Feeders Flood The Market

Feeders Flood The Market

Matt Rice
Matt Rice
This is Matt Rice with the Market Line Report for May 30th. I hope everyone had a safe Memorial Day weekend, and again we want to thank all of our veterans. As we shift gears and take a look at the weekly feeder cattle review, cattle slipped further down the ladder early in the week but gained a little ground to close out the week. Greg Sanders covers the weekly Cattle update with the USDA.

Sanders "National slaughter cattle review for Thursday, May 26th 2016. On Thursday, trade and demand was moderate in Kansas with live sales $7 lower than last week at $1.25. Trade was light on light with moderate demand in the Texas panhandle and in Colorado. Live sales in both regions sold at $1.25. Steady compared to Tuesday in the Texas panhandle and mostly $5 lower compared to last week in Colorado."

Chicago July Wheat prices closed Friday up ¼, at 480 ¾. July corn ended the week up 4 ½, at 413 ¼. Portland prices for soft white wheat of 10 ½ % protein for June had a mixed market dn 2 ¾ and up ¼, ranging from 5-17 ¼ to 5-31 ½. Hard Red Winter wheat with 11 ½ % protein, prices for May were dn 2 ½, ranging from 5-34 ¾ to 5-49 ¾. DNS wheat with 14 % protein, prices for May were dn 6 ½, ranging from 6-18 to 6-33. June Live Cattle closed the week up 77 ½ cents at 119.70. Aug Feeder cattle were up $1.30, at 146.47 ½. June class III milk was dn 7 cents at, 12-87.

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