Lower Than Normal Beef Production

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Wednesday. Lower than normal beef production drives the cattle market higher. Let’s go to Terry Roggensack with the CME Group to find out more.

Chicago Soft Red Winter Wheat prices for July closed the day Dn 10 ½, to finish at 6-43 ½. July Corn was Dn 11 ¾, to finish the day at 5-84 ¾. Kansas City Hard Red Winter Wheat prices for July were Up 12, to settle at 8-56 ¼.

Portland prices for Club Wheat with 10 ½ % Protein was Unch – Dn 15, ranging from 7-15 to 7-70. 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 7 ½ to 12, ranging from 9-21 ¾ to 9-36 ¼. DNS wheat with 14 % protein, prices for July were Up 4, ranging from 9-27 ¾ to 9-42 ¾.

Live Cattle for June was Up $1.50, closing at 163.92 ½. Aug. Feeder Cattle were Up $3.02 ½, to finish the day at 226.12 ½. June Class III milk was Dn $.16 to settle at 16.88.