Beef Market Battling Inflation

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Friday. The beef market continues to struggle as higher energy and food prices create change with some consumers eating habits. Let’s go to Terry Roggensack with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for July closed the day Dn 30 ¼, to finish at 12-00 ½. July Corn was Up 1 ¾, to finish the day at 7-83 ¼. Kansas City Hard Red Winter Wheat prices for July were Dn 29 ¼, to settle at 12-95 ¼.

Portland prices for Club Wheat with 10 ½ % Protein were Unch, ranging from 11-00 to 12-50. Soft white wheat with 10 ½ % Protein prices for July were Unch, ranging from 11-00 to 12-00. Hard Red Winter Wheat with 11 ½ percent Protein prices for July were dn 28, ranging from 13-74 to 14-19. DNS wheat with 14 % protein, prices for July were dn 22 ¼, ranging from 13-89 to 14-30 ½.

Live Cattle for Aug were up $.32 ½, closing at 132.02 ½. Aug Feeder Cattle were dn $.60 to finish the day at 165.20. June Class III milk was up $.23 to settle at 24.80.