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Bob Larson Marketline Report Monday, July 10th
by Bob Larson, click here for bio

Program: Market Line
Date: July 10, 2017

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This is Bob Larson with the Market Line Report for Monday July 10th. Plenty of profit-taking to end the week. With Friday’s results from the floor of the CME in Chicago, here’s Virginia McGathey …

McGathey ... “The market is really looking for direction, but we’ve had light demand. Some of the cash sales have been really slowed down. It makes it very difficult for our market to move anywhere right now. We were normally expecting perhaps a bump in the market where feeders were steady today as well and that market was still looking for that post-July 4th bump to really give us a little bit of a head of steam here. It hasn’t come yet, but perhaps it’s a little bit late. Certainly, these triple-digit temperatures in the Northern Plains are definitely going to start to affect the cattle and the feeder markets. Right now, we expect that the feeding is going to be less and some of the weights may be reduced somewhat.”

Chicago July Wheat prices closed yesterday dn 3 ¾ at 517 ¼ July corn ended the day up 2 at 381 ¾

Portland prices for soft white wheat of Ordinary Protein for August ended the day dn 4 ranging from 5-43 to 5-58 Hard Red Winter wheat with 11 ½ % protein, prices for August were dn 3 ½ ranging from 6-13 to 6-38 DNS wheat with 14 % protein, prices for August were dn 4 ¾ ranging from 8-64 ¼ to 8-79 ¼

Live Cattle for August were dn $.17 ½ at 115.25 Aug Feeder cattle were up $.40 at 145.50 July Class III milk was dn $.12 cents at 15-60.

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