Marketline Report for Tuesday, January 9th

Marketline Report for Tuesday, January 9th

Bob Larson
Bob Larson
This is Bob Larson with the Market Line Report for Tuesday, January 9th. Cattle take a bit of a hit in trading Monday. From the floor of the CME in Chicago, here's Virginia McGathey ...

Virginia McGathey ... "Cattle was down even more today. The drop in physical cash prices really caught the traders by surprise and more selling came today after its limit-down on Friday. Now, the futures really extended their losses to lows that we haven't seen since mid-December. There was some concern that we're going to really tumble further. I don't see a limit-down again today, but it is down sharply. Feeders were steady today. They really ended up maybe a little bit lower. After a lower start the market really came back and found some support. So, that was giving rise to possibly that this is going to slow down some of this big sell-off, but then as the day went on it did get a little bit weaker."

Chicago March Wheat prices closed yesterday dn 3 at 427

March corn was dn 4 at 347 ½

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 dn 4 ¼ ranging from 5-78 ¼ to 5-93 ¼ DNS wheat with 14 % protein, prices for January were dn 1 ¼ ranging from 7-40 ½ to 7-60 ½

Live Cattle for February were dn $2.02 ½ at 117.55 January Feeder cattle are dn $.17 ½ to 146.50 January Class III milk was dn .09 cents at 13.85

Previous ReportMarketline Report for Monday, January 8th
Next ReportMarket Line