Monday Relatively Quiet Day in the Market

Monday Relatively Quiet Day in the Market

I’m KayDee Gilkey with the Market Line Report for September 16, 2014.
Early market concerns came from mid-west frost reports. From the floor of the CME Group, Alexandra Lively shares her observations of Monday’s markets.
Lively: “As the open outcry began in Chicago today, livestock saw slight gains before both fats and feeders were pressured to new session lows. As I reported earlier, traders in the cattle complex expected follow-through selling in fat cattle after the lower than expected cash cattle trade last week and weaker wholesale beef values. Traders say that the key reversal seen last week were negative technical developments on the charts but out of the demand cash and beef values will determine market direction this week. December wheat lost almost 33 cents and December corn lost 17 and half cents just last week.”
Chicago December Wheat ended Monday down 1 and 3/4 cents at 5-00 and 3/4. December corn ended the day up 4 and 1/2 cents at 3-43.?Portland prices for soft white wheat were mixed down a dime to up 13 and 1/4 cents at mostly 6-74 and 1/4. White club wheat prices were mixed down 1 and 3/4 to up 18 and 1/4 cents at mostly 9-05 and 1/4. Hard Red Winter wheat with 11.5 percent protein prices were down 7 cents at mostly 7-06 and 1/4. DNS wheat with 14 percent protein prices were down 9 and 1/2 cents at mostly 8-41 and 1/2.
October live cattle were up 7 and half cents on Monday at 156-35. October Feeder cattle were down 7 and half cents at 225-85. October class III milk was up 52 cents at 23-87.

 

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