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Bob Larson Marketline Report for Wednesday, January 3rd
by Bob Larson, click here for bio

Program: Market Line
Date: January 03, 2018

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This is Bob Larson with the Market Line Report for Wednesday, January 3rd. 2018 starts off on a good note for cattle traders. From the floor of the CME in Chicago, here’s Joe Vaclavik …

Joe Vaclavik ... “The live cattle market was sharply higher here on Tuesday following the long weekend, so a nice start to the new calendar year. We traded some cash cattle on Friday at $123 in most areas which was, I suppose, seen as being positive. So, we had a nice positive reaction here to start off the new week. The boxed beef market also rebounded a little bit. We’ve got choice boxes back well above that $200 mark after bottoming, I think, in the upper $190s a couple of weeks ago. So, the demands been good and we’re hoping that we can keep those choice boxes above $200 and maybe even take a shot at that $210 area. I believe the choice boxes did get up into the $215-$216 area several weeks ago.”

Chicago March Wheat prices closed yesterday up 6 ½ at 434 ¼

March corn was up 2 ½ at 353 ¼

Portland prices for soft white wheat of Ordinary Protein for January ended the day unch ranging from 5-25 to 5-30 Hard Red Winter wheat with 11 ½ % protein, prices for January were up 7 ½ ranging from 5-79 ¾ to 5-89 ¾ DNS wheat with 14 % protein, prices for January were up 3 ¼ ranging from 7-33 to 7-53

Live Cattle for February were up $1.80 at 123.40 January Feeder cattle are up $3.52 ½ to 149.75 January Class III milk was dn .05 cents at 14.03

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