Feed Lots Hold Out For Higher Prices

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Tuesday. The Beef Market cooled off yesterday, as Feed lots hold off for better contracts. Let’s go to Virginia McGathey with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for Dec. closed the day Dn 12 ¼, to finish at 6-41 ½. Dec. Corn was Up ½, to finish the day at 4-87 ¾. Kansas City Hard Red Winter Wheat prices for Dec. were Dn 6 ¾, to settle at 7-59 ¼.

Portland prices for Club Wheat with 10 ½ % Protein were Dn 10 to Unch, ranging from 6-90 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 6 ¾, ranging from 7-79 ¼ to 7-84 ¼. DNS wheat with 14 % protein, prices for Oct. were Dn 10 ¼, to settle at 8-70.

Live Cattle for Oct. were Dn $.65, closing at 180.67 ½. Sept. Feeder Cattle were Dn $1.32 ½, to finish the day at 250.12 ½. Sept. Class III milk was Dn $.15, to settle at 17.83.