03/25/05 Trading holiday; Taiwan make take beef

03/25/05 Trading holiday; Taiwan make take beef

Marketline March 25, 2005 Futures exchanges and USDA market news are closed today, Good Friday. Wheat futures closed higher Thursday in thin trading as traders prepared for the long weekend and some key reports from USDA next week. At the Chicago Board of Trade Virginia McGanty said the weekly export sales report for wheat was disappointing. McGanty: "Wheat was a little bit lower than expected on its exports with 323 thousand tons. I am not sure if we are going to get a little bit of a pull back after such a strong rally over the last couple of weeks." On Thursday Chicago May wheat was up 1 3/4 cents at 3-38 ½. May corn down a quarter cent at 2-10 ½. Portland cash white wheat was steady at mostly 3-92. New crop August white wheat 3-95. Club wheat 3-95. PNW HRW 11.5 percent protein higher at 4-23. Dark northern spring 14% protein higher at 4-96. Export barley 101 dollars a ton. At auction this week 400-500 pound steers were 135 to 146 at Madras, Oregon, 120 to 135 at Idaho Falls. Seven to eight weight steers were 100 to 107-50 at Madras, 97 to 107 at Idaho Falls. Plains fed cattle saw an active trade yesterday at mostly 90 dollars, steady with last week. Boxed beef was down. The steady cash market and news that Taiwan may reopen to U.S. boneless beef under 30 months of age next month were good for cattle futures. April live cattle up 95 cents at 88-35. April feeders up 80 at 104-92. April Class III milk up a nickel at 14-55. I'm Bob Hoff and that's Marketline on the Northwest Ag Information Network.
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