Marketline Report for Thursday, November 2nd
This is Bob Larson with the Market Line Report for Thursday, November 2nd Cattle continue their upward drive on the trading floor. From the floor of the CME in Chicago, here's Virginia McGathey ...
Virginia McGathey ... "Today, cattle surging. Futures were strong ahead of the auction and the market still remained there. You know, some of the sales were up to $120 per hundred weight and that really kept the prices firm even after the auction came. The market has really gone kind of crazy over the last two weeks and it looks like there's no end in sight. Now, the feeder cattle were up and they have been firm and they've been following the live cattle market, just not quite as much. But, the experts were expecting that the markets going to look the same as last week so we continue to rise a little bit higher. Certainly, the feeders have not kept up with the live cattle market, but that's still showing some optimism on the horizon."
Chicago Dec Wheat prices closed yesterday dn ½ at 417 ¾
December corn was up 2 ½ at 348 ¼
Portland prices for soft white wheat of Ordinary Protein for November ended the day dn ½ ranging from 5-13 to 5-35 Hard Red Winter wheat with 11 ½ % protein, prices for November were dn ¾ ranging from 5-55 ¾ to 5-80 ¾ DNS wheat with 14 % protein, prices for November were up 1 ¼ ranging from 7-34 to 7-49
Live Cattle for December were up $.97 ½ at 126.67 ½ November Feeder cattle are up $.27 ½ to 159.80 November Class III milk was up .01 cents at 16.59
