Marketline Report for Tuesday, April 10th
This is Bob Larson with the Market Line Report for Tuesday, April 10th. The roller coaster continues on the trading floor Monday. From the floor of the CME in Chicago, here's Virginia McGathey.
McGATHEY ... "Today in cattle, the market was really choppy. It actually opened and went much higher and we had a nice little rebound, but some selling came in and kind of pushed it down a little bit. It seems that the cash cattle has been struggling some and that's what really brought the market back. But, it has been choppy but it's still staying a little bit higher. So, that means that it's kind of strong. It seems that the futures are still finding some buying and really starting to gain some strength because the selling was just too much over-sold right now. There has been, beef got swept up into the whole tariff problem, but that that's kind of settled down we can get back to business as to what we had and now it's holding above the lows and so, that really bodes well for the market going forward."
Chicago May Wheat prices closed yesterday up 18 ½ at 489 ½
May Corn was up 2 ¼ at 390 ¾
Portland prices for soft white wheat of Ordinary Protein for May ended the day up 10 ranging from 5-75 to 5-97 ¾ Hard Red Winter wheat with 11 ½ % protein, prices for April were up 16 ranging from 6-57 ¾ to 6-82 ¾ DNS wheat with 14 % protein, prices for April were up 19 ¼ ranging from 7-41 ½ to 7-71 ½
Live Cattle for April were dn $.20 at 112.00 April Feeder cattle are dn $.87 ½ to 134.25 April Class III milk was up $.05 cents at 14.46
