Bullish Market Favors Beef

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Monday. Grains eased off before the big holiday, giving the Beef Market some room to grow. Let’s go to Oliver Sloup with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for Sept. closed the day Dn 9 ¼, to finish at 6-41 ¾. Dec. Corn was Dn 1 ¼, to finish the day at 4-93 ½. Kansas City Hard Red Winter Wheat prices for Sept. were Dn 3 ½, to settle at 7-96 ½.

Portland prices for Club Wheat with 10 ½ % Protein was Dn 15 – 30, ranging from 6-95 to 7-40. Soft white wheat with 10 ½ % Protein prices for Sept. were Unch – Dn 50, ranging from 6-90 to 7-00. Hard Red Winter Wheat with 11 ½ percent Protein prices for Sept. were Dn 3 ½, to settle at 8-41 ½. DNS wheat with 14 % protein, prices for Sept. were Dn 17 ¾, ranging from 8-69 ¼ to 8-79 ¼.

Live Cattle for Aug. was Dn $.35, closing at 176.67 ½. Aug. Feeder Cattle were Up $.32 ½, to finish the day at 247.90. June Class III milk was Dn $.03, to settle at 14.15.