Cattle Futures Remain Under Pressure

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Friday. Live Cattle finished the day lower, as higher feed prices continue to play a role in the markets. 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 7 ¼, to finish at 7-12 ¾. Dec. Corn was Dn 6, to finish the day at 5-42 ¼. Kansas City Hard Red Winter Wheat prices for Sept. were Up 1 ¼, to settle at 8-66 ½.

Portland prices for Club Wheat with 10 ½ % Protein were Dn 10- Unch, ranging from 7-40 to 8-00. Soft White Wheat with 10 ½ % Protein prices for Sept. were Dn 10 - UNCH, ranging from 7-40 to 8-00. Hard Red Winter Wheat with 11 ½ percent Protein prices for Sept. were Up 1 ¼, ranging from 8-66 ½ to 8-96 ½. DNS wheat with 14 % protein, prices for Oct. were Dn 7 ½, ranging from 9-65 to 9-70.

Live Cattle for Oct. were Dn $.45, closing at 179.50. Oct. Feeder Cattle were Up $.82 ½, to finish the day at 248.27 ½. Aug. Class III milk was Dn $.04, to settle at 16.98.