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Bob Larson Marketline Report for Thursday, June 28th
by Bob Larson, click here for bio

Program: Market Line
Date: June 28, 2018

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This is Bob Larson with the Market Line Report for Thursday, June 28th. Cattle trading traded both sides of unchanged on Wednesday. From the floor of the CME in Chicago, here's Virginia McGathey.

MGATHEY ... "Today, cattle was steady. The decent margins for the beef processors are holding up keeping the market right in there. However, new tariffs threaten to cap any real upside move and also there's a threat that's revealing itself of a noticeable slowdown in that restaurant industry. So, there is some worry that our domestic output isn't going to be as healthy as we tought it would be. Feeders were a little bit easier too. This late Summer discount that is expected could really put some pressure on the market. That does add it to the futures right now. The U.S. beef industry is really unhappy about what's happening with the tariffs because they were really sitting on the significant efforts that they were making for the lifting of the China beef ban."

Chicago July Wheat prices closed yesterday up 10 at 478 ½

July Corn was unch at 352

Portland prices for soft white wheat of Ordinary Protein for June ended the day unch ranging from 5-80 to 6-00 Hard Red Winter wheat with 11 ½ % protein, prices for June were up 2 ¼ ranging from 5-85 ¼ to 6-10 ¼ DNS wheat with 14 % protein, prices for June were dn 5 ½ ranging from 6-57 to 6-77

Live Cattle for June were up $.10 at 106.80 Aug Feeder cattle are dn $.32 ½ to 145.62 ½ June Class III milk was up .04 cents at 15.26

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