Marketline Report for Wednesday, May 25th

Marketline Report for Wednesday, May 25th

Bob Larson
Bob Larson
This is Bob Larson with the Market Line Report for Wednesday, July 25th. Cattle trading on the bearish side Tuesday. From the Allendale Trading desk, here's Terry Roggensack.

ROGGENSACK ... "First factor for the market, cattle-on-feed report and the cattle inventory report, both from the USDA, indicating a bearish tilt and we could see a bigger supply ahead. Second factor for the market, fourth quarter beef production expected to be up 4.3% from a year ago. More importantly, the shift in production from the third quarter to the fourth quarter, normally we see 150 to 300-million pounds less production in the fourth quarter than we do in the third quarter. This year, very rare, we're going to see 115-million increase from the third quarter to the fourth quarter."

Chicago Sept Wheat prices closed yesterday dn 3 ½ at 510 ¾

Sept Corn was dn 5 ¼ at 352 ¾

Portland prices for soft white wheat of Ordinary Protein for July ended the day unch ranging from 5-80 to 5-91 Hard Red Winter wheat with 11 ½ % protein, prices for July were dn 1 ranging from 6-24 ¾ to 6-34 ¾ DNS wheat with 14 % protein, prices for July were dn 7 ¼ ranging from 6-49 ¾ to 6-54 ¾

Live Cattle for Aug were dn $.67 ½ at 108.15 Aug Feeder cattle are dn $.50 to 152.97 ½ July Class III milk was up .01 cents at 14.20

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