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Bob Larson Marketline Report for Friday, August 17th
by Bob Larson, click here for bio

Program: Market Line
Date: August 17, 2018

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This is Bob Larson with the Market Line Report for Friday, Aug 17th. The cattle market continues to drift lower on Thursday. From the floor of the CME in Chicago, here's Terry Roggensack.

ROGGENSACK ... "We’ve had a recent setback off of the August highs for October cattle mainly on increased supply. The market, again, drifting lower since that August 3rd peak on increasing supply issues. Demand has remained very strong, both export and U.S. consumer demand, mainly just from very strong readings on consumer confidence and restaurant usage. Demand seasonality has a tendency over the short term to improve right into that Labor Day Holiday. We’re going to have much less heat, less humidity and it looks like weather for demand is also going to be good into that Labor Day Holiday.”

Chicago Sept Wheat prices closed yesterday up 10 at 542

Sept Corn was up 3 ¾ at 365 ½

Portland prices for soft white wheat of Ordinary Protein for Sept ended the day unch ranging from 6-15 to 6-28 Hard Red Winter wheat with 11 ½ % protein, prices for Sept were up 12 ¼ ranging from 6-47 ½ to 6-57 ½ DNS wheat with 14 % protein, prices for Sept were up 12 ½ ranging from 6-81 ¼ to 6-96 ¼

Live Cattle for Aug were dn $.18 at 108.42 ½ Aug Feeder cattle are up $1.22 ½ to 150.30 Aug Class III milk was dn .03 cents at 14.97

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