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

Program: Market Line
Date: November 16, 2018

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This is Bob Larson with the Market Line Report for Friday, Nov 16th. Rumors swirling about Japan send Live Cattle higher Thursday. From the floor of the CME in Chicago, here’s Scott Shellady.

SHELLADY … “Well, lots to talk about in the Live Cattle space today. If you remember, in 2003, we had a little bit of a mad cow run through our herds, I’ve been called a mad cow once or twice before in my life, but Japan, which is our number one exporter, they stopped taking our cattle. In 2005 they kind of eased their restriction to stuff that was no more than 20-months old and then 30-months old, it kind of got more relaxed, well there’s a rumor going around that they’re going to be having a meeting to maybe lift the restrictions totally and that sent live cattle higher on the day obviously. So, that’s something to keep in mind if that goes through. Obviously that’s bullish live cattle.”

Chicago Dec Wheat prices closed yesterday up 2 ½ at 505 ½

Dec Corn was up ½ at 367 ¼

Portland prices for soft white wheat of Ordinary Protein for Nov ended the day up 5 ranging from 6-20 to 6-35 Hard Red Winter wheat with 11 ½ % protein, prices for Nov were dn 1 ranging from 6-20 to 6-45 DNS wheat with 14 % protein, prices for Nov were dn 1 ¼ ranging from 6-74 ¾ to 6-84 ¾

Live Cattle for Dec were up $.55 at 115.02 ½ Nov Feeder cattle are dn $.35 to 148.62 ½ Nov Class III milk was dn .01 cents at 14.56

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