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Bob Larson Marketline Report for Thursday, July 19th
by Bob Larson, click here for bio

Program: Market Line
Date: July 19, 2018

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This is Bob Larson with the Market Line Report for Thursday, July 19th. The Cattle market gets back a little in Wednesday trading. From the floor of the CME in Chicago, here's Virginia McGathey.

McGATHEY ... "We haven’t seen these highs in quite a while and based on what’s been happening all summer this is really looking good. That there’s better demand and that’s really attracting a lot more buying on the traders and they’re starting to scramble to load up on some of these futures. Now we know the market’s been relatively thin so it’s not taking much to get these markets off the ground. But, over the last couple of weeks, we’ve had some days that we were almost limit up and I think that’s the little tell that this market is really going to get on the move. So, we’re going to wait for this week’s physical trade. The supplies are a little bit tighter and I think that that could be sending the message. Tight supplies and a real worry that that’s going to come front and center as the big play and I think some of the traders are starting to try to get on board.”

Chicago Sept Wheat prices closed yesterday dn 3 ¼ at 494 ¼

Sept Corn was up 1 at 346 ¾

Portland prices for soft white wheat of Ordinary Protein for July ended the day unch ranging from 5-80 to 5-90 Hard Red Winter wheat with 11 ½ % protein, prices for July were dn 3 ranging from 6-07 ¾ to 6-17 ¾ DNS wheat with 14 % protein, prices for July were dn 5 ¼ ranging from 6-23 to 6-28

Live Cattle for Aug were up $2.52 ½ at 109.10 Aug Feeder cattle are up $3.17 ½ to 154.55 July Class III milk was dn .03 cents at 14.21

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