Cattle Rally Continues

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Friday. The rally continues in the Beef Market as bullish factors line up. Terry Roggensack with the CME Group to explain more.

Chicago Soft Red Winter Wheat prices for July closed the day Up 17, to finish at 10-58 ¼. July Corn was Dn 01, to finish the day at 7-30 ¼. Kansas City Hard Red Winter Wheat prices for July were UP 15, to settle at 11-50 ¼.

Portland prices for Club Wheat with 10 ½ % Protein were Unch to Dn 45, ranging from 11-00 to 11-85. Soft white wheat with 10 ½ % Protein prices for Aug were Unch, ranging from 10-75 to 11-35. Hard Red Winter Wheat with 11 ½ percent Protein prices for Aug. were Up 15, ranging from 12-35 ¼ to 12-70 ¼. DNS wheat with 14 % protein, prices for Aug. were Up 04 ¼, ranging from 12-71 ½ to 13-01 ½.

Live Cattle for Aug were Up $1.22 ½, closing at 134.12 ½. Aug Feeder Cattle were Up $3.22 ½, to finish the day at 172.95. June Class III milk was Dn $.13 to settle at 24.32.