Feed Prices Add Pressure To Beef Market

This is Matt Rice with today’s Market Line Report for Tuesday. As feed prices continue to run, Cattle struggle to find demand with prices falling back to June Lows of 2021. Let’s go to Virginia McGathey with the CME roup to hear more.

Chicago Soft Red Winter Wheat prices for July closed the day up 30 ¾, to finish at 10-89. July Corn was dn 2, to finish the day at 7-58 ¾. Kansas City Hard Red Winter Wheat prices for July were up 35 ½, to settle at 11-45 ½.

Portland prices for Club Wheat with 10 ½ % Protein were Unch – Up 25, ranging from 10-75 to 12-75. Soft white wheat with 10 ½ % Protein prices for June were Unch- Up 21, ranging from 10-75 to 11-25. Hard Red Winter Wheat with 11 ½ percent Protein prices for June were Up 35 ½, ranging from 12-45 ½ to 12-65 ½. DNS wheat with 14 % protein, prices for June were up 13 ¾, ranging from 12-20 ½ to 12-60 ½.

Live Cattle for June were Up $.97 ½, closing at 134.80. May Feeder Cattle were up $.52 ½ to finish the day at 159.90. May Class III milk was Up $.08 to settle at 24.93.