Beef Pressure Continues

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Tuesday. Pressure in the Beef Market continues as Live Cattle prices drop over $2 at yesterdays close. 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 7 ¼, to finish at 7-08 ¾. July Corn was Unch, to finish the day at 5-97 ½. Kansas City Hard Red Winter Wheat prices for July were Dn 4 ½, to settle at 8-34 ½.

Portland prices for Club Wheat with 10 ½ % Protein was Unch – Dn 10, ranging from 7-40 to 8-00. Soft white wheat with 10 ½ % Protein prices for Aug. were Unch, ranging from 7-40 to 7-60. Hard Red Winter Wheat with 11 ½ percent Protein prices for Aug. were Dn 4 ½, ranging from 8-79 ½ to 8-84 ½. DNS wheat with 14 % protein, prices for Aug. were Dn 4 ½, ranging from 9-22 to 9-32.

Live Cattle for Aug. was Dn $2.02 ½, closing at 169.70. Aug. Feeder Cattle were Dn $2.77 ½, to finish the day at 232.15. June Class III milk was Unch, to settle at 14.94.