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Bob Larson Marketline Report for Wednesday, March 21st
by Bob Larson, click here for bio

Program: Market Line
Date: March 21, 2018

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This is Bob Larson with the Market Line Report for Wednesday, March 21st. The cattle market holds steady on Tuesday. From the floor of the CME in Chicago, here's Joe Vaclavik.

VACLAVIK ... "The live cattle market traded both sides of unchanged here on Tuesday. We did post some fresh multi-week lows early in the session and then saw a little bit of a rebound. All in all, the cattle markets been under quite a bit of pressure here recently. Nearby April futures, I believe, have lost $8 a hundred weight since chopping here during the last couple of weeks. The cash cattle market maintains some strength. I believe we saw some light cash trade at $126 early this week which would be down a couple of dollars from the previous trade, but still leaves us with a futures market that is drastically undervalued relative to the cash market. We will have to see some convergence once April futures get into the delivery period during the first week of April."

Chicago May Wheat prices closed yesterday up 2 ¼ at 453 ¼

May Corn was dn ½ at 374 ½

Portland prices for soft white wheat of Ordinary Protein for May ended the day up 2 ¼ ranging from 5-58 to 5-60 Hard Red Winter wheat with 11 ½ % protein, prices for March were dn ¼ ranging from 6-00 to 6-25 DNS wheat with 14 % protein, prices for March were dn 3 ¼ ranging from 7-08 ¼ to 7-28 ¼

Live Cattle for April were dn $.65 at 119.55 March Feeder cattle are dn $.67 ½ to 137.85 March Class III milk was dn $.01 cents at 14.28

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