Marketline Report for Friday, December 14th

Marketline Report for Friday, December 14th

Bob Larson
Bob Larson
This is Bob Larson with the Market Line Report for Friday, Dec 14th. Cattle prices higher as rally continues Thursday. From the floor of the CME in Chicago, here's Terry Roggensack.

ROGGENSACK ... "An update on cattle market today, the rally this week might have gone too far just too fast. We need a decent rally in the cash market now to help rationalize the big premium of February cattle to the cash market. We're also in a period of seasonally weak beef demand and that could be a limiting factor for any further upside short-term. Boxed beef cutout values down $2.21 yesterday to $212.25. That's the lowest beef market since October 24th."

Chicago Dec Wheat prices closed yesterday up 12 ½ at 526 ¼

Dec Corn was dn ¾ at 375

Portland prices for soft white wheat of Ordinary Protein for Dec ended the day unch ranging from 6-15 to 6-30 Hard Red Winter wheat with 11 ½ % protein, prices for Dec were up 8 ¾ ranging from 6-80 to 6-90 DNS wheat with 14 % protein, prices for Dec were up 5 ¼ ranging from 6-98 ¼ to 7-05 ¼

Live Cattle for Dec were up $.32 ½ at 119.50 Jan Feeder cattle are up $.40 to 148.00 Dec Class III milk was up .06 cents at 13.78

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