Marketline Report for Thursday, November 9th
This is Bob Larson with the Market Line Report for Thursday, November 9th Cattle trading remains strong in spite of a sell-off Wednesday. From the floor of the CME in Chicago, here's Virginia McGathey ...
Virgina McGathey ... "Cattle was mixed. Meat packers continue to pay up and they keep futures prices very strong. As we moved later into the day, it started to sell of some and the market was really moving a little bit lower. Overall though, it's still pretty strong. Experts are seeing that prices are remaining in this vicinity for the rest of the week even though we may have some market movement it could be a little bit choppy and some gyrations because we've come well off our lows that we experienced about a month ago. So, the market is now in an area where it could still get some big gyrations, but I think that we're still remaining strong as we move into the Thanksgiving holiday."
Chicago Dec Wheat prices closed yesterday dn ½ at 426 ¼
December corn was up ½ at 347 ½
Portland prices for soft white wheat of Ordinary Protein for November ended the day dn ½ ranging from 5-21 ¾ to 5-35 Hard Red Winter wheat with 11 ½ % protein, prices for November were up 1 ranging from 5-82 ½ to 5-97 ½ DNS wheat with 14 % protein, prices for November were up 8 ¾ ranging from 7-63 ½ to 7-73 ½
Live Cattle for December were dn $1.70 at 122.92 ½ November Feeder cattle are dn $2.55 to 157.57 ½ November Class III milk was up .15 cents at 16.62
