Beef Rally Takes Pause

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Tuesday. The Beef rally takes a break, despite tighter supplies throughout the industry. 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 13, to finish at 5-91 ¼. Dec. Corn was Dn 4 ¾, to finish the day at 4-71 ½. Kansas City Hard Red Winter Wheat prices for Dec. were Dn 11 ½, to settle at 7-35.

Portland prices for Club Wheat with 10 ½ % Protein were Unch – Dn 50, ranging from 6-95 to 7-35. Soft White Wheat with 10 ½ % Protein prices for Oct. were Dn 05 - UNCH, ranging from 6-80 to 7-00. Hard Red Winter Wheat with 11 ½ percent Protein prices for Oct. were Dn 11½, ranging from 7-55 to 7-65. DNS wheat with 14 % protein, prices for Oct. were Dn 11 ½, to settle at 8-27 ½.

Live Cattle for Oct. were Dn $.82 ½, closing at 191.00. Oct. Feeder Cattle were Dn $3.52 ½, to finish the day at 260.95. Sept. Class III milk was Dn $.03, to settle at 18.37.