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Bob Larson Market Line Report Friday May 5th
by Bob Larson, click here for bio

Program: Market Line
Date: May 05, 2017

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This is Bob Larson with the Market Line Report for Friday May 5th. Mixed results in the cattle market Thursday continues a sting of upside trading. With more from the floor of the CME in Chicago, here’s Joe Vaclavik …

Vaclavik … “The live cattle market was mixed on Thursday. We’ve had an enormous amount of volatility this week. A limit up-trade for a couple of days in a row. As a matter of fact, I think we’ve seen higher closes in 19 of the last 21 trading sessions which is really just a phenomenal run here. So, a lot of volatility. We did see the market spike up into some new highs this morning. We then saw the market set back a little bit. So, maybe the markets just become exhausted here after what’s been a phenomenal bull run.”

Chicago May Wheat prices closed yesterday dn 17 at 425 ¾ May corn ended the day dn 8 ¼ at 358 ½

Portland prices for soft white wheat of Ordinary Protein for May ended the day dn 5 ¼ ranging from 4-57 ¾ to 4-85 Hard Red Winter wheat with 11 ½ % protein, prices for May were dn 18 ¾ ranging from 5-14 ½ at 5-34 ½ DNS wheat with 14 % protein, prices for May were up ¼ ranging from 6-47 ½ to 6-67 ½

Live Cattle for June were up $1.25 at 131.27 ½ May Feeder cattle were dn $5.02 ½ at 148.25 Class III milk was up 18 cents at 15-50.

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