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Bob Larson Marketline Report for Tuesday, January 9th
by Bob Larson, click here for bio

Program: Market Line
Date: January 09, 2018

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This is Bob Larson with the Market Line Report for Tuesday, January 9th. Cattle take a bit of a hit in trading Monday. From the floor of the CME in Chicago, here’s Virginia McGathey …

Virginia McGathey ... “Cattle was down even more today. The drop in physical cash prices really caught the traders by surprise and more selling came today after its limit-down on Friday. Now, the futures really extended their losses to lows that we haven’t seen since mid-December. There was some concern that we’re going to really tumble further. I don’t see a limit-down again today, but it is down sharply. Feeders were steady today. They really ended up maybe a little bit lower. After a lower start the market really came back and found some support. So, that was giving rise to possibly that this is going to slow down some of this big sell-off, but then as the day went on it did get a little bit weaker.”

Chicago March Wheat prices closed yesterday dn 3 at 427

March corn was dn 4 at 347 ½

Portland prices for soft white wheat of Ordinary Protein for January ended the day unch ranging from 5-25 to 5-30 Hard Red Winter wheat with 11 ½ % protein, prices for January were dn 4 ¼ ranging from 5-78 ¼ to 5-93 ¼ DNS wheat with 14 % protein, prices for January were dn 1 ¼ ranging from 7-40 ½ to 7-60 ½

Live Cattle for February were dn $2.02 ½ at 117.55 January Feeder cattle are dn $.17 ½ to 146.50 January Class III milk was dn .09 cents at 13.85

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