Outside Markets Boost Beef Market

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Wednesday. Outside markets pump up the Beef Market, as consumers begin to gain confidence adding buying power. Let’s go to Oliver Sloup with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for July closed the day Up 2 ½, to finish at 6-36 ¼. July Corn was Dn 4 ¾, to finish the day at 6-12 ½. Kansas City Hard Red Winter Wheat prices for July were Dn 4 ¾, to settle at 7-91 ¾.

Portland prices for Club Wheat with 10 ½ % Protein was Unch - Up 5, ranging from 7-15 to 7-85. Soft white wheat with 10 ½ % Protein prices for July were Unch, ranging from 7-05 to 7-35. Hard Red Winter Wheat with 11 ½ percent Protein prices for Aug. were Dn 3 ½, ranging from 8-40 ¼ to 8-70 ¼. DNS wheat with 14 % protein, prices for Aug. were Dn 5 ¼, ranging from 8-84 ½ to 8-89 ½.

Live Cattle for Aug. was Up $.72 ½, closing at 173.92 ½. Aug. Feeder Cattle were Up $1.40, to finish the day at 240.45. June Class III milk was Dn $.02 to settle at 15.09.