Marketline Report for Monday, October 9th
This is Bob Larson with the Market Line Report for Monday, October 9th The livestock market ends the week on an up note. With more from the floor of the CME in Chicago, here's Virginia McGathey ...
McGathey ... "Today, cattle was up again! Rising cash and meat prices offered some real steady support to higher futures prices. It's a big surprise these past couple of days. The market is up and kind of has broken out of the channel it's been in. You know, beef production has also been higher and it's really like carrying the market a little bit further than expected, but the traders are enjoying it right now. Feeders are also on the rise. Supply is growing and the wide processing margins really are giving packers the ability to raise their bids which is helping the market across the board and really offering some optimism and that should really help support the market."
Chicago Dec Wheat prices closed yesterday up 2 ½ at 443 ½
December corn was up ½ at 349 ¾
Portland prices for soft white wheat of Ordinary Protein for October ended the day up 2 ¾ ranging from 5-18 ½ to 5-45 Hard Red Winter wheat with 11 ½ % protein, prices for October were up 2 ½ ranging from 5-36 ¾ to 6-01 ¾ DNS wheat with 14 % protein, prices for October were up 8 ¼ ranging from 7-33 ¾ to 7-53 ¾
Live Cattle for Oct were up $.87 ½ at 110.97 ½ October Feeder cattle are up $.37 ½ to 154.00 October Class III milk was up .05 cents at 16.78
