Marketline Report for Tuesday, July 31st

Marketline Report for Tuesday, July 31st

Bob Larson
Bob Larson
This is Bob Larson with the Market Line Report for Tuesday, July 31st. Cattle were down in Monday trading. From the floor of the CME in Chicago, here's Larry Shover.

SHOVER ... "You've got live cattle, down 15 to 80 cents across the board on a Monday. October, right now, in five days, down 66 basis points. Year-to-date, only down 148 basis points. Hard to believe when you look back to May 17th. People were just throwing in the towel when we saw the October contract trading as low as $101 ½ . Other news that margins continue to be good, not great. Feed lot margins, on the other hand, are starting to narrow as we speak."

Chicago Sept Wheat prices closed yesterday up 16 at 545

Sept Corn was up 5 ¼ at 367

Portland prices for soft white wheat of Ordinary Protein for July ended the day unch ranging from 5-80 to 6-03 Hard Red Winter wheat with 11 ½ % protein, prices for July were up 15 ¼ ranging from 6-57 ¾ to 6-72 ¾ DNS wheat with 14 % protein, prices for July were up 8 ½ ranging from 6-96 to 7-01

Live Cattle for Aug were dn $.20 at 108.20 Aug Feeder cattle are dn $.80 to 151.52 ½ July Class III milk was dn .02 cents at 14.12

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