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Market Line Report Tuesday April 18th
by Bob Larson, click here for bio
Program: Market Line
Date: April 18, 2017
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McGathey “Cattle, up again, still surging for an eighth day. This is really a record for this time of year. We really expected easing of the market for the past six weeks and it was not to happen. The market still looks very strong. Cash prices last week were actually up and that’s what gave the market a kick today. Certainly, the feeder cattle have been up surging even further. They are actually leading the way of the livestock market because it seems like the beef production is up and that definitely shows there’s more optimism on the horizon and so that’s pushing the market higher.”
Chicago May Wheat prices closed yesterday dn 8 ¾, at 421. May corn ended the day dn 4 ¾, at 366 ½.
Portland prices for soft white wheat of Ordinary Protein for May ended the day dn 8 ¾ ranging from 4-41 to 4-75 Hard Red Winter wheat with 11 ½ % protein, prices for May were dn 11, ranging from 4-96 ¼ to 5-06 ¼. DNS wheat with 14 % protein, prices for May were dn 1 ½ ranging from 6-28 ¾ to 6-63 ¾. Feb.
Live Cattle were up $1.05, at 126.42 ½. May Feeder cattle were up $1.75 at 140.42 ½. Class III milk was up 01 cents at 15-24.
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