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Bob Larson Marketline Report for Friday, January 19th
by Bob Larson, click here for bio

Program: Market Line
Date: January 19, 2018

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This is Bob Larson with the Market Line Report for Friday, January 19th. Cattle continue to on the plus side in trading Thursday. From the floor of the CME in Chicago, here’s Larry Shover …

Larry Shover ... “After being up-limit yesterday, live cattle continues to push gains. You’ve got the February contract up about .90 cents, feeder up about .70 cents. Again, that’s on the back of being up near-limit yesterday. Also, feeder cattle skyrocketing really caught a lot of people off guard. When you consider consensus continues to worry about record inventories especially with the placements going forward. Yesterday’s news was boxed values were down on the day in both choice and select. Slaughter rates also down, at least comparing week-on-week what consensus was expecting to see.”

Chicago March Wheat prices closed yesterday up 3 ¾ at 424 ¾

March corn was dn 1 ½ at 351 ¼

Portland prices for soft white wheat of Ordinary Protein for January ended the day unch ranging from 5-20 to 5-32 Hard Red Winter wheat with 11 ½ % protein, prices for January were up 7 ½ ranging from 5-79 ½ to 5-94 ½ DNS wheat with 14 % protein, prices for January were dn 1¼ ranging from 7-25 ½ to 7-45 ½

Live Cattle for February were up $.97 ½ at 122.02 ½ January Feeder cattle are up $1.30 to 149.30 January Class III milk was up .01 cents at 13.85

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