Beef Consumer Demand Concerns

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Friday. Cash Cattle trade softened a bit yesterday, consumer demand remains to be the big question. Let’s go to Ted Seifried with the CME Group to find out more.

Chicago Soft Red Winter Wheat prices for July closed the day Dn 14, to finish at 6-27 ¼. July Corn was Dn 11 ¾, to finish the day at 5-82 ¼. Kansas City Hard Red Winter Wheat prices for July were Dn 13 ¾, to settle at 8-41 ½.

Portland prices for Club Wheat with 10 ½ % Protein was Up 05- Unch, ranging from 7-20 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 Dn 13 ¼ and up 21 ¼, ranging from 9-08 to 9-56 ½. DNS wheat with 14 % protein, prices for July were Dn 12 ¾ to 7 ¾, ranging from 9-16 ¾ to 9-36 ¾.

Live Cattle for June was Dn $.37 ½, closing at 160.80. Aug. Feeder Cattle were Up $.92 ½, to finish the day at 226.07 ½. June Class III milk was Dn $.28 to settle at 16.91.