Marketline Report for Wednesday, November 1st
This is Bob Larson with the Market Line Report for Wednesday, November 1st The cattle market gets plenty of action on Tuesday. From the floor of the CME in Chicago, here's Joe Vaclavik ...
Joe Vaclavik ... "Cash cattle was very strong last week, much better than most people had anticipated. We saw a late Friday afternoon cash trade in the $118 to $119 range and that was a big improvement on the week and much, much better than just about anybody had thought. On the export front, packer boxed beef commitments were some of the best we've seen in four years, I believe, in the week ending the 27th. So, we've got some better export demand here. Now, the people who were bears in this market will tell you that we're oversupplied and we've got big numbers coming, but the demand has been strong and we have seen those boxed beef prices improve a little bit here recently."
Chicago Dec Wheat prices closed yesterday dn 6 ¼ at 419 ½
December corn was dn 3 at 345 ½
Portland prices for soft white wheat of Ordinary Protein for November ended the day dn 6 ¼ ranging from 5-13 ½ to 5-35 Hard Red Winter wheat with 11 ½ % protein, prices for November were dn 5 ¼ ranging from 5-56 ½ to 5-81 ½ DNS wheat with 14 % protein, prices for November were dn ¾ ranging from 7-32 ¾ to 7-47 ¾
Live Cattle for Oct were up $.92 ½ at 120.50 November Feeder cattle are up $1.10 to 159.45 November Class III milk was up .06 cents at 16.60
