Inflation Concerns

This is Matt Rice with today’s Market Line Report for Friday. Traders concerned about effects of inflation, which could reduce consumer demand on higher priced beef cuts. Here’s Terry Roggensack with the CME Group to share more.

Chicago Soft Red Winter Wheat prices for Dec. closed the day dn 8, to finish at 7-41 ¼. Dec. Corn was dn 7, to close at 5-32 ¼. Kansas City Hard Red Winter Wheat prices for Dec. were dn 12, to settle at 7-47 ¾.

Portland prices for Club Wheat with 10 ½ % Protein were Unch, ranging from 10-50 to 13-25. Soft white wheat with 10 ½ % Protein prices for Nov. were up 75 to Unch ranging from 10-50 to 10-75. Hard Red Winter Wheat with 11 ½ percent Protein prices for Nov. were dn 12, ranging from 8-97 ¾ to 9-22 ¾. DNS wheat with 14 % protein, prices for Nov. were dn 4 ½, ranging from 11-10 ¼ to 11-25 ¼.

Live Cattle for Dec. were dn $.97 ½, closing at 129.55. Jan. Feeder cattle were dn $.47 ½, to finish the day at 160.00. Dec. Class III milk was up $.59 to settle at 19.64.