Beef Market Trends Higher

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Thursday. The Beef Market continues to remain bullish despite weaker box beef prices . Let’s go to Virginia McGathey with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for Sept. closed the day Dn 29 ¼, to finish at 6-69 ¾. Dec. Corn was Dn 24 ¼, to finish the day at 5-36 ¾. Kansas City Hard Red Winter Wheat prices for Dec. were Dn 33 ¾, to settle at 8-05 ¾.

Portland prices for Club Wheat with 10 ½ % Protein was Dn 30 – 35, ranging from 7-10 to 7-70. Soft white wheat with 10 ½ % Protein prices for Sept. were Dn 35-10, ranging from 7-05 to 7-50. Hard Red Winter Wheat with 11 ½ percent Protein prices for Sept. were Dn 33 ¾, to settle at 8-50 ¾. DNS wheat with 14 % protein, prices for Sept. were Dn 27- 37, settling at 8-88 ¼.

Live Cattle for Aug. was Up $1.37 ½, closing at 173.87 ½. Aug. Feeder Cattle were Up $1.75, to finish the day at 240.25. July Class III milk was Unch, to settle at 14.35.