Marketline Report for Wednesday, August 1st

Marketline Report for Wednesday, August 1st

Bob Larson
Bob Larson
This is Bob Larson with the Market Line Report for Wednesday, July 1st. The Cattle market not following annual trends. From the floor of the CME in Chicago, here's Terry Roggensack.

Roggensack ... "In the cattle market, we want to talk a little bit about the seasonality of the cash market. Normally, we advance into the Autumn. We might not see that advance in the cash market this year and that can cause a contra-seasonal break in the cattle futures and those can be very vicious at times. First factor for the cattle market in the fourth quarter, beef production expected to be up 4.3 % from a year ago. The cattle that have been on feed lots for more than 90 days up about 11% from a year ago and that can be a burdensome short term supply."

Chicago Sept Wheat prices closed yesterday up 7 ¼ at 554 ½

Sept Corn was up 5 at 372 ¼

Portland prices for soft white wheat of Ordinary Protein for July ended the day unch ranging from 5-80 to 6-03 Hard Red Winter wheat with 11 ½ % protein, prices for July were up 8 ¾ ranging from 6-66 ½ to 6-81 ½ DNS wheat with 14 % protein, prices for July were up 5 ¼ ranging from 7-01 ¼ to 7-06 ¼

Live Cattle for Aug were dn $.75 at 107.87 ½ Aug Feeder cattle are dn $2.17 ½ to 149.10 July Class III milk was unch cents at 14.12

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