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Bob Larson Marketline Report for Tuesday, August 14th
by Bob Larson, click here for bio

Program: Market Line
Date: August 14, 2018

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This is Bob Larson with the Market Line Report for Tuesday, Aug 14th. Cash trade hits Cattle futures hard on Monday. From the floor of the CME in Chicago, here's Virginia McGathey.

McGathey ... "Today, the cattle was falling. It seems that the quiet cash trade is really weighing on futures a little bit, that the bids may not come until maybe Wednesday or Thursday so not much happening right now. The hot weather really hasn’t been a factor yet and traders are expecting that change can happen quickly so we’re watching that closely. The market is just off somewhat, but overall it’s really been pretty good. One of the reasons is that they expect that with the falling corn prices that that’s stabilizing the feed prices for them and so there isn’t going to be too much activity on there they can be confident that for at least the foreseeable future that these feed prices will be stable and can be profitable for them.”

Chicago Sept Wheat prices closed yesterday dn 13 ¼ at 536 ½

Sept Corn was dn 1 ¼ at 357

Portland prices for soft white wheat of Ordinary Protein for Aug ended the day dn 2 ranging from 6-10 to 6-15 Hard Red Winter wheat with 11 ½ % protein, prices for Sept were dn 29 ranging from 6-40 ¾ to 6-50 ¾ DNS wheat with 14 % protein, prices for Sept were dn 16 ranging from 6-77 ¾ to 6-92 ¾

Live Cattle for Aug were dn $1.05 at 107.07 ½ Aug Feeder cattle are dn $1.25 to 148.62 ½ Aug Class III milk was unch cents at 15.04

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