Feeders Off Their Mark

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Wednesday. Feeders take 1 step forward and 2 steps back as pressure builds, despite the bullish USDA report from last week. Let’s go to Virginia McGathey with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for Dec. closed the day Up 2, to finish at 6-27 ¼. Dec. Corn was Dn 3, to finish the day at 4-79 ½. Kansas City Hard Red Winter Wheat prices for Dec. were Dn ½, to settle at 7-47 ¾.

Portland prices for Club Wheat with 10 ½ % Protein were Unch, ranging from 7-05 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 ½, ranging from 7-67 ¾ to 7-72 ¾. DNS wheat with 14 % protein, prices for Oct. were Dn 7 ¼, to settle at 8-41 ¾.

Live Cattle for Oct. were Dn $1.25, closing at 178.62 ½. Oct. Feeder Cattle were Dn $1.42 ½, to finish the day at 251.22 ½. Sept. Class III milk was Dn $.38, to settle at 18.50.