Marketline Report for Tuesday, January 16th

Marketline Report for Tuesday, January 16th

Bob Larson
Bob Larson
This is Bob Larson with the Market Line Report for Tuesday, January 16th. No trading on the MLK Holiday, but with Friday's livestock results ... From the floor of the CME in Chicago, here's Virginia McGathey ...

Virginia McGathey ... "Cattle today was a mixed bag somewhat. The market was, really had no fundamental news to give it any direction. It's really holding the futures to kind of a standstill. Last week's sell-off really found the market falling off the edge and it didn't bring in a new wave of selling. And, so the market has been kind of treading water for the last couple of days. Seasonally, this is a time where we would normally expect the market to rally or get a little bit more demand. That kind of hasn't come yet, but the U.S. dollar index dropping is offering a little bit of help and a little bit of support in the market."

Chicago March Wheat prices closed yesterday dn 12 ¾ at 420 ½

March corn was dn 2 ½ at 347 ¼

Portland prices for soft white wheat of Ordinary Protein for January ended the day dn 6 ½ ranging from 5-20 ½ to 5-33 Hard Red Winter wheat with 11 ½ % protein, prices for January were dn 14 ranging from 5-71 ¼ to 5-86 ¼ DNS wheat with 14 % protein, prices for January were dn 16 ¼ ranging from 7-27 ¾ to 7-47 ¾

Live Cattle for February were up $.30 at 117.50 January Feeder cattle are up $.52 ½ to 144.47 ½ January Class III milk was dn .05 cents at 13.75

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