Cattle Prices Reach Uncharted Territories

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Thursday. The cattle supply continues to tighten driving prices to uncharted territories. Let’s go to Terry Roggensack with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for July closed the day Up 3, to finish at 6-87. May Corn was Unch, to finish the day at 6-27 ¾. Kansas City Hard Red Winter Wheat prices for May were Dn 3 ¾, to settle at 8-46 ¼.

Portland prices for Club Wheat with 10 ½ % Protein was Unch- Up 05, ranging from 7-65 to 8-05. Soft white wheat with 10 ½ % Protein prices for June were Unch, ranging from 7-50 to 7-65. Hard Red Winter Wheat with 11 ½ percent Protein prices for June were Dn 3 ¾, ranging from 9-76 ¼ to 9-96 ¼. DNS wheat with 14 % protein, prices for June were Dn 3, ranging from 9-45 to 9-60.

Live Cattle for June was Up $.90, closing at 164.85. May Feeder Cattle were Up $.75, to finish the day at 208.57 ½. May Class III milk was Up $.33, to settle at 18.24.