Outside Markets Pressure Beef Market

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Monday. Outside market pressure weighs in on the beef market along with weaker cash prices. Let’s go to Oliver Sloup with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for Dec. closed the day Up 16 ¾, to finish at 8-11. Dec Corn was Up 7 ¾, to finish the day at 6-65 ¾. Kansas City Hard Red Winter Wheat prices for Dec. were Up 9 ¾, to settle at 8-77 ¾.

Portland prices for Club Wheat with 10 ½ % Protein were Unch, ranging from 8-85 to 9-60. Soft white wheat with 10 ½ % Protein prices for Nov. were Unch, ranging from 8-75 to 9-15. Hard Red Winter Wheat with 11 ½ percent Protein prices for Nov. were Up 9 ¾, ranging from 9-87 ¾ to 9-97 ¾. DNS wheat with 14 % protein, prices for Nov. were Up 3 ½, to settle at 9-70.

Live Cattle for Oct. were Up $1.75, closing at 144.55. Oct. Feeder Cattle were Up $.60, to finish the day at 184.95. Oct. Class III milk was Up $.42, to settle at 19.94.