Pressure Rises In Cattle Market

Pressure Rises In Cattle Market

Matt Rice
Matt Rice
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.

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