Cattle Fall Back Down The Ladder

This is Matt Rice with today’s Market Line Report for Monday. Cattle find resistance as demand slows, Feeders making their way back down the ladder as imports slow. 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 ¼, to finish at 7-72 ¾. Dec. Corn was up 5 ½, to close at 5-76 ¼. Kansas City Hard Red Winter Wheat prices for Dec. were dn 4 ¼, to settle at 7-85 ¾.

Portland prices for Club Wheat with 10 ½ % Protein were Unch, ranging from 10-25 to 13-75. Soft white wheat with 10 ½ % Protein prices for Dec. were Unch ranging from 10-25 to 11-25. Hard Red Winter Wheat with 11 ½ percent Protein prices for Dec. were dn 4 ¼, ranging from 9-35 ¾ to 9-65 ¾. DNS wheat with 14 % protein, prices for Dec. were dn 5 ¾ to 14 ¾, ranging from 11-48 to 11-92 ¼.

Live Cattle for Dec. were dn $1.05, closing at 129.27 ½. Jan. Feeder cattle were dn $1.45, to finish the day at 156.12 ½. Dec. Class III milk was dn $.05 to settle at 18.46.