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Bob Larson Marketline Report for Monday, December 3rd
by Bob Larson, click here for bio

Program: Market Line
Date: December 03, 2018

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This is Bob Larson with the Market Line Report for Monday, Dec 3rd. G-20 trade talk speculations sends beef higher Friday. From the floor of the CME in Chicago, here’s Virginia McGathey.

McGATHEY … “The live cattle market was higher. There’s an uptick in the cash trade today and, go figure, we’re on the eve of the summit. But, watch for China to import more beef. That swine fever is really taking hold and got a lot of the country worried and China’s stepping up and starting to buy some of the beef. They certainly need a resolution more than the U.S. right now in relation to that. But, there is some cash cattle movement as well that finally came here at the end of the week and pushed the market up. Not so much for feeders. Feeders kind of slipped all day. Cautious traders are still holding steady, maybe not really convinced the market is moving higher. Although, as we get in to the end of the day there is some buying coming in and it’s firming it up, but it really looks like mostly unchanged.”

Chicago Dec Wheat prices closed yesterday up 19 ¼ at 515 ½

Dec Corn was up 6 ¼ at 366

Portland prices for soft white wheat of Ordinary Protein for Nov ended the day up 5 ranging from 6-20 to 6-30 Hard Red Winter wheat with 11 ½ % protein, prices for Dec were up 7 ¾ ranging from 6-60 ¼ to 6-70 ¼ DNS wheat with 14 % protein, prices for Nov were up 13 ¾ ranging from 6-88 ¾ to 6-98 ¾

Live Cattle for Dec were up $.32 ½ at 116.92 ½ Jan Feeder cattle are dn $.75 to 145.22 ½ Nov Class III milk was dn .01 cents at 14.46

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