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Bob Larson Marketline Report for Monday, March 12th
by Bob Larson, click here for bio

Program: Market Line
Date: March 12, 2018

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This is Bob Larson with the Market Line Report for Monday, March 12th. Cattle trade rebounds a bit on Friday. From the floor of the CME in Chicago, here's Virginia McGathey.

McGATHEY ... "The market actually traded on both sides of the coin from yesterday. The cash market was slow, but it definitely was holding steady. It seemed that there was some short covering that offered a little bit of help and also, in support of those futures. The beef cutoffs were actually very good yesterday. As they came out today, were also higher so that gave the market a little bit of a firm feel and it’s like holding the market pretty steady and higher. Feeders were a little bit steady, at least for the front month. The back month were a little bit lower and that just lets us know that the futures trade is consolidating and we’re consolidating near yesterday’s lows and so we’re not exactly sure which way to go."

Chicago March Wheat prices closed yesterday dn 5 ¾ at 491 ¼

March corn was dn 2 ¾ at 383 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 12 ¾ ranging from 6-55 ½ to 6-75 ½ DNS wheat with 14 % protein, prices for March were dn 7 ¼ ranging from 7-32 ½ to 7-47 ½

Live Cattle for April were up $1.35 at 123.25 March Feeder cattle are up $.77 ½ to 142.62 ½ March Class III milk was up $.04 cents at 14.20

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