Marketline Report for Tuesday, August 27th
This is Bob Larson with the Market Line Report for Tuesday, Aug 27th. Beef values turn higher Monday on the strength of both export and domestic demand. From the floor of the CME in Chicago, here's Virginia McGathey.
McGATHEY ... "Today in the livestock complex, cattle was higher. Beef values did point up, exports and domestic demand. Where at the end of the week, the end of the month, the holiday is right before, we're coming up on that. It should bring a final wrap up and maybe some support in the beef complex across the board. Feeders were also higher. They're tightening supplies, are starting to squeeze the market a little bit. The White House news that shows that the market fatigue as the futures are slow to respond, is kind of keeping the market sideways. Also, the placements were about 2-percent below what they were a year ago, so that also adds a little bit of positive news to the market, really pushing it up."
Chicago Sept Wheat prices closed yesterday dn 2 ¼ at 473
Sept Corn was dn 1 ¼ at 358 ¾
Portland prices for soft white wheat of Ordinary Protein for Aug ended the day unch ranging from 5-55 to 5-75 Hard Red Winter wheat with 11 ½ % protein, prices for Aug were up 2 ½ ranging from 5-14 to 5-19 DNS wheat with 14 % protein, prices for Aug were dn 6 ranging from 5-67 ¾ to 5-72 ¾
Live Cattle for Aug were up $.85 at 105.75 Aug Feeder cattle are up $1.30 to 138.65 Aug Class III milk was up .01 cents at 17.60
