Feeder Cattle Break Into New Contract High's

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Tuesday. Tighter supplies in the beef market continue to push contracts into unseen territory. 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 4 ¾, to finish at 6-17. Dec. Corn was Up 8 ¼, to finish the day at 4-96 ¼. Kansas City Hard Red Winter Wheat prices for Dec. were Dn 14 ¾, to settle at 7-49 ¾.

Portland prices for Club Wheat with 10 ½ % Protein were Unch, ranging from 7-00 to 7-35. Soft White Wheat with 10 ½ % Protein prices for Oct. were UNCH, ranging from 6-90 to 7-10. Hard Red Winter Wheat with 11 ½ percent Protein prices for Oct. were Dn 14 ¾, ranging from 7-69 ¾ to 7-74 ¾. DNS wheat with 14 % protein, prices for Oct. were Dn 10 ½, to settle at 8-41 ½.

Live Cattle for Oct. were Up $.37 ½, closing at 181.55. Oct. Feeder Cattle were Up $3.05, to finish the day at 257.02 ½. Sept. Class III milk was Dn $.07, to settle at 18.87.