Marketline Report for Thursday, August 2nd

Marketline Report for Thursday, August 2nd

Bob Larson
Bob Larson
This is Bob Larson with the Market Line Report for Thursday, Aug 2nd. The Cattle market was up in Wednesday trading. From the floor of the CME in Chicago, here's Virginia McGathey.

McGathey ... "Cattle was higher. It seems like it's consolidating in a $2 range, maybe $108.50 and $111.00, which has really been actually pretty good. Maybe, that's a little more than $20 range, but it's actually relatively strong in spite of everything that's going on. Now, seasonal strength is really holding futures up, but in the lower part of that narrow range. Now, any uptick in cash trade, that's expected later in this week, maybe later on today or tomorrow or Friday. I think that that could give the market a little bit of a boost here. Now, that even being said, there has been a super surge of the grain market and so that might put a little bit of a lid on some of the cattle, so we're watching that closely."

Chicago Sept Wheat prices closed yesterday up 4 ½ at 559 ¼

Sept Corn was dn 7 ¼ at 365 ¾

Portland prices for soft white wheat of Ordinary Protein for Aug ended the day unch ranging from 5-80 to 6-08 Hard Red Winter wheat with 11 ½ % protein, prices for Aug were up 7 ¼ ranging from 6-73 ¾ to 6-88 ¾ DNS wheat with 14 % protein, prices for Aug were up 1 ¾ ranging from 6-93 to 7-08

Live Cattle for Aug were up0 $.95 at 109.12 ½ Aug Feeder cattle are up $2.50 to 152.22 ½ Aug Class III milk was up .10 cents at 14.82

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