Marketline Report for Friday, May 18th

Marketline Report for Friday, May 18th

Bob Larson
Bob Larson
This is Bob Larson with the Market Line Report for Thursday, May 17th. Cattle traders find a leveling off on Thursday. From the floor of the CME in Chicago, here's Larry Shover.

SHOVER ... "We have June live cattle trapped within a $2 trading range today. Although settling near its highs of 1.25% slightly above the $103.00 mark so a lot of people really relieved to see that happen toward the close. The biggest question is cattle attempting to find a bottom after a lot of the long liquidation we saw this week. On the month, we're seeing the contract down almost 2% and on a year-to-day basis down almost 9.5% ... unbelievable."

Chicago July Wheat prices closed yesterday up 3 ¼ at 497 ½

July Corn was dn 4 at 395

Portland prices for soft white wheat of Ordinary Protein for July ended the day unch ranging from 5-75 to 5-90 ½ Hard Red Winter wheat with 11 ½ % protein, prices for May were up 5 ranging from 6-44 to 6-64 DNS wheat with 14 % protein, prices for May were up 3 ½ ranging from 7-64 ¾ to 7-79 ¾

Live Cattle for June were up $1.22 ½ at 103.00 May Feeder cattle are up $.37 ½ to 132.97 May Class III milk was dn .02 cents at 15.23

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