Cattle prices are holding firm, but are they topping out?

Cattle prices are holding firm, but are they topping out?

Tommy Allen
Tommy Allen
I’m Tom Allen with the Market Line Report for July 29th. Cattle prices are holding firm, but are they topping out? Here’s Todd Horwitz with his perspective on the cattle market.

Horwitz: “We have seen exactly what we have been looking for along the road but we see prices finally start to sell off. We are starting to see the price on the market that we were looking for change. You can blame it on the global economy, or can say that high prices are finally starting to cure high prices. If you look accost the board at feeder prices are at $2.13, $2.14. You want to be a seller.

Chicago September Wheat ended the day up 8 & 1/4 at 512 & ¼. September corn ended up 2 even, at 3-75 1/2. Portland prices for soft white wheat of 10 1/2 % protein for August New Crop, ended up 8 & 1/4 to 7 3/4, ranging from 6-40 & ¾ to 6-50 & 3/4. Hard Red Winter wheat with 11 ½ % protein, prices for August New Crop were up 10 & ½ to 5 1/2, ranging from 5-64& 3/4 to 5-84 & 3/4.

DNS wheat with 14 % protein, prices for August New Crop were up 3 & 1/4, ranging between 6-20 & 1/4 to 6-55 & 1/4. August live cattle were up 2.02 &1/2, at 145. 05. August Feeder cattle were up 2.75 even, at 211.50. August class III milk was up 11 cents, at 16-10.

 

 

 

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