Marketline Report for Tuesday, June 5th
This is Bob Larson with the Market Line Report for Tuesday, June 5th. The cattle market takes a hit ono Monday. From the floor of the CME in Chicago, here's Virginia McGathey.
McGATHEY ... "Today, cattle was lower. It seems that futures are really caught between the technical numbers and we just can't seem to break out of that channel even though it got a little bit wider over the last couple of weeks the market is still worried about oil prices, worried about the saber rattling in the White House and that has everyone kind of on their heels and has moved a lot of the traders and even the speculators to the sideline where they're not exactly sure."
Chicago July Wheat prices closed yesterday dn 18 at 507 ¼
July Corn was dn 10 ¾ at 380 ½
Portland prices for soft white wheat of Ordinary Protein for June ended the day unch ranging from 5-80 to 5-95 Hard Red Winter wheat with 11 ½ % protein, prices for June were dn 19 ¼ ranging from 6-46 ½ to 6-71 ½ DNS wheat with 14 % protein, prices for June were dn 20 ¾ ranging from 7-28 ¼ to 7-43 ¼
Live Cattle for June were dn $.17 ½ at 105.00 Aug Feeder cattle are dn $1.47 ½ to 145.22 ½ June Class III milk was dn $.13 cents at 15.36
