Consumer Beef Demand Concerns Rise

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Wednesday. Traders fear increased beef prices could have a negative effect on consumer demand. Let’s go to Oliver Sloup with the CME Group for more.

Chicago Soft Red Winter Wheat prices for Sept. closed the day Dn 25 ½, to finish at 8-74 ¾. Dec Corn was Dn 15 ½, to finish the day at 5-94 ¼. Kansas City Hard Red Winter Wheat prices for Sept were Dn 24 ¼, to settle at 8-42 ¼.

Portland prices for Club Wheat with 10 ½ % Protein were UNCH, ranging from 9-00 to 9-75. Soft white wheat with 10 ½ % Protein prices for Oct. were Dn 08 - UNCH, ranging from 8-92 to 9-27. Hard Red Winter Wheat with 11 ½ percent Protein prices for Oct. were DN 23 ¾, ranging from 9-60 ¼ to 9-65 ¼. DNS wheat with 14 % protein, prices for Oct. were Dn 23 ½, ranging from 9-66 ¾ to 9-76 ¾.

Live Cattle for Oct. were Dn $.50, closing at 142.12 ½. Sept. Feeder Cattle were Dn $1.65 to finish the day at 181.45. Sept. Class III milk was Dn $.10 to settle at 20.40.