Marketline Report for Friday, January 26th
This is Bob Larson with the Market Line Report for Friday, January 26th. A bit of a correction on the cattle market Thursday. From the floor of the CME in Chicago, here's Joe Vaclavik ...
VACLAVIK ... "The live cattle market started the day unchanged to higher, but finished the day sharply lower here on Thursday. We had a near-limit down-trade in some of the live cattle contracts. The feeder cattle market was also very, very soft. So, after what had been an extended bounce here during the last couple of weeks it turned into a little bit of a reversal here today on Thursday. The cash cattle market has been kind of quiet. We haven't seen a whole lot develop. I believe we didn't see anything change hands on the fed cattle exchange on Wednesday so we'll see what develops in the country late afternoon Thursday and into Friday. We do have a cattle on-feed report from CFTC this Friday afternoon."
Chicago March Wheat prices closed yesterday up 1 ½ at 434 ¼
March corn was dn 1 ¼ at 355 ½
Portland prices for soft white wheat of Ordinary Protein for January ended the day up 1 ranging from 5-30 to 5-32 Hard Red Winter wheat with 11 ½ % protein, prices for January were up 2 ranging from 5-85 to 6-00 DNS wheat with 14 % protein, prices for January were up 2 ¼ ranging from 7-25 ¼ to 7-45 ¼
Live Cattle for February were dn $2.95 at 122.62 ½ January Feeder cattle are dn $.30 to 147.85 January Class III milk was up $.03 cents at 13.92
