Key Factors In Beef Market

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Thursday. Weakness in Corn and Wheat, along with mixed weather playing key roles in the Beef Market. Larry Shover with the CME Group to explain more.

Chicago Soft Red Winter Wheat prices for July closed the day dn 6 ½, to finish at 11-48 ¼. July Corn was up ½, to finish the day at 7-72 ¼. Kansas City Hard Red Winter Wheat prices for July were Dn 4 ½, to settle at 12-33 ¼.

Portland prices for Club Wheat with 10 ½ % Protein were Unch- Up 20, ranging from 11-00 to 12-30. Soft white wheat with 10 ½ % Protein prices for July were Unch- Up 20, ranging from 11-00 to 11-80. Hard Red Winter Wheat with 11 ½ percent Protein prices for July were dn 4 ¼, ranging from 13-13 ¼ to 13-58 ¼. DNS wheat with 14 % protein, prices for July were up 3 ½ - 3 ¼, ranging from 13-40 ½ to 13-80 ½.

Live Cattle for Aug were Dn $.22 ½, closing at 132.30. Aug Feeder Cattle were Dn $.20 to finish the day at 167.95. June Class III milk was up $.05 to settle at 24.20.