Grains Open Door For Cattle

This is Matt Rice with today’s Market Line Report for Thursday. Cattle make their way out of the trenches, finding momentum with a softer grain market. 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 11 ½, to finish at 10-97 ½. July Corn was up 10 ¼, to finish the day at 8-10. Kansas City Hard Red Winter Wheat prices for July were dn 6 ¾, to settle at 11-69 ½.

Portland prices for Club Wheat with 10 ½ % Protein were Unch- dn 20, ranging from 11-00 to 12-80. 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 dn 6 ¾, ranging from 12-69 ½ to 12-89 ½. DNS wheat with 14 % protein, prices for June were Unch, ranging from 12-52 ¼ to 12-92 ¼.

Live Cattle for June were up $2.05, closing at 138.62 ½. May Feeder Cattle were up $1.70 to finish the day at 162.47 ½. May Class III milk was dn $.14 to settle at 24.44.