Beef Demand Concerns

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Thursday. With increased beef prices will demand continue to keep up? Let’s go to Virginia McGathey with the CME Group to find out.

Chicago Soft Red Winter Wheat prices for July closed the day Dn 11, to finish at 6-42. July Corn was Dn 6 ¾, to finish the day at 6-01. Kansas City Hard Red Winter Wheat prices for July were Dn 19 ¾, to settle at 7-83 ¼.

Portland prices for Club Wheat with 10 ½ % Protein was Unch – Dn 10, ranging from 7-15 to 7-75. Soft white wheat with 10 ½ % Protein prices for June were Unch – Dn 05, ranging from 7-15 to 7-60. Hard Red Winter Wheat with 11 ½ percent Protein prices for June were Dn 10 ¾ - 29 ¾, ranging from 8-98 ¼ to 9-13 ¼. DNS wheat with 14 % protein, prices for June were Dn 23 ½, settling at 8-98.

Live Cattle for June was Up $.55, closing at 164.57 ½. Aug. Feeder Cattle were Up $1.45, to finish the day at 230.95. June Class III milk was Dn $.07, to settle at 17.18.