Brutal Day In The Beef Markets
This is Matt Rice with the Ag Information Network and today’s Market Line Report for Wednesday. The Beef market saw big losses yesterday, as some analysts suggest long liquidation contracts are to blame. Let’s go to Oliver Sloup with the CME Group to hear more.
Chicago Soft Red Winter Wheat prices for Dec. closed the day Unch, to finish at 5-89. Dec. Corn was Dn 1 ¼, to finish the day at 4-94 ½. Kansas City Hard Red Winter Wheat prices for Dec. were Dn 4, to settle at 7-10 ½.
Portland prices for Club Wheat with 10 ½ % Protein were Up 5-20, ranging from 7-10 to 7-50. Soft White Wheat with 10 ½ % Protein prices for Nov. were Up 5-10, ranging from 6-90 to 7-25. Hard Red Winter Wheat with 11 ½ percent Protein prices for Nov. were Dn 4, ranging from 7-30 ½ to 7-50 ½. DNS wheat with 14 % protein, prices for Nov. were Dn 2 ½, ranging from 8-16 ½ to 8-36 ½.
Live Cattle for Dec. were Dn $2.75, closing at 188.47 ½. Nov. Feeder Cattle were Dn $5.82 ½, to finish the day at 256.87 ½. Oct. Class III milk was Dn $.31, to settle at 16.98.