Heavy Pressure In Cattle Market

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Wednesday. Heavy pressure continues in the Beef Market ahead of the Thursdays WASDE report. 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 5 ½, to finish at 5-70 ¼. Dec. Corn was Dn 8 ¾, to finish the day at 4-68 ½. Kansas City Hard Red Winter Wheat prices for Dec. were Dn 13 ¼, to settle at 6-32 ½.

Portland prices for Club Wheat with 10 ½ % Protein was Unch, ranging from 7-00 to 7-40. Soft white wheat with 10 ½ % Protein prices for Jan. were Unch, ranging 6-90 to 7-25. Hard Red Winter Wheat with 11 ½ percent Protein prices for Jan. were Dn 13 ¼, ranging from 6-83 ½ to 6-98 ½. DNS wheat with 14 % protein, prices for Jan. were Dn 5, ranging from 8-10 ½ to 8-20 ½.

Live Cattle for Dec. were Dn $2.55, closing at 178.77 ½. Jan. Feeder Cattle were Dn $5.60, to finish the day at 230.82 ½. Dec. Class III milk was Dn $.24, to settle at 16.87.