Strain In The Beef Market Continues

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Wednesday. Cattle continue to cool off, as consumers tighten up and Inflation adds more strain on the market. Let’s go to Virginia McGathey with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for Sept. closed the day Up ½, to finish at 6-81 ½. Dec. Corn was Up 3, to finish the day at 4-98 ¾. Kansas City Hard Red Winter Wheat prices for Dec. were Dn ¾, to settle at 7-81 ½.

Portland prices for Club Wheat with 10 ½ % Protein were Up 5 -10, ranging from 7-05 to 7-60. Soft White Wheat with 10 ½ % Protein prices for Oct. were UNCH, ranging from 6-95 to 7-35. Hard Red Winter Wheat with 11 ½ percent Protein prices for Oct. were Dn ¾, ranging from 8-01 ½ to 8-06 ½. DNS wheat with 14 % protein, prices for Oct. were Up 5, to settle at 8-95½.

Live Cattle for Oct. were Dn $.52 ½, closing at 180.90. Sept. Feeder Cattle were Dn $1.45, to finish the day at 249.42 ½. Sept. Class III milk was Up $.03, to settle at 17.97.