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Bob Larson Marketline Report Friday May 19th
by Bob Larson, click here for bio

Program: Market Line
Date: May 19, 2017

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This is Bob Larson with the Market Line Report for Friday May 19th. The Cattle Market on the plus side across the board Thursday. With more from the floor of the CME in Chicago, here’s Joe Vaclavik …

Vaclavik … “Live cattle market was mostly higher after a two-sided trade here Thursday, kind of coming off an extended correction in the futures markets here and we’ve recovered a little bit. So, I’m not sure if the bottom is in necessarily after the sell-off, but the market acting a little bit better and certainly holding its ground. The cash cattle market has been a little bit softer here this week, but still much better than the futures market. We’ve still got a very wide basis. I think the majority of cash cattle trade took place in the mid-to-low 130’s here this week so far and that’s a far cry from the nearby June futures which are down in the 122, 123 range.”

Chicago July Wheat prices closed yesterday dn 1 ¼ at 426 ½ July corn ended the day dn 5 ½ at 365 ¾

Portland prices for soft white wheat of Ordinary Protein for July ended the day dn 1 ¼ ranging from 4-80 ¾ to 4-85 Hard Red Winter wheat with 11 ½ % protein, prices for July were dn .50 ranging from 5-01 to 5-11 DNS wheat with 14 % protein, prices for July were up 3 ¾ ranging from 6-44 ¾ to 6-69 ¾

Live Cattle for June were up $.47 ½ at 122.97 ½ May Feeder cattle were up $.30 at 142.25 May Class III milk was dn 01 cents at 15-61.

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