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Bob Larson Marketline Report for Monday, April 2nd
by Bob Larson, click here for bio

Program: Market Line
Date: April 02, 2018

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This is Bob Larson with the Market Line Report for Monday, April 2nd. The commodity markets were closed on Good Friday. But with Thursday’s cattle report, From the floor of the CME in Chicago, here's Joe Vaclavik.

VACLAVIK ... "The live cattle market was sharply lower here on Thursday ahead of a 3-day holiday weekend. We were limit down in many of the live cattle and feeder cattle contracts. So, kind of some ugly closes here. These are the worst prices we’ve seen since July and August of last year so the chart reading very ugly here as we plunge into some new lows. The cash market has been softer as well. I believe most of the cash trade was in the $121 neighborhood which would be off about $5 on the week. Now granted, we’ve still got a big positive basis intact. Nearby futures well below that $121 mark, but everything kind of uniformly falling lower here this week."

Chicago May Wheat prices closed yesterday up 5 ½ at 451 ¾

May Corn was up 14 ¼ at 387 ¾

Portland prices for soft white wheat of Ordinary Protein for May ended the day unch ranging from 5-63 to 5-76 Hard Red Winter wheat with 11 ½ % protein, prices for March were up 6 ¼ ranging from 5-97 ¼ to 6-27 ¼ DNS wheat with 14 % protein, prices for March were dn 11 ranging from 6-93 ½ to 7-13 ½

Live Cattle for April were dn $2.25 at 113.45 March Feeder cattle are dn $.37 ½ to 135.57 ½ March Class III milk was dn $.02 cents at 14.23

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