Marketline Report for Wednesday, November 29th
This is Bob Larson with the Market Line Report for Wednesday, November 29th. The ups and downs continue in the cattle market. From the floor of the CME in Chicago, here's Joe Vaclavik ...
Joe Vaclavik ... "Live cattle market was lower here on Tuesday after a higher trade on Monday so kind of an indecisive back and forth type deal here this week. The market did finish with some strength last week. Cash market? $118 to $120 caught most of the cash trade. I think there was some trade as high as $120 ½ in the west last week so we'll see what develops here this week. We're kind of coming off the holiday week so things may be kind of slow to develop. We will have the fed cattle exchange on Wednesday. We'll see if anything transpires there. Funds? Large money managers continue to hold a pretty significant long position in this live cattle market although they did reduce that position in the previous week."
Chicago Dec Wheat prices closed yesterday up 1 ¼ at 410 ¼
December corn was dn 2 ½ at 335 ¾
Portland prices for soft white wheat of Ordinary Protein for November ended the day up 22 ½ ranging from 5-27 to 5-37 ½ Hard Red Winter wheat with 11 ½ % protein, prices for November were up 7 ranging from 5-69 ¼ to 5-74 ¼ DNS wheat with 14 % protein, prices for November were dn 6 ½ ranging from 7-23 ½ to 7-33 ½
Live Cattle for December were dn $.17 ½ at 119.72 ½ January Feeder cattle are up $.05 to 154.55 November Class III milk was dn .01 cents at 16.81
