Marketline Report for Wednesday, November 28th
This is Bob Larson with the Market Line Report for Wednesday, Nov 28th. Consumer confidence is up in Tuesday cattle trading. From the floor of the CME in Chicago, here's Terry Roggensack.
ROGGENSACK ... "Consumer confidence numbers in November coming in at $139.7. Still quite friendly for the market as far as consumer demand for beef. The confidence numbers at an 18-year high in October, so we're down a little bit off of that, but still very strong for consumer demand. Second factor is massive imports of all meats is certainly possible by China by for 2019. The U.S. only has a market share of China import demand of 0.5% so there's plenty of possibilities for the U.S. beef to be shipped to China in the next year."
Chicago Dec Wheat prices closed yesterday dn 9 ½ at 497 ½
Dec Corn was up ½ at 356
Portland prices for soft white wheat of Ordinary Protein for Nov ended the day unch ranging from 6-15 to 6-30 Hard Red Winter wheat with 11 ½ % protein, prices for Nov were dn 6 ranging from 5-98 ½ to 6-13 ½ DNS wheat with 14 % protein, prices for Nov were up 3 ½ ranging from 6-75 ½ to 6-85 ½
Live Cattle for Dec were dn $.22 ½ at 116.87 ½ Jan Feeder cattle are dn $.72 ½ to 148.50 Nov Class III milk was up .01 cents at 14.49
