Beef Demand Concerns

This is Matt Rice with today’s Market Line Report for Friday. Demand concerns in the Beef Market begin to stack up as more factors create a bearish tone. Let’s go to Terry Roggensack with the CME Group to find out more.

Chicago Soft Red Winter Wheat prices for May closed the day up 28 ¾, to finish at 10-98. May Corn was up 24 ½, to finish the day at 7-54 ½. Kansas City Hard Red Winter Wheat prices for May were up 19 ¾, to settle at 10-92 ¼.

Portland prices for Club Wheat with 10 ½ % Protein were Unch, ranging from 11-80 to 13-30. Soft white wheat with 10 ½ % Protein prices for May were dn 5 to UNCH, ranging from 11-25 to 11-84. Hard Red Winter Wheat with 11 ½ percent Protein prices for June were up 25 ¾, ranging from 11-83 ¼ to 11-93 ¼. DNS wheat with 14 % protein, prices for June were up 29 ¼, ranging from 11-17 to 11-47.

Live Cattle for June were up $.40, closing at 135.92 ½. April Feeder Cattle were dn $1.52 ½ to finish the day at 161.10. May Class III milk was up $.42 to settle at 23.75.