Pressure In Beef Market Picks Up

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Thursday. Pressure in the Beef Market continues, as Feeder Cattle finish nearly $8 lower. 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 11 ½, to finish at 5-80 ¾. Dec. Corn was Dn 8, to finish the day at 4-68. Kansas City Hard Red Winter Wheat prices for Dec. were Dn 7 ¾, to settle at 6-47 ¼.

Portland prices for Club Wheat with 10 ½ % Protein was Unch to Dn 5, ranging from 7-00 to 7-40. Soft white wheat with 10 ½ % Protein prices for Jan. were Dn 5 to Unch, ranging 6-90 to 7-25. Hard Red Winter Wheat with 11 ½ percent Protein prices for Jan. were Dn 6 ¼, ranging from 6-98 ¼ to 7-13 ¼. DNS wheat with 14 % protein, prices for Jan. were Dn 1 ½, ranging from 8-18 ½ to 8-28 ½.

Live Cattle for Feb. were Dn $5.00, closing at 174.47 ½. Jan. Feeder Cattle were Dn $7.85, to finish the day at 224.92 ½. Dec. Class III milk was Dn $.09, to settle at 17.04.