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Bob Larson Marketline Report for Friday, September 21st
by Bob Larson, click here for bio

Program: Market Line
Date: September 21, 2018

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This is Bob Larson with the Market Line Report for Friday, Sept 21st. A mixed bag in Thursday cattle trading. From the floor of the CME in Chicago, here's Terry Roggensack.

ROGGENSACK … “December cattle trading at a $7 to $8 dollar premium to the cash market. Normally, at this time of year, we’d be trading at about a $2.50 premium to the market. Fourth quarter beef production expected to be up significantly from the third quarter, something that’s a contra-seasonal move and fourth quarter beef production expected to be up 5.7% from a year ago. Cheap corn and the premium structure of the futures market gives producers an incentive to feed those cattle out to even heavier weights that adds to the production and could be considered a bearish force.”

Chicago Dec Wheat prices closed yesterday up 1 ½ at 522 ¼

Dec Corn was up 6 ¾ at 352 ¼

Portland prices for soft white wheat of Ordinary Protein for Sept ended the day unch ranging from 5-90 to 6-05 Hard Red Winter wheat with 11 ½ % protein, prices for Sept were up ¾ ranging from 6-17 to 6-37 DNS wheat with 14 % protein, prices for Sept were up ½ ranging from 6-73 ½ to 6-83 ½

Live Cattle for Oct were dn .65 at 112.75 Sept Feeder cattle are up $.15 to 156.02 ½ Sept Class III milk was unch cents at 16.14

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