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Bob Larson Marketline Report Thursday, July 27th
by Bob Larson, click here for bio

Program: Market Line
Date: July 27, 2017

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This is Bob Larson with the Market Line Report for Thursday July 27th. The buyers were busy in Wednesday’s market. From the Allendale Broker Desk, here’s Steve Georgy ...

Vaclavik ... “We had a cattle on feed report from the USDA this past Friday and what they told us is that the placements were much larger than expected at 116% of last year. The trade had only expected about a 6% increase so overall that was seen as very, very negative. We saw a limit down-trade on Monday in both the live cattle and feeder cattle markets. The boxed beef market seems to have stabilized a little bit, but this was after a multi-week collapse where we went from north of $250 in choice boxes down to south of $210. So, that market has collapsed, but may have found some footing this week. We’ll see if we can hold that up into midweek.”

Chicago Sept Wheat prices closed yesterday up 3 ¾ at 478 ¼ Sept corn ended the day up 4 at 373

Portland prices for soft white wheat of Ordinary Protein for August ended the day up 3 ¾ ranging from 5-12 ¾ to 5-30 Hard Red Winter wheat with 11 ½ % protein, prices for August were up 2 ¾ ranging from 5-45 ½ to 5-70 ½ DNS wheat with 14 % protein, prices for August were up 12 ½ ranging from 8-30 to 8-50

Live Cattle for August were up $1.12 ½ at 114.45 Aug Feeder cattle were dn $.05 at 147.22 ½ Aug Class III milk was up $.04 cents at 16-35.

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