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Bob Larson Marketline Report for Tuesday, October 16th
by Bob Larson, click here for bio

Program: Market Line
Date: October 16, 2018

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This is Bob Larson with the Market Line Report for Tuesday, Oct 16th. Cattle numbers find solid footing in Monday trading. From the floor of the CME in Chicago, here’s Virginia McGathey.

McGATHEY … “Cattle firmed up. Those beef exports are also up, however the deferred months were steady so they didn’t really rally along. As we got later into the day the market started to uptick a little bit and it’s trying to push through and push higher and even taking the feeders along with it, and believe me they need it. But, again we wait until the end of the week to find any kind of cash cattle trade to give us some direction and perhaps some price stability, so we’re still waiting on that. The feeders fell even more today which was kind of a big surprise, but these rising corn prices are definitely going to be effecting the market and we know the feed prices will be going up and it’s hurting that long-term outlook for the industry so it has feeders really looking further ahead.”

Chicago Dec Wheat prices closed yesterday up 7 ¾ at 524 ¾

Dec Corn was up 4 ½ at 377 ¼

Portland prices for soft white wheat of Ordinary Protein for Oct ended the day unch ranging from 6-00 to 6-20 Hard Red Winter wheat with 11 ½ % protein, prices for Oct were up 7 ½ ranging from 6-41 ¾ to 6-61 ¾ DNS wheat with 14 % protein, prices for Oct were up 4 ½ ranging from 6-85 ½ to 6-95 ½

Live Cattle for Oct were up $1.05 at 113.57 ½ Oct Feeder cattle are up $.40 to 155.07 ½ Oct Class III milk was dn .01 cents at 15.60

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