Weaker Demand, Weaker Prices

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Tuesday. Weaker demand in the beef market adds to the continued down slide as Live Cattle continue to fall. 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 4 ¾, to finish at 8-18 ½. Dec Corn was Dn ¾, to finish the day at 6-57 ¼. Kansas City Hard Red Winter Wheat prices for Dec. were Up 12 ¾, to settle at 9-56 ¼.

Portland prices for Club Wheat with 10 ½ % Protein were UNCH, ranging from 8-85 to 9-90. Soft White Wheat with 10 ½ % Protein prices for Jan. were Up 04 to UNCH, ranging from 8-95 to 9-25. Hard Red Winter Wheat with 11 ½ percent Protein prices for Jan. were Up 10 ¾, ranging from 10-69 ¾ to 10-89 ¾. DNS wheat with 14 % protein, prices for Jan. were Up 15 ½, ranging from 10-53 ¾ to 10-73 ¾.

Live Cattle for Dec. were Dn $.70, closing at 152.55. Jan. Feeder Cattle were Dn $.87 ½, to finish the day at 179.45. Dec. Class III milk was Up $.20, to settle at 21.78.