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Bob Larson Marketline Report for Wednesday, March 6th
by Bob Larson, click here for bio

Program: Market Line
Date: March 06, 2019

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This is Bob Larson with the Market Line Report for Wednesday, Mar 6th. Winter weather still a factor in cattle trading on Tuesday. From the floor of the CME in Chicago, here’s Terry Roggensack.

ROGGENSACK … “We’re seeing short-term tightness in the cattle market clashing with the Spring supply outlook which could be burdensome. First factor for the market, the very low weights, the cold and wet winter we’ve seen so far, muddy conditions looking like they can extend out for another 10-days or so. It’s going to keep beef production low. Beef production last week, for example, 2.2 percent below a year ago. Clashing with that is the Spring outlook. First quarter to second quarter production levels look like they’re going to increase significantly and if the weather were to normalize, we’re looking at some very hefty production numbers down the road.”

Chicago March Wheat prices closed yesterday up 7 ½ at 453 ¾

March Corn was up 1 at 366

Portland prices for soft white wheat of Ordinary Protein for Mar ended the day unch ranging from 6-05 to 6-20 Hard Red Winter wheat with 11 ½ % protein, prices for Mar were up 8 ¼ ranging from 6-01 ¼ to 6-31 ¼ DNS wheat with 14 % protein, prices for Mar were up 3 ½ ranging from 6-55 ½ to 6-75 ½

Live Cattle for Apr were up $.47 ½ at 128.82 ½ Mar Feeder cattle are dn $.32 ½ to 140.82 ½ Mar Class III milk was dn .01 cents at 15.12

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