MidWest Heats Up Cattle Market

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Tuesday. Extreme heat in the MidWest could be a positive factor for the cattle market. Here’s Terry Roggensack with the CME Group to explain why.

Chicago Soft Red Winter Wheat prices for July closed the day Dn 20 ¾, to finish at 10-50 ¼. July Corn was dn 1, to finish the day at 7-68 ¼. Kansas City Hard Red Winter Wheat prices for July were dn 19 ½, to settle at 11-42 ¼.

Portland prices for Club Wheat with 10 ½ % Protein were Unch- Dn 5, ranging from 11-00 to 11-90. Soft white wheat with 10 ½ % Protein prices for Aug were Up 45 - Unch, ranging from 11-20 to 11-50. Hard Red Winter Wheat with 11 ½ percent Protein prices for Aug. were Dn 19 ½, ranging from 12-34 ¼ to 12-64 ¼. DNS wheat with 14 % protein, prices for Aug. were Dn 13 ¼, ranging from 12-78 ½ to 13-03 ½.

Live Cattle for Aug were Up $.20, closing at 134.07 ½. Aug Feeder Cattle were Dn $.02 ½ to finish the day at 171.30. Aug Class III milk was Dn $.12 to settle at 24.39.