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Bob Larson Marketline Report for Monday, March 26th.
by Bob Larson, click here for bio

Program: Market Line
Date: March 26, 2018

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This is Bob Larson with the Market Line Report for Monday, March 26th. Tariff retaliation from China is felt on the cattle market Friday. From the floor of the CME in Chicago, here's Virginia McGathey.

McGATHEY ... "Today, cattle really made some new lows, some spillover selling from the hogs because of the China trade war is really pressing the market a little bit. It’s kind of testing that support level at $106 and it’s really kind of broke through that as well. It just seems that the cash cattle breaking down is starting to hurt the market and it could carry through to the spring and I think that there is some concerns that our beef are going to be declining somewhat and that’s going to make it really difficult to keep the market even above a dollar. Feeders were consolidating early for quite a while, but then they started to slip as well."

Chicago May Wheat prices closed yesterday up 4 ½ at 460

May Corn was up 9 ¾ at 602

Portland prices for soft white wheat of Ordinary Protein for May ended the day unch ranging from 5-60 to 5-70 ¼ Hard Red Winter wheat with 11 ½ % protein, prices for March were up 8 ¼ ranging from 6-09 ¼ to 6-34 ¼ DNS wheat with 14 % protein, prices for March were up 9 ¾ ranging from 7-17 ¾ to 7-37 ¾

Live Cattle for April were dn $2.10 at 115.95 March Feeder cattle are dn $1.82 ½ to 135.90 March Class III milk was up $.01 cents at 14.21

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