 17.88.