Market Line

Market Line

Tommy Allen
Tommy Allen
This is Tom Allen with the Market Line Report for Jan. 12th. Cattle took it on the cheek today after yesterday new high for the last several months. Here's Virginia McGathey from the floor of the CME in Chicago with more on the Livestock Market. McGathey "Cattle, big drop in the market, big surge in the cash market. Put a big surge on the meat packers margin. Pushed into the negative number and that sent the market tumbling. Yester we reached a new high in the market and we thought that there would be rebalancing numbers coming in but that did not appear today."

Chicago markets, July wheat prices closed the day up 6 ¼, at 452 ¾. Chicago July Corn prices were up ¾, to close the day at 371 ¾. Prices in Portland for Soft White Winter Wheat of ordinary protein for May were unch – up 2, ranging from 4-50 to 4-59 ¼. Hard Red Winter Wheat with 11.5 % protein, future prices for April were up 13 ¼, ranging from 5-41 ¾ to 5-46 ¾. DNS Wheat with 14 % protein, prices for April were up 9 ¾, ranging from 6-70 ¾ to 6-85 ¾. June Live Cattle closed the day dn 95 cents at 106.52 ½. April Feeder cattle were dn $1.77 ½, at 127.20. March class III milk was up 12 cents at 17-60.

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