Smaller Herds

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Tuesday. Tighter supplies in the beef market continue to be a focal point, as we’re seeing some of the smallest herd numbers since the 60’s. Let’s go to Virginia McGathey with the CME Group to find out more.

Chicago Soft Red Winter Wheat prices for July closed the day Dn 6 ¼, to finish at 6-54. July Corn was Unch, to finish the day at 5-96 ½. Kansas City Hard Red Winter Wheat prices for July were Up 11 ¼, to settle at 8-44 ¼.

Portland prices for Club Wheat with 10 ½ % Protein was Unch, ranging from 7-15 to 7-85. Soft white wheat with 10 ½ % Protein prices for July were Unch, ranging from 7-00 to 7-25. Hard Red Winter Wheat with 11 ½ percent Protein prices for July were Up 10 ¼ to 11 ¼, ranging from 9-14 ¼ to 9-24 ¼. DNS wheat with 14 % protein, prices for July were Up 7 ¾, ranging from 9-23 ¾ to 9-38 ¾.

Live Cattle for June was Up $.50, closing at 162.42 ½. Aug. Feeder Cattle were Up $1.67 ½, to finish the day at 223.10. July Class III milk was Up $.05, to settle at 17.04.