Beef Market Remains Strong

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Monday. The Beef Market continues to impress traders, as analysts still not sure we’ve hit the top. Let’s go to Ted Seifried with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for Sept. closed the day Dn 10, to finish at 6-53 ¾. Dec. Corn was Dn 9, to finish the day at 4-87 ¼. Kansas City Hard Red Winter Wheat prices for Sept. were Dn 13 ¼, to settle at 7-66.

Portland prices for Club Wheat with 10 ½ % Protein was Unch – Dn 10, ranging from 7-00 to 7-40. Soft white wheat with 10 ½ % Protein prices for Oct. were Unch, ranging from 6-95 to 7-30. Hard Red Winter Wheat with 11 ½ percent Protein prices for Oct. were Dn 13 ¼, ranging from 7-86 to 7-91. DNS wheat with 14 % protein, prices for Oct. was Dn 3, finishing at 8-80 ¼.

Live Cattle for Oct. was Dn $1.20, closing at 181.32 ½. Sept. Feeder Cattle were Dn $.12 ½, to finish the day at 251.45. Sept. Class III milk was Up $.37 to settle at 17.98.