Inflation Fears Driving Markets

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Monday. Inflation fears continue to control the Beef Market along higher feed costs. Let’s go to Virginia McGathey with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for Sept. closed the day Up 55, to finish at 8-91 ½. Dec. Corn was up 27 ¼, to finish the day at 6-23 ½. Kansas City Hard Red Winter Wheat prices for Sept. were Up 56 ½, to settle at 9-45 ¾.

Portland prices for Club Wheat with 10 ½ % Protein was Up 35 to 45, ranging from 9-30 to 10-25. Soft white wheat with 10 ½ % Protein prices for Sept. were Up 35 to 45, ranging 9-30 to 9-75. Hard Red Winter Wheat with 11 ½ percent Protein prices for Sept. were Up 66 ½ to 56 ½, ranging from 10-40 ¾ to 10-60 ¾. DNS wheat with 14 % protein, prices for Sept. were Up 57 ¼, ranging from 10-51 ¾ to 10-71 ¼.

Live Cattle for Aug were Dn $.60, closing at 133.95. Aug Feeder Cattle were Dn $.75 to finish the day at 171.72 ½. Aug Class III milk was Dn $.09 to settle at 21.75.