Marketline Report for Monday, October 23rd

Marketline Report for Monday, October 23rd

Bob Larson
Bob Larson
This is Bob Larson with the Market Line Report for Monday, October 23rd Cattle trading slows while waiting on a big USDA report. From the floor of the CME in Chicago, here's Virginia McGathey ...

Virginia McGathey ... "Cattle was steady. The futures were waiting for a signal from the Cattle On Feed Report later on today. They're really unsure about where the market is going to be. We've been stuck, kind of, in a channel, but we're at the $116 mark which is really a solid number and it seems that the mar-ket wants to trade on both sides in this area. So, it's holding in a decent pricing model for right now. So, we'll see after the On Feed Report comes in. Feeders were a little bit mixed. Now, they were sideways to a little weaker. It seems that the optimism is waning a little bit ahead of this USDA report so we've got to watch that. But, all in all, we're still like higher for the week. We still were able to hang on to some of the gains."

Chicago Dec Wheat prices closed yesterday dn 6 ¾ at 426

December corn was dn 4 ½ at 344 ¼

Portland prices for soft white wheat of Ordinary Protein for October ended the day dn 6 ¾ ranging from 5-21 to 5-37 Hard Red Winter wheat with 11 ½ % protein, prices for October were dn 6 ½ ranging from 5-82 ¾ to 5-87 ¾ DNS wheat with 14 % protein, prices for October were dn 4 ½ ranging from 7-41 ¼ to 7-46 ¼

Live Cattle for Oct were up $.47 ½ at 111.60 October Feeder cattle are up $.47 ½ to 153.50 October Class III milk was dn .01 cents at 16.60

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