Cattle Remain Under Pressure

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Wednesday. Cattle remain under pressure following last weeks bearish “Feeder Report”. 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 2 ¾, to finish at 7-60 ¼. Dec. Corn was Dn 3, to finish the day at 5-65 ¼. Kansas City Hard Red Winter Wheat prices for Sept. were Dn 5 ¾, to settle at 9-12 ¾.

Portland prices for Club Wheat with 10 ½ % Protein was Up 20 – 10, ranging from 7-50 to 8-20. Soft white wheat with 10 ½ % Protein prices for Sept. were Up 40 – Unch, ranging from 7-50 to 8-00. Hard Red Winter Wheat with 11 ½ percent Protein prices for Sept. were Dn 5 ¾, ranging from 9-12 ¾ to 9-42 ¾. DNS wheat with 14 % protein, prices for Sept. were Dn 4, ranging from 9-82 to 9-92.

Live Cattle for Oct. was Dn $.70, closing at 179.60. Aug. Feeder Cattle were Dn $.02 ½, to finish the day at 243.22 ½. Aug. Class III milk was Dn $.09, to settle at 17.37.