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Bob Larson Marketline Report for Friday, December 29th
by Bob Larson, click here for bio

Program: Market Line
Date: December 29, 2017

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This is Bob Larson with the Market Line Report for Friday, December 29th. Another up day for cattle traders heading into year end. From the floor of the CME in Chicago, here’s Joe Vaclavik …

Joe Vaclavik ... “The live cattle market was sharply higher here on Thursday. We’ve really shrugged off what was a bearish report from USDA this last Friday. It was a cattle on feed report which told us that the cattle on feed number and also the placements number were much larger than what the trade had expected. So, despite all of that we saw kind of a knee-jerk negative reaction on Friday following the report, but we’ve rallied since and seen the market react pretty favorably here as of late. We haven’t seen much in terms of a cash trade yet this week. If one does occur it is expected that cash cattle will trade anywhere from $3 to $5 higher versus last week. And last week, I believe, most of the trade was done in the $120 neighborhood.”

Chicago March Wheat prices closed yesterday dn ¼ at 426 ¾

March corn was dn 1 ¾ at 351 ½

Portland prices for soft white wheat of Ordinary Protein for December ended the day dn ¼ ranging from 5-25 ¾ to 5-30 Hard Red Winter wheat with 11 ½ % protein, prices for December were up 1 ¼ ranging from 5-76 ¾ to 5-86 ¾ DNS wheat with 14 % protein, prices for December were dn 2 ¼ ranging from 7-39 to 7-54

Live Cattle for December were up $2.52 ½ at 125.10 January Feeder cattle are up $.42 ½ to 145.52 ½ December Class III milk was dn .02 cents at 15.40

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