Cattle Heating Up

Cattle Heating Up

Matt Rice
Matt Rice
This is Matt Rice with the Market Line Report for July 19th. Cattle heating up along with the weather, prices continue to hold strong. Here's Jack Scoville from the floor of the CME in Chicago with the USDA.

Scoville " Hi, it's been a higher day here for cattle and hogs here today. At least generally, hogs more of a mixed tone but the cattle solidly higher here today. I think reflecting some potential for some stress out in the Great Plains where the temperatures are already very hot, with temperatures expanding over the week. Overall we're looking at some triple digit temperatures for the southern half of the Great Plains, where the majority of cattle are grown and even the higher corn costs and the better price action of the grain not really doing too much to inhibit the rally potential in the cattle."

Chicago Sept. Wheat prices closed yesterday up 4 ¾, at 428 ½. Sept. corn ended the day up 4 ¾, at 357 even. Portland prices for soft white wheat of Ordinary Protein for July ended the day unch, ranging from 5 even to 5-46. Hard Red Winter wheat with 11 ½ % protein, prices for July were up 6 ¼, ranging from 4-90 to 5-10. DNS wheat with 14 % protein, prices for July were up 1 ¼, ranging from 5-73 to 5-93. Aug Live Cattle up $1.52 ½, at 112.42 ½. Aug Feeder cattle were up $1.60 to close the day at 141.30. July class III milk was up a penny at 15-34.

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