Tighter Supply Drives Beef Market

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Thursday. Demand uncertainty continues as tighter supplies and hot weather play a role in the Beef market. 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 12 ¼, to finish at 6-39 ¾. Dec. Corn was Up 11, to finish the day at 4-90 ½. Kansas City Hard Red Winter Wheat prices for Sept. were Up 16, to settle at 7-63 ¾.

Portland prices for Club Wheat with 10 ½ % Protein was Dn 30 – Up 10, ranging from 6-75 to 7-50. 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 Up 16, ranging from 7-83 ¾ to 7-88 ¾. DNS wheat with 14 % protein, prices for Oct. was Up 11 ½, finishing at 8-53 ¼.

Live Cattle for Oct. was Up $.05, closing at 178.67 ½. Sept. Feeder Cattle were Dn $.35, to finish the day at 250.87 ½. Sept. Class III milk was Dn $.11, to settle at 18.39.