Beef Market Rebounds

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Thursday. Grain futures gapped lower yesterday, giving the Beef market room to rebound. 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 12, to finish at 5-68 ½. Dec. Corn was Dn 4, to finish the day at 4-80. Kansas City Hard Red Winter Wheat prices for Dec. were Dn 14, to settle at 6-49.

Portland prices for Club Wheat with 10 ½ % Protein was Unch, ranging from 7-00 to 7-55. Soft white wheat with 10 ½ % Protein prices for Dec. were Dn 05 - Unch, ranging 6-85 to 7-35. Hard Red Winter Wheat with 11 ½ percent Protein prices for Dec. were Dn 14, ranging from 6-89 to 6-99. DNS wheat with 14 % protein, prices for Dec. were Dn 7 ½, ranging from 7-95 ¾ to 8-10 ¾.

Live Cattle for Dec. were Up $.80, closing at 179.42 ½. Jan. Feeder Cattle were Up $1.70, to finish the day at 236.55. Nov. Class III milk was Dn $.12, to settle at 17.55.