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Bob Larson Marketline Report for Tuesday, February 19th
by Bob Larson, click here for bio

Program: Market Line
Date: February 19, 2019

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This is Bob Larson with the Market Line Report for Tuesday, Feb 19th. Commodity markets are silent for the President’s Day holiday Monday. With Friday’s summary From the floor of the CME in Chicago, here’s Virginia McGathey.

McGATHEY … “The live cattle market, it was lower. The cash trade just seems almost nonexistent. We’ve been always waiting until the end of the week to see if the cash trade is going to come in and then give us an idea of some market direction, but not much has really been happening in the feed lots and that just shows you that there’s a lack of interest and that’s holding the futures back from pressing their up-trend that they have been in really for the past number of weeks. It looks to me that the deferreds were a little bit lower even though the front month was stronger than the deferreds, but the market is having somewhat of a pullback. Now the feeders fell much stronger so traders seem to be just giving up here at the end of the week. The futures just tumbled following along, but actually stayed inside yesterday’s range so there wasn’t that extra follow-through.”

Chicago March Wheat prices closed yesterday dn 2 ¾ at 503 ¼

March Corn was unch at 374 ¾

Portland prices for soft white wheat of Ordinary Protein for Feb ended the day dnch ranging from 6-20 to 6-50 Hard Red Winter wheat with 11 ½ % protein, prices for Feb were dn 5 ranging from 6-31 ½ to 6-46 ½ DNS wheat with 14 % protein, prices for Feb were dn 1 ¾ ranging from 6-68 to 6-78

Live Cattle for Feb were up $.50 at 126.65 Mar Feeder cattle are dn $1.47 ½ to 142.80 Feb Class III milk was dn .01 cents at 13.97

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