Feeders Hold Firm

This is Matt Rice with today’s Market Line Report for Monday. The Feeder Cattle market held firm last week despite fundamental issues including inflation and rising interest rates. 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 2, to finish at 11-08 ½. July Corn was dn 12 ¾, to finish the day at 7-84 ¾. Kansas City Hard Red Winter Wheat prices for July were dn 6 ½, to settle at 11-70 ½.

Portland prices for Club Wheat with 10 ½ % Protein were Unch, ranging from 11-00 to 11-75. Soft white wheat with 10 ½ % Protein prices for July were Unch, ranging from 10-25 to 11-20. Hard Red Winter Wheat with 11 ½ percent Protein prices for June were dn 6 ½, ranging from 12-70 ½ to 12-90 ½. DNS wheat with 14 % protein, prices for June were dn 1, ranging from 12-88 ¾ to 13-28 ¾.

Live Cattle for June were dn $1.02 ½, closing at 132.75. Aug Feeder Cattle were up $.32 ½ to finish the day at 174.70. June Class III milk was dn $.20 to settle at 24.46.