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Bob Larson Marketline Report for Friday, November 9th
by Bob Larson, click here for bio

Program: Market Line
Date: November 09, 2018

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This is Bob Larson with the Market Line Report for \Friday, Nov 9th. The cattle market is off amid uncertainty in Thursday trading. From the floor of the CME in Chicago, here’s Virginia McGathey.

McGATHEY … “Cash trade has been very very slow after the election. Nothing doing really and the futures have slipped now that it’s over and it’s kind of confirming the selloff that started on Monday. It has a few of the traders concerned that there just isn’t anything to shore it up here. That sharp drop in the boxed beef sales, I think, is also weighing heavy on these markets right now and there just isn’t a lot of participation. I expect that when we get a lot more traders to step back into the market that it will shore it up and we’ll get a few bargain hunters stepping in. The feeders were also down and that’s because most of the sales were really lower and that’s bringing everything down. There is some worry that there’s going to be some of the demand is going to decline earlier than expected.”

Chicago Dec Wheat prices closed yesterday dn 2 ½ at 507 ¼

Dec Corn was dn 1 ¼ at 373 ¼

Portland prices for soft white wheat of Ordinary Protein for Nov ended the day unch ranging from 6-20 to 6-35 Hard Red Winter wheat with 11 ½ % protein, prices for Nov were dn 5 ranging from 6-37 ¼ to 6-55 ¼ DNS wheat with 14 % protein, prices for Nov were dn ¾ ranging from 6-80 to 6-90

Live Cattle for Dec were up $.45 at 116.60 Nov Feeder cattle are up $.25 to 150.10 Nov Class III milk was dn .02 cents at 14.44

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