Cattle Under Pressure

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Monday. The Beef Market finally hit some resistance, as both retail and Cash prices under pressure. 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 28 ¾, to finish at 7-01 ½. July Corn was Up 23, to finish the day at 5-97 ½. Kansas City Hard Red Winter Wheat prices for July were Up 30 ¼, to settle at 8-39 ¼.

Portland prices for Club Wheat with 10 ½ % Protein was Up 25-20, ranging from 7-40 to 8-10. Soft white wheat with 10 ½ % Protein prices for Aug. were Up 35-20, ranging from 7-40 to 7-60. Hard Red Winter Wheat with 11 ½ percent Protein prices for Aug. were Up 25 ¼, ranging from 8-84 to 8-89. DNS wheat with 14 % protein, prices for Aug. were Up 8 -23, ranging from 8-89 ¾ to 8-94 ¾.

Live Cattle for Aug. was Up $.65, closing at 171.72 ½. Aug. Feeder Cattle were Up $.80, to finish the day at 234.92 ½. June Class III milk was Up $.01, to settle at 14.94.