Bear's Can't Keep Bulls Down

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Tuesday. Despite a Bearish “On Feed” report from the beef market, cattle held their own yesterday. Here’s Virginia MgCathey with the CME Group to explain more.

Chicago Soft Red Winter Wheat prices for Dec. closed the day Up 17 ¼, to finish at 7-88 ¼. Dec Corn was Up 5 ¾, to finish the day at 6-28 ¼. Kansas City Hard Red Winter Wheat prices for Dec. were Up 19, to settle at 8-66.

Portland prices for Club Wheat with 10 ½ % Protein were Unch, ranging from 8-50 to 9-10. Soft white wheat with 10 ½ % Protein prices for Oct. were Up 05-Unch, ranging from 8-37 to 8-90. Hard Red Winter Wheat with 11 ½ percent Protein prices for Oct. were Up 19, ranging from 9-76 to 9-81. DNS wheat with 14 % protein, prices for Oct. were Up 13 ½, ranging from 9-70 ½ to 9-90 ½.

Live Cattle for Oct. were Dn $.75, closing at 144.50. Oct. Feeder Cattle were Dn $.30 to finish the day at 186.47 ½ . Sept. Class III milk was Up $.23 to settle at 19.96.