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Bob Larson Marketline Report for Monday, February 25th
by Bob Larson, click here for bio

Program: Market Line
Date: February 25, 2019

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This is Bob Larson with the Market Line Report for Monday, Feb 25th. Awaiting news on China trade and delayed USDA reports steady’s the cattle market Friday. From the floor of the CME in Chicago, here’s Virginia McGathey.

McGATHEY … “The live cattle firmed up. The packers are still short-bought right now and it seems like next week the cattle inventory report is going to be coming up and demand is good and so the market continues to stay in that up-trend channel and there’s nothing really pushing it back. Now, the feeders, they did slip a little bit. The feed lot conditions have been mixed so it’s been back and forth actually. We’ve had two-sided trading. This afternoon, there’s going to be the on-feed and the cold storage reports, but they both look like they could be positive. Interestingly enough, these are old numbers from back in January, but we need to get those numbers so that we have something to build on going forward. A lot of reports coming in. If this trade deal goes through I think it’s going to start to effect all the commodity across the board.”

Chicago March Wheat prices closed yesterday up ¼ at 485

March Corn was dn ¼ at 375 ½

Portland prices for soft white wheat of Ordinary Protein for Feb ended the day unch ranging from 6-20 to 6-35 Hard Red Winter wheat with 11 ½ % protein, prices for Feb were up 2 ¾ ranging from 6-16 to 6-46 DNS wheat with 14 % protein, prices for Feb were up 6 ¾ ranging from 6-64 ½ to 6-84 ½

Live Cattle for Feb were up $1.05 at 128.55 Mar Feeder cattle are dn $.32 ½ to 142.97 ½ Feb Class III milk was dn .05 cents at 13.95

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