Marketline Report for Wednesday, September 26th
This is Bob Larson with the Market Line Report for Wednesday, Sept 26th. Cattle on Feed Report gives the market a boost on Tuesday. From the floor of the CME in Chicago, here's Terry Roggensack.ROGGENSACK ... "Cattle on feed lots for more than 90 days now up 6.5% from a year ago, up 8.2% from the five-year average. This means a lot of market-ready cattle into the fourth quarter. Cold storage report, also out yesterday, frozen beef stocks at the end of August were up 5.6% from a year ago and also at a record high for the end of August. Frozen beef stocks were also up 4% from July. The ten-year average increase in stocks from July to August is typically 0.1%."
Chicago Dec Wheat prices closed yesterday dn 6 ¼ at 521
Dec Corn was up 3 ¼ at 363 ¾
Portland prices for soft white wheat of Ordinary Protein for Sept ended the day unch ranging from 5-90 to 6-11 Hard Red Winter wheat with 11 ½ % protein, prices for Sept were dn 7 ranging from 6-12 to 6-32 DNS wheat with 14 % protein, prices for Sept were dn 3 ¼ ranging from 6-66 to 6-76
Live Cattle for Oct were up $.17 ½ at 112.50 Sept Feeder cattle are up $.17 ½ to 156.70 Sept Class III milk was up .01 cents at 16.14