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Bob Larson Marketline Report for Monday, April 8th
by Bob Larson, click here for bio

Program: Market Line
Date: April 08, 2019

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This is Bob Larson with the Market Line Report for Monday, Apr 8th. Busy day on the cattle market doesn’t pay off in the end. From the floor of the CME in Chicago, here’s Virginia McGathey.

McGATHEY … “Today in the livestock market, we had a lot of action with cattle starting out lower. It spent most of the day there. There was very little cash trade in the south. The cash actually traded lower, just a little bit, that we did see. It pressured a lot of the futures and we were expecting that there was going to be a real recovery imminent here at the end of the week, but it didn’t really happen. Although, the feeders did end up coming back. So, we have the feeders as mixed today. The futures did rebound off that initial fall. This just tells us that there’s some optimism on the horizon and for next week already, everyone is looking for some real demand and grilling season is here and they’re expecting that there’s going to be a lot more happening seasonally and that’s going to give the market another boost.”

Chicago May Wheat prices closed yesterday dn 3 at 467 ¾

May Corn was dn 2 ¾ at 362

Portland prices for soft white wheat of Ordinary Protein for Apr ended the day unch ranging from 5-90 to 6-00 Hard Red Winter wheat with 11 ½ % protein, prices for Apr were dn 8 ¼ ranging from 6-01 ¼ to 6-31 ¼ DNS wheat with 14 % protein, prices for Apr were dn 4 ¾ ranging from 6-27 ½ to 6.42 ½

Live Cattle for Apr were dn $1.50 at 126.20 Apr Feeder cattle are dn $.17 ½ to 146.07 ½ Apr Class III milk was up .05 cents at 15.86

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