Marketline Report for Wednesday, April 3rd
This is Bob Larson with the Market Line Report for Wednesday, Apr 3rd. African Swine Fever is pushing its influence to the hog market. From the floor of the CME in Chicago, here's Terry Roggensack.
ROGGENSACK ... "Can China really buy enough pork to make a big difference in the market? We think, yes. Production estimates out of China are losses from African Swine Fever anywhere from 15 to 40-percent of their production. They're going to take a hit. It's going to eventually come back, but over the next year or so we could end up having to see China import an awful lot of pork on the world market. If China imports 10-percent of their production that they've lost, 10-percent of their normal production they import, and the U.S. gets 25-percent of that business, that's 257-million pounds per month China would be importing from the U.S."
Chicago May Wheat prices closed yesterday up 1 ¼ at 464
May Corn was dn ¼ at 361 ¾
Portland prices for soft white wheat of Ordinary Protein for Apr ended the day unch ranging from 5-90 to 6-00 Hard Red Winter wheat with 11 ½ % protein, prices for Apr were dn 1 ¼ ranging from 6-03 ¼ to 6-33 ¼ DNS wheat with 14 % protein, prices for Apr were dn 11 ¼ ranging from 6-46 ¾ to 6.61 ¾
Live Cattle for Apr were up $.10 at 126.35 Apr Feeder cattle are dn $.60 to 145.07 ½ Apr Class III milk was up .19 cents at 15.84
