On Feed Report Slows Market

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Thursday. The Cash Cattle market continues to drive futures, despite the poor outcome of last weeks “On Feed” Report. Let’s go to Virginia McGathey with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for Dec. closed the day Up 5 ½, to finish at 5-61 ¾. Dec. Corn was Dn 3 ¾, to finish the day at 4-75. Kansas City Hard Red Winter Wheat prices for Dec. were Up 10 ¾, to settle at 6-40.

Portland prices for Club Wheat with 10 ½ % Protein was Up 5 – Unch, ranging from 7-00 to 7-35. Soft white wheat with 10 ½ % Protein prices for Jan. were Unch, ranging 6-90 to 7-30. Hard Red Winter Wheat with 11 ½ percent Protein prices for Jan. were Up 9 ¼, ranging from 6-90 ½ to 7-00 ½. DNS wheat with 14 % protein, prices for Jan. were Unch, to settle at 7-98 ½.

Live Cattle for Dec. were Up $.07 ½, closing at 183.62 ½. Jan. Feeder Cattle were Up $.82 ½, to finish the day at 238.02 ½. Dec. Class III milk was Up $.08, to settle at 17.13.