The Beef Rally Continues

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Monday. The Beef Market continues run the flag up the ladder, as Feeders moved the mark $4 higher throughout last week. 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 6, to finish at 6-33. Dec. Corn was Up 3 ¾, to finish the day at 4-97 ¼. Kansas City Hard Red Winter Wheat prices for Sept. were Dn 15, to settle at 7-52 ½.

Portland prices for Club Wheat with 10 ½ % Protein were Up 5, ranging from 7-00 to 7-50. Soft White Wheat with 10 ½ % Protein prices for Oct. were UNCH, ranging from 6-95 to 7-35. Hard Red Winter Wheat with 11 ½ percent Protein prices for Oct. were Dn 12 ¾, ranging from 7-89 ¼ to 7-94 ¼. DNS wheat with 14 % protein, prices for Oct. were Dn 9 ¾, to settle at 8-87 ¾.

Live Cattle for Oct. were Up $1.60, closing at 182.90. Oct. Feeder Cattle were Up $1.80, to finish the day at 253.45. Sept. Class III milk was Up $.29, to settle at 17.48.