Consumer Demand Concerns Rise In Beef Market

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Friday. The Beef Market struggled to find a rhythm as analysts remain concerned higher prices could slow consumer demand. Let’s go to Oliver Sloup with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for Sept. closed the day Up 7, to finish at 6-39 ¾. Dec. Corn was Up 16 ¾, to finish the day at 5-00 ½. Kansas City Hard Red Winter Wheat prices for Dec. were Up 3, to settle at 8-06.

Portland prices for Club Wheat with 10 ½ % Protein was Unch – Dn 10, ranging from 6-85 to 7-40. Soft white wheat with 10 ½ % Protein prices for Sept. were Unch, ranging from 6-85 to 7-10. Hard Red Winter Wheat with 11 ½ percent Protein prices for Sept. were Up 3, ranging from 8-36 to 8-56. DNS wheat with 14 % protein, prices for Sept. were Up 8 ¼, ranging from 9-11 ¾ to 9-21 ¾.

Live Cattle for Oct. was Dn $.15, closing at 180.10. Aug. Feeder Cattle were Dn $1.57 ½, to finish the day at 245.00. Aug. Class III milk was Up $.52, to settle at 15.34.