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Bob Larson Marketline Report for Thursday, April 5th
by Bob Larson, click here for bio

Program: Market Line
Date: April 05, 2018

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This is Bob Larson with the Market Line Report for Thursday, April 5th. Chinese tariffs play a big role on Wednesday’s beef market. From the floor of the CME in Chicago, here's Virginia McGathey.

McGATHEY ... "Oh, a lot of crazy things happening today. Cattle gapped down. It seems that the beef joined pork on the Chinese tariffs list and that really sent the market tumbling. The market has been actually trending down since February 20th and that was where its high was. And it seems that the final jolt came today when they announced that the beef was going to be on the list. Now, it seems that the market has already had some weak price and, interestingly enough, that it’s a small beef market with China, but they were hopeful that everything was going to increase after they had so many workings last year. So, that definitely would put the stopping on that for right now, so we’re going to be watching that a little bit closer."

Chicago May Wheat prices closed yesterday dn 1 ¾ at 455 ½

May Corn was dn 7 ½ at 380 ½

Portland prices for soft white wheat of Ordinary Protein for May ended the day unch ranging from 5-65 to 5-78 Hard Red Winter wheat with 11 ½ % protein, prices for April were up 1 ¼ ranging from 6-21 to 6-46 DNS wheat with 14 % protein, prices for April were dn 6 ¼ ranging from 6-91 ¾ to 7-21 ¾

Live Cattle for April were up $1.05 at 112.95 April Feeder cattle are up $3.97 ½ to 134.62 ½ April Class III milk was up $.01 cents at 14.45

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