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Bob Larson Marketline Report for Wednesday, December 20th
by Bob Larson, click here for bio

Program: Market Line
Date: December 20, 2017

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This is Bob Larson with the Market Line Report for Wednesday, December 20th. Much of the cattle market was down on Tuesday. From the floor of the CME in Chicago, here’s Joe Vaclavik …

Joe Vaclavik ... “We’ll start off with the cash trade which really surprised a lot of people this past Friday, trading as high as $120 witch was up $3 or $4 from the previous week. So, we started off this week on a positive note here on Monday, especially in that nearby December futures contract. The deferred contracts, your February’s and April’s out into the summer, did not enjoy that same kind of strength, but that nearby December contract very quickly coming up to where the cash market left off this past Friday. The boxed beef has been kind of the opposite. We’ve been very soft here recently. The boxed beef and choice beef markets topped out in the $210 to $220 range several weeks ago. We’ve now reverted back down into the $200 to $205 range. So, a little bit of weakness in contrast to the stronger cash trade.”

Chicago March Wheat prices closed yesterday dn 1 at 419

March corn was up ½ at 347 ½

Portland prices for soft white wheat of Ordinary Protein for December ended the day unch ranging from 5-11 to 5-30 Hard Red Winter wheat with 11 ½ % protein, prices for December were up 6 ¾ ranging from 5-69 ¼ to 5-79 ¼ DNS wheat with 14 % protein, prices for December were dn ¾ ranging from 7-39 ¼ to 7-45 ¼

Live Cattle for December were up $1.07 ½ at 120.10 January Feeder cattle are dn $.10 to 147.80 December Class III milk was dn .01 cents at 15.49

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