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Bob Larson Marketline Report for Friday, March 9th
by Bob Larson, click here for bio

Program: Market Line
Date: March 09, 2018

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This is Bob Larson with the Market Line Report for Friday, March 9th. The cattle market gets bounced around on Thursday. From the floor of the CME in Chicago, here's Joe Vaclavik.

VACLAVIK ... "The live cattle market traded sharply lower here on Thursday trading into some fresh multi-week lows, as a matter of fact, we’ve got a live basis situation. The cash cattle market again traded near $126 here this week and you’ve now got nearby futures a good $3 to $4 below that so we’re in a positive basis situation which is something that we’ve seen before. We’ve seen the situation even change course from time to time where we’ll go from a positive basis very quickly to a negative basis, but for the moment here, the cash market not necessarily reflective of what’s going on in the futures market or maybe visa-versa."

Chicago March Wheat prices closed yesterday up 1 ¾ at 495 ½

March corn was up 6 ½ at 385 ¼

Portland prices for soft white wheat of Ordinary Protein for March ended the day unch ranging from 5-40 to 5-78 Hard Red Winter wheat with 11 ½ % protein, prices for March were dn 1 ranging from 6-68 ¼ to 6-88 ¼ DNS wheat with 14 % protein, prices for March were up 4 ¾ ranging from 7-39 ¾ to 7-54 ¾

Live Cattle for April were dn $1.20 at 122.05 March Feeder cattle are dn $2.02 ½ to 142.10 March Class III milk was up $.03 cents at 14.16

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