Marketline Report Friday, July 14th

Marketline Report Friday, July 14th

Bob Larson
Bob Larson
This is Bob Larson with the Market Line Report for Friday July 14th. Thursday was a day of correction in the cattle market. From the floor of the CME in Chicago, here's Joe Vaclavik ...

Vaclavik ... "The live cattle market was higher here on Thursday after a limit up performance on Wednesday. So, the board has acted much, much better here after posting some fresh three-month lows just a few sessions ago. So, we had a strong cash trade yesterday. As a matter of fact, a little bit stronger than a lot of people would have guessed. We traded some cattle on that fed cattle exchange, I believe, in the $117 up to about $119 range. And then we saw some cash cattle trade at the $120 number after that. So, I think it was a little bit better than the traded had expected and that's part of what helped boost the futures market. I also think that this is just kind of a technical rebound after what had been a pretty steep sell-off."

Chicago July Wheat prices closed yesterday dn 27 at 496 July corn ended the day dn 15 ¼ at 360

Portland prices for soft white wheat of Ordinary Protein for August ended the day dn 25 ¼ ranging from 5-21 ¾ to 5-35 Hard Red Winter wheat with 11 ½ % protein, prices for August were dn 28 ½ ranging from 5-85 ½ to 6-10 ½ DNS wheat with 14 % protein, prices for August were dn 33 ¼ ranging from 8-49 ½ to 8-64 ½

Live Cattle for August were dn $.45 at 117.85 Aug Feeder cattle were up $1.27 ½ at 153.52 ½ July Class III milk was dn $.04 cents at 15-59.

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