Marketline Report for Friday, January 4th
This is Bob Larson with the Market Line Report for Friday, Jan 4th. Live cattle are down in the first numbers of 2019. From the floor of the CME in Chicago, here's Virginia McGathey.
McGATHEY ... "The first call for 2019 seems to be at a discount. The delay perhaps has caused this. I think that there isn't going to be any changes tomorrow either so I suspect that we'll see the market maybe a little bit easier, but even maybe moving sideways. Let's look for Monday for them to really shore up this market because this would be normally a time where the market would balance out. So, we're going to watch if something comes out of the new Congress, either later today or tomorrow, we could possible see some movement on the idea that there's going to be some kind of change or some kind of progress in the talks with U.S. and China because that would be significant, certainly for the livestock market."
Chicago March Wheat prices closed yesterday up 7 at 514
March Corn was up 4 at 380 ¼
Portland prices for soft white wheat of Ordinary Protein for Jan ended the day unch ranging from 6-15 to 6-35 Hard Red Winter wheat with 11 ½ % protein, prices for Jan were up 11 ranging from 6-53 ½ to 6-63 ½ DNS wheat with 14 % protein, prices for Jan were up 11 ¼ ranging from 6-60 ¼ to 6-70 ¼
Live Cattle for Feb were dn $.30 at 123.20 Jan Feeder cattle are dn $1.42 ½ to 146.35 Jan Class III milk was dn .03 cents at 14.27
