Marketline Report for Friday, December 1st
This is Bob Larson with the Market Line Report for Friday, December 1st. Cattle trading was down, but could have been worse. From the floor of the CME in Chicago, here's Joe Vaclavik ...
Joe Vaclavik ... "The live cattle market traded both sides of unchanged here on Thursday, but was sharply lower here for a good chunk of the session. We had some of the contracts touch near limit downs so there was some intra-day weakness here certainly. Cash cattle market has yet to be established this week. We saw nothing change hands on the fed cattle exchange yesterday. Last week, we had cash cattle trade in the $118 to $120 range. We do know that the boxed beef has been quite a bit weaker here posting some one month lows this week. Choice boxes were under $206 at the last quote that I saw here today and may have even drifted lower at midday. So, boxes under a little bit of pressure and futures kind of following along. Perhaps that will translate into a weaker cash trade later this week."
Chicago Dec Wheat prices closed yesterday dn 7 ¼ at 409 ¼
December corn was up 2 ¾ at 341 ¾
Portland prices for soft white wheat of Ordinary Protein for December ended the day dn 1 ¾ ranging from 5-13 to 5-20 Hard Red Winter wheat with 11 ½ % protein, prices for December were up 1 ¼ ranging from 5-74 ½ to 5-91 ½ DNS wheat with 14 % protein, prices for December were dn 1 ¾ ranging from 7-21 ¾ to 7-41 ¾
Live Cattle for December were dn $.57 ½ at 119.80 January Feeder cattle are dn $1.40 to 154.17 ½ December Class III milk was up .10 cents at 15.35
