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Bob Larson Marketline Report for Tuesday, January 8th
by Bob Larson, click here for bio

Program: Market Line
Date: January 08, 2019

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This is Bob Larson with the Market Line Report for Tuesday, Jan 8th. Cattle bounces back from last week’s downturn. From the floor of the CME in Chicago, here’s Virginia McGathey.

McGATHEY … “Today in the live cattle market, it really rebounded from Friday’s oversold action that kind of turned the market higher. The weekly slaughter should drop through January. That should give the market a little bit of a boost, but without some of the federal data, it’s really hard to tell what’s happening in the market and makes it difficult for us to kind of gauge which way we’re going. That’s why we’re seeing a little bit more of the wild movements. But certainly, the recovery today kind of puts us back on track for the momentum to the upside that we’ve been seeing as of late and we expect the market to continue to rise without something else stepping into the market.”

Chicago March Wheat prices closed yesterday dn ¼ at 516 ½

March Corn was dn ¾ at 383

Portland prices for soft white wheat of Ordinary Protein for Jan ended the day unch ranging from 6-15 to 6-35 Hard Red Winter wheat with 11 ½ % protein, prices for Jan were dn 3 ranging from 6-53 to 6-63 DNS wheat with 14 % protein, prices for Jan were dn 2 ¼ ranging from 6-63 to 6-73

Live Cattle for Feb were up $1.27 ½ at 123.37 ½ Jan Feeder cattle are up $1.10 to 145.92 ½ Jan Class III milk was dn .11 cents at 14.14

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