Consumer Beef Demand Concerns Rise

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Monday. Demand concerns continue to rise in the Beef market as traders fear potential backlash from recent GDP numbers. Let’s go to Oliver Sloup with the CME Group for more.

Chicago Soft Red Winter Wheat prices for Sept. closed the day Dn 9 ¼, to finish at 8-07 ¾. Dec Corn was Up 1, to finish the day at 6-20. Kansas City Hard Red Winter Wheat prices for Sept were Up 15 ¼, to settle at 8-74 ½.

Portland prices for Club Wheat with 10 ½ % Protein were Unch to up 05, ranging from 8-90 to 9-65. Soft white wheat with 10 ½ % Protein prices for Sept. were Unch, ranging from 8-90 to 9-35. Hard Red Winter Wheat with 11 ½ percent Protein prices for Sept. were Up 15 ¼, ranging from 9-74 ½ to 9-94 ½. DNS wheat with 14 % protein, prices for Oct. were Dn 21 ¾, ranging from 9-98 ½ to 10-08 ½.

Live Cattle for Oct. were Up $.40, closing at 142.22 ½. Sept. Feeder Cattle were Up $1.35 to finish the day at 181.55. Sept. Class III milk was Up $.48 to settle at 20.31.