Record "Cattle On Feed" Numbers

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Tuesday. Cattle took advantage of some lower feed prices, as cattle on feed numbers reach highs not seen since the late 90’s. Let’s go to Virginia McGathey with the CME Group to explain why.

Chicago Soft Red Winter Wheat prices for Sept. closed the day Dn 19, to finish at 9-17 ½. Sept. Corn was Dn 21 ½, to finish the day at 6-61 ¼. Kansas City Hard Red Winter Wheat prices for Sept. were dn 19 ½, to settle at 9-78 ¾.

Portland prices for Club Wheat with 10 ½ % Protein was Dn 35-1, ranging from 10-40 to 10-90. Soft white wheat with 10 ½ % Protein prices for Aug were dn 25 - 90, ranging from 10-40 to 11-50. Hard Red Winter Wheat with 11 ½ percent Protein prices for Aug. were Dn 19 ½, ranging from 10-63 ¾ to 10-93 ¾. DNS wheat with 14 % protein, prices for Aug. were Dn 26, ranging from 11-04 ½ to 11-39 ½.

Live Cattle for Aug were Up $.10, closing at 133.47 ½. Aug Feeder Cattle were Up $1.62 ½ to finish the day at 174.12 ½. Aug Class III milk was dn $.42 to settle at 23.08.