Beef Market Picks Up Slack

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Monday. The Beef Market picked up the slack as lighter than expected “Cattle On Feed” numbers came out from Friday’s report. Let’s go to Oliver Sloup with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for Dec. closed the day Up 23 ¾, to finish at 6-39. Dec. Corn was Up 7 ¼, to finish the day at 4-93. Kansas City Hard Red Winter Wheat prices for Dec. were Up 19 ¼, to settle at 7-60 ¾.

Portland prices for Club Wheat with 10 ½ % Protein was Unch - Up 15, ranging from 7-05 to 7-50. Soft white wheat with 10 ½ % Protein prices for Oct. were Unch, ranging from 6-90 to 7-30. Hard Red Winter Wheat with 11 ½ percent Protein prices for Oct. were Up 19 ¼, ranging from 7-80 ¾ to 7-85 ¾. DNS wheat with 14 % protein, prices for Oct. were Up 14 ¼, to settle at 8-67 ¾.

Live Cattle for Oct. was Up $.50, closing at 178.82 ½. Oct. Feeder Cattle were Up $1.37 ½, to finish the day at 250.70. Sept. Class III milk was Up $.65, to settle at 18.49.