Marketline Report Friday, July 7th
This is Bob Larson with the Market Line Report for Friday July 7th. TCattle are the talk of the market today. With details from the floor of the CME in Chicago, here's Joe Vaclavik ...
Vaclavik ... "Live cattle market finished the day sharply higher here on Thursday and actually rebounded following a very poor start. Most of our live cattle contracts started the day at some three-month lows into the lowest level since April, I believe, but did reverse course. They came back, finished higher on the day so a pretty good performance here in the futures market. Now, some of the other fundamental factors have been not so positive. The box beef market, for example, has fallen sharply and saw another drop here on Thursday. As a matter of fact, I believe we've seen choice boxes drop $30 or more here just in the last three or four weeks. So, a pretty steep decline here in the boxed beef market."
Chicago July Wheat prices closed yesterday dn 20 ¼ at 520 ½ July corn ended the day dn 1 ½ at 380 ½
Portland prices for soft white wheat of Ordinary Protein for August ended the day dn 3 ranging from 5-47 to 5-58 Hard Red Winter wheat with 11 ½ % protein, prices for August were dn 23 ranging from 6-16 ½ to 6-41 ½ DNS wheat with 14 % protein, prices for August were dn 50 ¾ ranging from 8-69 to 8-84
Live Cattle for August were up $1.40 ½ at 115.45 Aug Feeder cattle were up $2.40 at 145.27 ½ July Class III milk was dn $.08 cents at 15-60.
