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Bob Larson Marketline Report for Friday, February 16th
by Bob Larson, click here for bio

Program: Market Line
Date: February 16, 2018

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This is Bob Larson with the Market Line Report for Friday, February 16th. The upswing continues in the cattle market on Thursday. From the floor of the CME in Chicago, here’s Joe Vaclavik ...

VACLAVIK ... “The live cattle market was higher here on Thursday. February futures traded into their highest levels since early November and have been on a pretty nice run here as of late. We’ve seen a nice uptrend really since mid-January. The cash market really hasn’t seen much development yet. We had no cash cattle traded on the fed cattle exchange yesterday so we’ll wait to see what develops in the country. A lot of people are talking higher numbers. You know, I think the most recent cash trade was $126. We may see something as high as $128 or $129 before this week is over. Funds? Money managers have been consistently long this market, but we have been adding to their net-long position since mid-January and that coincided with a fairly significant low in the market.”

Chicago March Wheat prices closed yesterday up 6 at 461 ¼

March corn was up ½ at 368 ¼

Portland prices for soft white wheat of Ordinary Protein for February ended the day unch ranging from 5-30 to 5-52 Hard Red Winter wheat with 11 ½ % protein, prices for February were up 8 ¼ ranging from 6-23 to 6-48 DNS wheat with 14 % protein, prices for February were up 8 ¼ ranging from 7-23 ½ to 7-38 ½

Live Cattle for February were up $1.62 ½ at 129.37 ½ March Feeder cattle are up $1.65 to 149.90 February Class III milk was dn $.02 cents at 13.46

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