Feeders Are The Leaders

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Monday. Feeder Cattle led the rally in the Beef market last week, as the approach the $230 mark. Let’s go to Oliver Sloup with the CME Group to find out more.

Chicago Soft Red Winter Wheat prices for July closed the day Up 7 ¾, to finish at 6-35. July Corn was Up 4, to finish the day at 5-86 ¼. Kansas City Hard Red Winter Wheat prices for July were Up 35 ½, to settle at 8-77.

Portland prices for Club Wheat with 10 ½ % Protein was 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 Up 33 – 35 ½, ranging from 9-41 to 9-92. DNS wheat with 14 % protein, prices for July were Up 9 ¼, ranging from 9-26 to 9-46.

Live Cattle for June was Up $1.65, closing at 162.45. Aug. Feeder Cattle were Up $2.90, to finish the day at 228.97 ½. June Class III milk was Dn $.34 to settle at 16.57.