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Bob Larson Marketline Report for Wednesday, March 7th
by Bob Larson, click here for bio

Program: Market Line
Date: March 07, 2018

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This is Bob Larson with the Market Line Report for Wednesday, March 7th. The Cattle market

shows signs of life on Tuesday. From the floor of the CME in Chicago, here's Joe Vaclavik.

VACLAVIK ... "Started the day higher, then reverted back lower, so kind of an indecisive type deal. We're

back to a positive basis situation here. February futures are off the board and the cash market is sitting well

above nearby February futures, trading near the $123 mark. We had cash trade last week near $126. We'll

see if we get some convergence going here later in the week. We've got the Fed Cattle Exchange on Wednesday.

We'll see what develops in the country here later in the week. The boxed beef market has been very strong, really

a pretty impressive rally there when you think about it . The choice boxes up into the mid $220's We had been

in the $200 to $210 range for several weeks prior to this rally so strong demand there on the boxed beef side helping

to support prices at the very least."

Chicago March Wheat prices closed yesterday dn 1/4 at 501

March corn was up 1 1/2 at 379 1/2

Portland prices for soft white wheat of ordinary protein for March ended the day unch ranging

from 5-40 to 5-69. Hard Red Winter wheat with 11 1/2 % protein, prices for March were dn 4

ranging from 6-76 1/2 to 7-11 1/2 . DNS wheat with 14% protein, prices for March were up 4 3/4

ranging from 7-44 to 7-59

Live Cattle for April were dn $.40 at 122.80. March Feeder Cattle were dn $.85 to 144.42 1/2

March Class III Milk was up $.02 at 14.17

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