Beef Demand Remains Strong

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Friday. The cattle market continues to gain momentum, as tighter supplies secure demand. Let’s go to Oliver Sloup with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for Dec. closed the day Dn 10, to finish at 6-21 ¾. Dec. Corn was Dn ¼, to finish the day at 4-88. Kansas City Hard Red Winter Wheat prices for Dec. were Up 2, to settle at 7-64 ½.

Portland prices for Club Wheat with 10 ½ % Protein was Unch - Dn 5, ranging from 7-00 to 7-35. Soft white wheat with 10 ½ % Protein prices for Oct. were Dn 5 -Unch, ranging from 6-90 to 7-10. Hard Red Winter Wheat with 11 ½ percent Protein prices for Oct. were Up 2, ranging from 7-84 ½ to 7-89 ½. DNS wheat with 14 % protein, prices for Oct. was Up 2 ¾, settling at 8-52.

Live Cattle for Oct. was Up $.45, closing at 181.17 ½. Oct. Feeder Cattle were Up $.72 ½, to finish the day at 253.97 ½. Aug. Class III milk was Up $.18, to settle at 18.94.