Recession Fears Linger

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Tuesday. Recession fears continue to trickle into the beef market as traders predict a decrease in demand. Let’s go to Oliver Sloup with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for Dec. closed the day Dn 22 ½, to finish at 8-58. Dec Corn was Dn 10 ½, to finish the day at 6-66 ¼. Kansas City Hard Red Winter Wheat prices for Dec. were Dn 21, to settle at 9-29 ½.

Portland prices for Club Wheat with 10 ½ % Protein were Dn 25 - 15, ranging from 9-20 to 10-10. Soft white wheat with 10 ½ % Protein prices for Nov. were Dn 20-17, ranging from 9-22 to 9-63. Hard Red Winter Wheat with 11 ½ percent Protein prices for Nov. were Dn 21, ranging from 10-49 ½ to 10-79 ½. DNS wheat with 14 % protein, prices for Nov. were Dn 18, ranging from 10-11 ¼ to 10-31 ¼.

Live Cattle for Dec. were Dn $1.20, closing at 147.35. Nov. Feeder Cattle were Dn $1.20, to finish the day at 177.05. Oct. Class III milk was Dn $.08, to settle at 20.82.