More Pressure In Beef Market

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Thursday. More pressure in the Beef Market yesterday, does this mean we’ve seen the top? Let’s go go to Virginia McGathey with the CME Group to find out.

Chicago Soft Red Winter Wheat prices for July closed the day Up 30 ½, to finish at 6-39 ¾. July Corn was Up 8 ½, to finish the day at 5-88 ½. Kansas City Hard Red Winter Wheat prices for July were Up 44 ¾, to settle at 7-85.

Portland prices for Club Wheat with 10 ½ % Protein was Unch – Up 05, ranging from 7-15 to 7-70. Soft white wheat with 10 ½ % Protein prices for June were Unch, ranging from 7-00 to 7-25. Hard Red Winter Wheat with 11 ½ percent Protein prices for June were Up 44 ¾, ranging from 8-65 to 9-10. DNS wheat with 14 % protein, prices for June were Up 30, ranging from 8-83 ½ to 8-88 ½.

Live Cattle for June was Dn $1.25, closing at 161.65. Aug. Feeder Cattle were Dn $2.65, to finish the day at 223.52 ½. June Class III milk was Up $.11, to settle at 17.08.