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Bob Larson Marketline Report for Monday, March 11th
by Bob Larson, click here for bio

Program: Market Line
Date: March 11, 2019

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This is Bob Larson with the Market Line Report for Monday, Mar 11th. The cattle market stays strong and friendly in Friday trading. From the floor of the CME in Chicago, here’s Virginia McGathey.

McGATHEY … “Live cattle market was firmed up again. That strong trend just keeps driving higher. The market’s really signaled that the on-feed report could be very friendly. The WASDE report out of the way for the grains might have been the shot in the arm of what the cattle market was looking for. The futures really have room to continue to go higher and anybody that tries to step in front of this well-oiled machine has gotten hurt. So, the market’s just not ready to turn yet and I think that a little bit of an indication of that is feeders. They were higher as well. That bullish USDA report is expected with the on-feed coming right after the close today and it seems that feedlot placements may be lower from last year and that’s going to give futures a shot in the arm that they’ve been looking for.”

Chicago March Wheat prices closed yesterday up 1 ¼ at 437

March Corn was dn 1 ¼ at 555 ¾

Portland prices for soft white wheat of Ordinary Protein for Mar ended the day unch ranging from 5.90 to 6-30 Hard Red Winter wheat with 11 ½ % protein, prices for Mar were up 3 ¼ ranging from 5-80 ¾ to 6-20 ¾ DNS wheat with 14 % protein, prices for Mar were dn 3 ¾ ranging from 6-49 ¼ to 6-74 ¼

Live Cattle for Apr were up $.72 ½ at 129.80 Mar Feeder cattle are up $1.02 ½ to 143.87 ½ Mar Class III milk was dn .11 cents at 14.98

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