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Bob Larson Marketline Report Friday, July 14th
by Bob Larson, click here for bio

Program: Market Line
Date: July 14, 2017

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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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