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Bob Larson Marketline Report Wednesday July 12th
by Bob Larson, click here for bio

Program: Market Line
Date: July 12, 2017

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This is Bob Larson with the Market Line Report for Wednesday July 12th. The cattle market shows improvement in trading Tuesday. From the floor of the CME in Chicago, here’s Joe Vaclavik …

Vaclavik ... “The live cattle market was higher here on Tuesday. Futures market has been kind of back and forth here recently. You know, we posted some fresh three month lows last week and we’ve seen a little bit of a rebound. Now, has anything changed here fundamentally? I don’t know. The cash markets’ still been under quite a bit of pressure. The most recent cash trade last week was in the $117 to $118 range and that’s a far cry from the trade in the mid-to-upper $130’s that we saw just four or five weeks ago. So, things have really changed on the cash side. Boxed beef market has also deteriorated here. We saw some highs up in the choice boxes, up in the $250’s just a few weeks ago and now we’re down into the $210’s.”

Chicago July Wheat prices closed yesterday up 5 at 529 July corn ended the day up ½ at 392

Portland prices for soft white wheat of Ordinary Protein for August ended the day dn 7 ranging from 5-50 to 5-68 Hard Red Winter wheat with 11 ½ % protein, prices for August were up ¼ ranging from 6-27 ½ to 6-52 ½ DNS wheat with 14 % protein, prices for August were dn ¾ ranging from 8-96 ¾ to 9-11 ¾

Live Cattle for August were up $1.05 at 115.25 Aug Feeder cattle were up $2.57½ at 147.87 ½ July Class III milk was up $.12 cents at 15-67.

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