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Bob Larson Marketline Report for Friday, May 11th
by Bob Larson, click here for bio

Program: Market Line
Date: May 11, 2018

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This is Bob Larson with the Market Line Report for Friday, May 11th. Sellers are liking how the cattle market is shaping up. From the floor of the CME in Chicago, here's Terry Roggensack.

ROGGENSACK ... "We think it will be a good time to sell August cattle over the next couple of weeks. Several factors coming into play. Number one, second quarter beef production is expected to be up 10.2 percent from the year-ago levels. In addition, second quarter beef production expected to increase sharply from the first quarter. One of the biggest increases we’ve seen in history. Cash markets, second factor, would be that cash markets may have peaked out for the season. Nebraska cattle trading at $119 to $121 this week. We were $123 to $126 a week ago."

Chicago May Wheat prices closed yesterday dn 6 ¾ at 515 ¾

May Corn was unch at 394

Portland prices for soft white wheat of Ordinary Protein for May ended the day unch ranging from 5-75 to 6-00 Hard Red Winter wheat with 11 ½ % protein, prices for May were dn 4 ½ ranging from 6-52 to 6-62 DNS wheat with 14 % protein, prices for May were up 7 ¾ ranging from 7-59 to 7-79

Live Cattle for June were up $1.85 at 107.75 May Feeder cattle are up $1.45 to 138.75 May Class III milk was dn .04 cents at 15.23

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