Marketline Report for Monday, July 30th
This is Bob Larson with the Market Line Report for Monday, July 30th. Higher bids in cash cattle Friday. From the floor of the CME in Chicago, here's Virginia McGathey.
McGATHEY ... "Cattle was mixed today. It seems that there has been a little bit higher cash market and I think that we really got a little bit of a pop there. Yesterday's dramatic sell-off resulted in a sharp drop in the beef export sales, 65% from last week and, you know, some of the short-covering helped to shore it up a little bit. The market did not finish on its complete low yesterday so that gives us a little bit of relief that the market isn't going to completely plunge because we've actually been holding a very, at the higher end of the scale, with all things considered with all the tariff talks in it."
Chicago Sept Wheat prices closed yesterday dn 6 ¼ at 530 ¼
Sept Corn was up ½ at 361 ½
Portland prices for soft white wheat of Ordinary Protein for July ended the day unch ranging from 5-80 to 5-95 Hard Red Winter wheat with 11 ½ % protein, prices for July were dn 1 ½ ranging from 6-42 ½ to 6-57 ½ DNS wheat with 14 % protein, prices for July were up 4 ¾ ranging from 6-87 ½ to 6-92 ½
Live Cattle for Aug were up $1.07 ½ at 109.02 ½ Aug Feeder cattle are up $1.07 ½ to 152.50 July Class III milk was dn .01 cents at 14.13
