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Bob Larson Marketline Report for Friday, October 19th
by Bob Larson, click here for bio

Program: Market Line
Date: October 19, 2018

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This is Bob Larson with the Market Line Report for Friday, Oct 19th. Cattle supplies are too much for traders in Thursday’s market. From the floor of the CME in Chicago, here’s Terry Roggensack.

ROGGENSACK … “We think the market has a strong possibility of seeing some weakness over the near term. The cash market has been hovering near $111.00 for five weeks in a row. The December futures continues to want to hold a premium up near the $117 to $118 level and having a very difficult time trying to hold on to that premium. On feed supplies, the trade estimates for Friday’s update would suggest 106.4% of a year ago or an increase of 6.4% in on feed supplies as of the first of the month.”

Chicago Dec Wheat prices closed yesterday dn 4 ½ at 512 ½

Dec Corn was dn 3 ½ at 370 ¼

Portland prices for soft white wheat of Ordinary Protein for Oct ended the day unch ranging from 6-00 to 6-25 Hard Red Winter wheat with 11 ½ % protein, prices for Oct were dn 6 ¼ ranging from 6-24 ¾ to 6-44 ¾ DNS wheat with 14 % protein, prices for Oct were dn 3 ¼ ranging from 6-70 to 6-80

Live Cattle for Oct were up $.15 at 112.87 ½ Oct Feeder cattle are up $1.17 ½ to 155.45 Oct Class III milk was dn .05 cents at 15.56

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