Cattle Break Out of Sideways Channel

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Tuesday. Higher Cash prices underin futures, as the market breaks out of sideways channel. Let’s go to Virginia McGathey with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for Dec. closed the day Up 1 ¼, to finish at 8-61. Dec Corn was Dn 6 ½, to finish the day at 6-89 ¾. Kansas City Hard Red Winter Wheat prices for Dec. were Dn ¼, to settle at 9-52.

Portland prices for Club Wheat with 10 ½ % Protein were Unch, ranging from 9-10 to 9-65. Soft White Wheat with 10 ½ % Protein prices for Dec. were Dn 16- Unch, ranging from 9-03 to 9-45. Hard Red Winter Wheat with 11 ½ percent Protein prices for Dec. were Dn ¼, ranging from 10-72 ¾ to 11-05 ¾. DNS wheat with 14 % protein, prices for Dec. were Up 1, ranging from 10-35 ¼ to 10-80 ¼.

Live Cattle for Dec. were Up $1.42 ½, closing at 149.20. Nov. Feeder Cattle were Up $1.62 ½, to finish the day at 176.40. Nov. Class III milk was Up $.15, to settle at 20.56.