Marketline Report for Tuesday, June 18th
This is Bob Larson with the Market Line Report for Tuesday, June 18th. Cattle traders get a rather surprising bump higher in market prices Monday. From the floor of the CME in Chicago, here's Virginia McGathey.
McGATHEY ... "Cattle firmed up. Domestic demand is improving. Kind of a little bit of a surprise especially with the ways that the grains operating, but the talk that weather is improving is helping, but it seems kind of difficult to take a look at because here in Chicago it has been raining four out of five days for the past number of months. But, there is hope that the Fourth of July will spike the prices maybe a little bit and give it a little bit more demand and at some point a full-blown summer should be arriving. Feeders were steady today. They actually firmed up as they got later into the trading session, but cautious traders are watching out very closely these corn prices as they continue to rise, we know that feed prices will be rising as well."
Chicago July Wheat prices closed yesterday up 1 at 539
July Corn was up 1 ¾ at 454 ½
Portland prices for soft white wheat of Ordinary Protein for Jun ended the day unch ranging from 5-75 to 6-30 Hard Red Winter wheat with 11 ½ % protein, prices for Jun were up 4 ¼ ranging from 6-30 ½ to 6-50 ½ DNS wheat with 14 % protein, prices for Jun were dn 8 ranging from 6-35 ¼ to 6-50 ¼
Live Cattle for Jun were up $.67 ½ at 109.47 ½ Aug Feeder cattle are up $1.40 to 136.70 Jun Class III milk was dn .03 cents at 16.28
