Bullish Beef Supply

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Wednesday. The cattle market continues to produce bullish news as prices reflect. Let’s go to Terry Roggensack with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for Dec. closed the day Up 6, to finish at 8-17. Dec Corn was Up 10 ¼, to finish the day at 6-76. Kansas City Hard Red Winter Wheat prices for Dec. were Up 4 ¼, to settle at 8-82.

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 04 ¼, ranging from 9-92 to 10-02. DNS wheat with 14 % protein, prices for Nov. were Dn ¼, to settle at 9-69 ¾.

Live Cattle for Oct. were Up $.50, closing at 145.05. Oct. Feeder Cattle were Up $1.15, to finish the day at 186.10. Oct. Class III milk was Up $.15, to settle at 20.09.