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Bob Larson Marketline Report for Friday, August 10th
by Bob Larson, click here for bio

Program: Market Line
Date: August 10, 2018

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This is Bob Larson with the Market Line Report for Friday, Aug 10th. The beef supply brings prices down on Thursday. From the floor of the CME in Chicago, here's Terry Roggensack.

ROGGENSACK ... "First factor for cattle, very strong U.S. dollar and the fact that Australia, one of the worst droughts since the early 80’s. That could spark a big jump in imports of beef into the U.S. Second factor, beef prices right now are very similar to beef prices that we saw at this time of the year in 2017 and in 2016. The trend was down in both of the last two years and don’t see any reason we shouldn’t expect beef prices to continue on down over the near term especially with the hot and muggy weather and the seasonality for the market to break.”

Chicago Sept Wheat prices closed yesterday dn 5 ½ at 563 ¾

Sept Corn was dn 2 at 368 ¾

Portland prices for soft white wheat of Ordinary Protein for Aug ended the day up 6 ranging from 6-12 to 6-28 Hard Red Winter wheat with 11 ½ % protein, prices for Aug were dn 5 ¾ ranging from 6-83 ½ to 6-88 ½ DNS wheat with 14 % protein, prices for Aug were dn 3 ranging from 7-19 ¾ to 7-29 ¾

Live Cattle for Aug were dn $1.57 ½ at 108.30 Aug Feeder cattle are dn $1.30 to 149.32 ½ Aug Class III milk was up .11 cents at 14.97

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