Higher Feed Drives Cattle Lower

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Friday. The Cash Market cooled off, as added pressure builds from higher Corn prices. Let’s go to Ted Seifried with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for Sept. closed the day Dn 16 ¼, to finish at 6-58. Dec. Corn was Up 13, to finish the day at 5-06 ½. Kansas City Hard Red Winter Wheat prices for Dec. were Dn 2 ½, to settle at 8-43 ¾.

Portland prices for Club Wheat with 10 ½ % Protein was Unch – Dn 10, ranging from 6-95 to 7-25. Soft white wheat with 10 ½ % Protein prices for Sept. were Dn 10 -Unch, ranging from 6-75 to 7-00. Hard Red Winter Wheat with 11 ½ percent Protein prices for Sept. were Dn 7 ½ - 2 ½, ranging from 8-83 ¼ to 8-93 ¾. DNS wheat with 14 % protein, prices for Sept. were Up ½, ranging from 9-08 to 9-28.

Live Cattle for Aug. was Dn $.37 ½, closing at 174.57 ½. Aug. Feeder Cattle were Dn $2.42 ½, to finish the day at 242.27 ½. Aug. Class III milk was Dn $.09, to settle at 14.37.