Feeder Cattle Continue Rally

This is Matt Rice with today’s Market Line Report for Monday. Feeder Cattle found support with a stronger Cash Market and weaker feed prices. 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 1 ¼, to finish at 10-75 ¼. July Corn was dn 6 ¼, to finish the day at 7-89. Kansas City Hard Red Winter Wheat prices for May were up 6, to settle at 11-49 ½.

Portland prices for Club Wheat with 10 ½ % Protein were Unch – Dn 25, ranging from 11-00 to 12-75. 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 6, ranging from 12-49 ½ to 12-69 ½. DNS wheat with 14 % protein, prices for June were Up 8 ¼, ranging from 12-42 ¾ to 12-82 ¾.

Live Cattle for June were dn $1.47 ½, closing at 138.42 ½. Aug Feeder Cattle were up $.45 to finish the day at 176.90. May Class III milk was dn $.02 to settle at 24.55.