Marketline Report for Thursday, September 26th
This is Bob Larson with the Market Line Report for Thursday, Sep 26th. A trade deal with Japan gives the livestock market a little boost Wednesday. From the floor of the CME in Chicago, heres Chirs Robinson.
ROBINSON We really have had a pretty good week-and-a-half in the whole protein complex. Todays good news though, with the start of the Japanese trade deal, theyre lowering tariffs on our pork and beef and, really, the market that moved sharpest on that news, lean hogs. And, on the flip-side, the cattle market. After a severe selloff post the Smithfield fire, weve had a good recovery. Weve had about a $10 rally in live cattle, or fat cattle, about a $14 or $15 rally in feeder cattle, a really good recovery in feeder cattle. And, I think the number one thing that would keep this going is if we get a USMCA deal.
Chicago Dec Wheat prices closed yesterday dn 4 at 477
Dec Corn was dn at 374
Portland prices for soft white wheat of Ordinary Protein for Sept ended the day unch ranging from 5-88 to 5-92 Hard Red Winter wheat with 11 % protein, prices for Sept were dn 1 ranging from 5-54 to 5-64 DNS wheat with 14 % protein, prices for Sept were up 9 ranging from 6-44 to 6-49
Live Cattle for Oct were up $.87 at 103.20 Sept Feeder cattle are up $.32 to 141.65 Sept Class III milk was up .01 cents at 18.27
