Demand Concerns In Beef Market

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Thursday. The beef market stumbled slightly yesterday as demands questions begin to rise. Let’s go to Virginia McGathey with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for July closed the day Dn 11, to finish at 6-16 ¾. July Corn was Dn 3 ¾, to finish the day at 6-04 ¼. Kansas City Hard Red Winter Wheat prices for July were Dn 32 ¼, to settle at 7-88.

Portland prices for Club Wheat with 10 ½ % Protein was Up 25 & Dn 10, ranging from 7-15 to 7-65. Soft white wheat with 10 ½ % Protein prices for Aug. were Up 10 - 05, ranging from 7-05 to 7-35. Hard Red Winter Wheat with 11 ½ percent Protein prices for Aug. were Dn 48 ½ - 28 ½, ranging from 8-36 to 8-66. DNS wheat with 14 % protein, prices for Aug. were Dn 23, ranging from 8-71 ½ to 8-76 ½.

Live Cattle for Aug. was Dn $2.30, closing at 173.20. Aug. Feeder Cattle were Dn $4.15, to finish the day at 239.10. July Class III milk was Up $.24, to settle at 16.53.