Unpredictability in the livestock market over the last 24 hrs

Unpredictability in the livestock market over the last 24 hrs

Matt Rice
Matt Rice
I'm Matt Rice with the Market Line Report for Thursday July 23. There has been some unpredictability in the livestock market over the last 24 hrs. From the floor of the CME Group, Chris Robinson gives us the details.

Robinson: " Cattle both fats and feeders, we fell out of bed there to settle lower as well. Key technical levels number 1, we have a cold storage on hogs. # 2 cattle on feed. We've had a volatile trades, just two days ago in September feeder cattle were $2.15. Today we are flirting with the $2.09 level, we've got support on the charts at $2.09, $2.05 and $2.00."

Chicago September Wheat ended Thursday down 8 even at 5-16 & 1/4. September corn ended the day down 3 & ¾ at 402 & ¾. Portland prices for soft white wheat of ordinary protein for August new crop were unchanged. White Club wheat of 10 1/2 % protein for July, was down 8 even, at mostly 6-51 & ¾. Hard Red Winter wheat with 11 ½ % protein, prices for August New Crop were down 5 &3/4, ranging from 5-67 & 1/4 to 5-92 & ¼. DNS wheat with 14 % protein, prices for August New Crop were down 8 & 1/2, ranging between 6-38 even to 6-63 even. August live cattle closed Wednesday down 9 cents, at 144 & 1/4. August Feeder cattle were down $.67 & ½ cents, at 212.40. August class III milk was up 2 cents, at 16-33

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