Grains Over Beef

This is Matt Rice with today’s Market Line Report for Monday. Rising grain prices continue to play into the Beef Complex, putting a dampener on the market. Let’s go to Terry Roggensack with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for Dec. closed the day up 4 ½, to finish at 8-17. Dec. Corn was up 7 ¾, to close at 5-77 ¼. Kansas City Hard Red Winter Wheat prices for Dec. were up 5, to settle at 8-33.

Portland prices for Club Wheat with 10 ½ % Protein were Unch, ranging from 10-70 to 14-00. Soft white wheat with 10 ½ % Protein prices for Jan. were Unch, ranging from 10-66 to 11-50. Hard Red Winter Wheat with 11 ½ percent Protein prices for Jan. were up 4 ¾, ranging from 9-95 ½ to 10-25 ½. DNS wheat with 14 % protein, prices for Jan. were up ½, ranging from 11-46 ½ to 11-66 ½.

Live Cattle for Dec. were up $.25, closing at 132.12 ½. Jan. Feeder cattle were dn $1.35, to finish the day at 157.72 ½. Dec. Class III milk was dn $.46 to settle at 17.62.