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Bob Larson Marketline Report for Wednesday, October 18th
by Bob Larson, click here for bio

Program: Market Line
Date: October 18, 2017

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This is Bob Larson with the Market Line Report for Wednesday, October 18th. Tuesday trading is slow on the livestock market. With more from the floor of the CME in Chicago, here’s Joe Vaclavik ...

Joe Vaclavik ... “The live cattle market traded both sides of unchanged here on Tuesday in a pretty slow, choppy trading session. We’ve been confined to a pretty tight range during the last three or four days just kind of sitting around this $112 mark in these October futures which are going off the boards here pretty soon. Funds have continued to add to an already pretty large long position in this live cattle market and that’s despite a market that offers some carry. You know, you’ve got higher priced deferred contracts and a market that hasn’t necessarily acted really well here in the span of the last couple months, but the large money managers are interested in this market and continue to hold a lot of length and have added to it, I think, for five consecutive weeks now.”

Chicago Dec Wheat prices closed yesterday dn 1 ¾ at 434 ¾

December corn was dn ½ at 350 ½

Portland prices for soft white wheat of Ordinary Protein for October ended the day dn 1 ¾ ranging from 5-09 ¾ to 5-35 Hard Red Winter wheat with 11 ½ % protein, prices for October were dn ½ ranging from 5-33 ¼ to 5-98 ¼ DNS wheat with 14 % protein, prices for October were up 1 ½ ranging from 7-21 to 7-41

Live Cattle for Oct were dn $.55 at 111.30 October Feeder cattle are dn $1.85 to 152.20 October Class III milk was up .05 cents at 16.81

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