Record Lows In Live Cattle

Record Lows In Live Cattle

Matt Rice
Matt Rice
This is Matt Rice with the Market Line Report for, Aug 26th. Live cattle on their way to closing lower 9 sessions in a row, which would be a new record. Let's go to Oliver Sloup with II Trader from the floor of the CME in Chicago.

Sloup "Happy Thursday to you from the floor of the CME, here in Chicago. I'm Oliver Sloup with II Trader and your meat market update. It has been a choppy day, but really kind of turning around here this afternoon with the markets going into the red. Let's start looking at that live cattle contract, the big line in the sand for us was $1.08.52 1/2. That was the gap from July 27th, this could be interesting to see not only today but to close out the week. If we close out that gap and bounce or if we close below that gap."

Chicago Dec. Wheat prices closed yesterday dn 2 ½, at 423 ¾. Dec. corn ended the day dn 4 ¼, at 332 ¼. Portland prices for soft white wheat of Ordinary Protein for Nov. were dn 2 ½ to 4, ranging from 4-93 ¾ to 5-08. Hard Red Winter wheat with 11 ½ % protein, prices for Nov. were dn 1 ¾, ranging from 5-07 ¼ to 5-47 ¼. DNS wheat with 14 % protein, prices for Nov. were dn 4 ¼, ranging from 5-89 ½ to 6-24 ½. Dec. Live Cattle were dn 20 cents to finish the day at 109.85. Oct. Feeder cattle were dn 97 ½, at 138. Oct. class III milk was dn 19 cents at 17-09.

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