Beef Rally Cools Off

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Tuesday. The rally in the Beef market cooled off as Feeders hit new highs, but closed the session in the red. Let’s go to Virginia McGathey with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for Sept. closed the day Up 24 ½, to finish at 6-57 ½. Dec. Corn was Dn 1 ½, to finish the day at 4-95 ¾. Kansas City Hard Red Winter Wheat prices for Sept. were Up 13, to settle at 7-82 ¼.

Portland prices for Club Wheat with 10 ½ % Protein were Unch, 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 Up 13, ranging from 8-02 ¼ to 8-07 ¼. DNS wheat with 14 % protein, prices for Oct. were Up 2 ¾, to settle at 8-90 ½.

Live Cattle for Oct. were Dn $1.47 ½, closing at 181.42 ½. Sept. Feeder Cattle were Dn $2.57 ½, to finish the day at 250.87 ½. Sept. Class III milk was Up $.46, to settle at 17.94.