Economy Concerns Trickle Into Beef Market

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Thursday. The Beef market continues to keep an eye on growing concerns of a slowing economy and recession fears. 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 31 ¾, to finish at 9-03 ¼. Dec Corn was Up 3 ¾, to finish the day at 6-76 ½. Kansas City Hard Red Winter Wheat prices for Dec. were Up 32 ¾, to settle at 9-76.

Portland prices for Club Wheat with 10 ½ % Protein were Unch, ranging from 9-20 to 10-10. Soft white wheat with 10 ½ % Protein prices for Nov. were Unch, ranging from 9-22 to 9-63. Hard Red Winter Wheat with 11 ½ percent Protein prices for Nov. were Up 32 ¾, ranging from 10-96 to 11-26. DNS wheat with 14 % protein, prices for Nov. were Up 29 ¼, ranging from 10-52 ½ to 10-72 ½.

Live Cattle for Dec. were Dn $.62 ½, closing at 146.27 ½. Nov. Feeder Cattle were Dn $1.00, to finish the day at 175.27 ½. Oct. Class III milk was Up $.56, to settle at 21.85.