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Bob Larson Marketline Report for Friday, May 24th
by Bob Larson, click here for bio

Program: Market Line
Date: May 24, 2019

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This is Bob Larson with the Market Line Report for Friday, May 24th. The Cattle market continues to try and digest China's trade situation on Thursday. From the floor of the CME in Chicago, here's Scott Shellady.

SHELLADY ... "What a day today was. We saw volatility across the board and the ag markets, the livestock and grains markets, were not spared. Every day this goes on and every day we've got a problem with China or some sort of trade war, quote-unquote, with China, we run the risk of losing that customer coming back to us, right, because China's going elsewhere for whatever they need. And, every day that they're shopping elsewhere gives that new purveyor of goods a chance to lock them down as a long-term customer. And, I think that's what the equity markets told us here today. So, keep that in mind. Is the customer going to come back, and that customer being China? That's something the equity markets finally woke up to, so each day that this goes on, makes it more difficult for us to get 100% of it back. We'll get a lot of it back, but we're not going to get 100% of it back."

Chicago July Wheat prices closed yesterday dn 2 ½ at 469 ¼

July Corn was dn 4 ¾ at 390 ¼

Portland prices for soft white wheat of Ordinary Protein for May ended the day up 5 ranging from 5-75 to 6-05 Hard Red Winter wheat with 11 ½ % protein, prices for May were dn 7 ranging from 5-95 ¼ to 6-05 ¼ DNS wheat with 14 % protein, prices for May were dn 14 ½ ranging from 6-19 ¼ to 6-34 ¼

Live Cattle for Jun were up $.15 at 110.75 ½ May Feeder cattle are up $.15 to 135.57 ½ May Class III milk was up .05 cents at 16.38

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