Uncertainty In Beef Market

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Monday. Feeder cattle hit a new low finishing last week as traders remain uncertain about the upcoming “Cattle On Feed Report”. 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 31 ¾, to finish at 11-68 ¾. July Corn was Dn 4 ½, to finish the day at 7-78 ¾. Kansas City Hard Red Winter Wheat prices for July were Dn 42 ½, to settle at 12-52 ¾.

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 42 ¼, ranging from 13-31 ¾ to 13-76 ¾. DNS wheat with 14 % protein, prices for July were dn 50 ¼ - 51 ½, ranging from 13-38 ¾ to 13-79.

Live Cattle for Aug were dn $.47 ½, closing at 131.55. Aug Feeder Cattle were dn $1.27 ½ to finish the day at 163.92 ½. June Class III milk was dn $.32 to settle at 24.48.