Beef Market Remains Strong

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Thursday. 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 Up 9 ¾, to finish at 6-09. Dec. Corn was Dn ¼, to finish the day at 4-85 ¾. Kansas City Hard Red Winter Wheat prices for Dec. were Up 25, to settle at 7-49 ½.

Portland prices for Club Wheat with 10 ½ % Protein was Dn 10 & Up 5, ranging from 6-95 to 7-35. Soft white wheat with 10 ½ % Protein prices for Oct. were Unch – Dn 10, ranging from 6-85 to 7-00. Hard Red Winter Wheat with 11 ½ percent Protein prices for Oct. were Up 25, ranging from 7-69 ½ to 7-79 ½. DNS wheat with 14 % protein, prices for Oct. was Up 20 ¼, settling at 8-32 ½.

Live Cattle for Oct. was Up $2.75, closing at 182.70. Oct. Feeder Cattle were Up $2.17 ½, to finish the day at 256.47 ½. Oct. Class III milk was Up $.07, to settle at 18.95.