Tight Cattle Supplies Continue To Drive Market

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Tuesday. Tight cattle supplies continue to drive the Beef Market and Cash Cattle. 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 9 ½, to finish at 5-66. Dec. Corn was Dn 2 ½, to finish the day at 4-78 ¼. Kansas City Hard Red Winter Wheat prices for Dec. were Up 2, to settle at 6-45.

Portland prices for Club Wheat with 10 ½ % Protein was Unch, ranging from 6-95 to 7-55. Soft white wheat with 10 ½ % Protein prices for Dec. were Unch, ranging 6-90 to 7-35. Hard Red Winter Wheat with 11 ½ percent Protein prices for Dec. were Up 2, ranging from 6-85 to 6-95. DNS wheat with 14 % protein, prices for Jan. were Dn 1 ¼, to settle at 8-06 ¾.

Live Cattle for Dec. were Up $1.02 ½, closing at 183.25. Jan. Feeder Cattle were Up $1.17 ½, to finish the day at 236.87 ½. Nov. Class III milk was Dn $.11, to settle at 17.29.