Marketline Report for Thursday, December 27th

Marketline Report for Thursday, December 27th

Bob Larson
Bob Larson
This is Bob Larson with the Market Line Report for Thursday, Dec 27th. Live cattle hold steady in trading a day after Christmas. From the floor of the CME in Chicago, here's Virginia McGathey.

McGATHEY ... "Today, the cattle was firm. It seems that the seasonal surge and demand is really pushing the market up. If you take a look at the chart it looks very strong and just kind of driving like a well-oiled machine. January looks like it's going to significantly improve in the demand and support the futures on the rise right now. Plus, it's a short week and the choice and select beef products are performing very well. Also, this was a little bit more of a surprise, we expected that the market would have at least leveled off a little bit, but it seems to be marching forward."

Chicago March Wheat prices closed yesterday dn 6 ½ at 510 ¼

March Corn was dn 4 ½ at 373 ¼

Portland prices for soft white wheat of Ordinary Protein for Dec ended the day unch ranging from 6-15 to 6-30 Hard Red Winter wheat with 11 ½ % protein, prices for Dec were dn 7 ¼ ranging from 6-50 ½ to 6-55 ½ DNS wheat with 14 % protein, prices for Dec were dn 12 ranging from 6-59 ¼ to 6-66 ¼

Live Cattle for Dec were up $.47 ½ at 121.55 Jan Feeder cattle are up $.72 ½ to 148.27 ½ Dec Class III milk was up .01 cents at 13.84

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