Pressure Rises In Cattle Market
This is Matt Rice with today’s Market Line Report for Tuesday. Pressure rises in the cattle market, including higher feed prices, inflation, & supply issues. Let’s go to Virginia McGathey with the CME Group to hear more.
Chicago Soft Red Winter Wheat prices for July closed the day up 24 ¼, to finish at 11-28 ¾. July Corn was up 23 ¼, to finish the day at 8-07. Kansas City Hard Red Winter Wheat prices for July were up 31 ¾, to settle at 11-89.
Portland prices for Club Wheat with 10 ½ % Protein were Unch, ranging from 11-00 to 13-00. Soft white wheat with 10 ½ % Protein prices for June were Unch, ranging from 11-00 to 11-54. Hard Red Winter Wheat with 11 ½ percent Protein prices for June were up 31 ¾, ranging from 12-89 to 13-09. DNS wheat with 14 % protein, prices for June were up 31 ¼, ranging from 12-58 to 12-98.
Live Cattle for June were dn $.62 ½, closing at 135.80. May Feeder Cattle were dn $2.62 ½ to finish the day at 159.15. May Class III milk was dn $.33 to settle at 25.13.