Corn Takes Pressure Off Cattle Market

This is Matt Rice with today’s Market Line Report for Thursday. The Live Cattle market found some room to breathe as corn prices let off. Let’s go to Virginia McGathey with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for July closed the day dn 4 ¾, to finish at 10-40 ¾. May Corn was dn 3 ¼, to finish the day at 7-56 ½. Kansas City Hard Red Winter Wheat prices for May were up 2 ¼, to settle at 10-85.

Portland prices for Club Wheat with 10 ½ % Protein were Unch, ranging from 10-75 to 12-50. Soft white wheat with 10 ½ % Protein prices for June were Unch, ranging from 10-75 to 11-04. Hard Red Winter Wheat with 11 ½ percent Protein prices for June were up 1 ¾, ranging from 11-86 to 12-06. DNS wheat with 14 % protein, prices for June were dn 3 ¼, ranging from 11-88 ½ to 12-28 ½.

Live Cattle for June were up $.90, closing at 134.22 ½. May Feeder Cattle were up $.95 to finish the day at 159.95. May Class III milk was up $.45 to settle at 24.85.