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Bob Larson Marketline Report for Tuesday, April 9th
by Bob Larson, click here for bio

Program: Market Line
Date: April 09, 2019

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This is Bob Larson with the Market Line Report for Tuesday, Apr 9th. Live cattle are lower in Monday trading thanks to inactivity in the cash market. From the floor of the CME in Chicago, here’s Virginia McGathey.

McGATHEY … “We expected that there might be something working a little bit ahead of time during the week because we’re going to be getting that storm later on, but it just didn’t come like today, Monday, is just like every other Monday for the past six months. There has been very slow cash trade that would definitely give us a little bit of direction or an idea of where we’re going to go for the week, but kind of added a little bit of continued pressure all during the day. But, the feeders were easier as well. The weather worries have some concerns that they’re going to really going to create some havoc with the logistics of moving some of the meat around. And, I guess, demand for beef is not going to come until after the storm and we get some of the grilling season to begin. This is really kind of a strange time to have this blizzard and this deep cold weather to happen at this time, but nothing is normal these days.”

Chicago May Wheat prices closed yesterday dn 2 ½ at 463 ¾

May Corn was dn 2 ½ at 359 ¾

Portland prices for soft white wheat of Ordinary Protein for Apr ended the day unch ranging from 5-90 to 6-00 Hard Red Winter wheat with 11 ½ % protein, prices for Apr were up ¼ ranging from 6-01 ½ to 6-26 ½ DNS wheat with 14 % protein, prices for Apr were up 1 ½ ranging from 6-29 to 6-39

Live Cattle for Apr were dn $.25 at 125.72 ½ Apr Feeder cattle are up $.57 ½ to 146.77 ½ Apr Class III milk was up .01 cents at 15.86

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