Limit Up Day for Cattle Markets

Good crop conditions and good weather means lower grain markets for Tuesday but live and feeder cattle markets were red hot. From the floor of the CME Group, Greg Wagner shares 
Wagner: “Hello grain trade at the CME group for Tuesday — down across the board. In the meat complex dynamic powerful up moves. That is in cattle, feeder cattle as well as hogs. You see these front month August cattle go up limit — up $3 bucks. October cattle up about $2.85 and feeder cattle up the limit $3 bucks as far as the eye can see — as far as the spectrum of the contracts go.”
Chicago September Wheat ended Tuesday down 5 and 1/2 cents at 5-24 and 1/2. September corn ended the day down 3 and 3/4 cents at 3-60 and 1/4.
Portland prices for soft white wheat were mixed down 5 and 1/2 to up 9 and 1/2 cents at mostly 6-68 and 1/2. White club wheat prices were mixed down 5 and 1/2 to up 24 and 1/2 cents at mostly 7-18 and 1/2. Hard Red Winter wheat with 11.5 percent protein prices were down 6 and 3/4 cents at mostly 7-22 and 1/4. DNS wheat with 14 percent protein prices were mixed down 4 and 1/2 cents to up 15 and 1/2 cents at mostly 8-01 and 3/4.
August live cattle were limit up $3.00 on Tuesday at 155-95. August Feeder cattle were limit up $3.00 at 216-02 and half. August class III milk was up 20 cents at 21-60.