Marketline Report for Wednesday, April 24th
This is Bob Larson with the Market Line Report for Wednesday, Apr 22nd. U.S. markets expecting demand for pork in China to soar. From the floor of the CME in Chicago, here's Terry Roggensack.
ROGGENSACK ... "Massive drop in the pig herd in China expected to spark big imports, especially in the second half of the year by China. Cumulative U.S. pork exports sales for 2019 631,800 tons, that's up 20% from a year ago. China, after booking an additional 23,000 tons last week. The prior week was their record, 77,000 so their purchases have really come on the past couple of weeks. Total commitments now, 166,000 of that total is going to China. That's 26.3% of the total now going to China of our total commitments on the books."
Chicago May Wheat prices closed yesterday up 3 at 437 ¾
May Corn was dn 3 ½ at 351
Portland prices for soft white wheat of Ordinary Protein for Apr ended the day unch ranging from 5-80 to 5-90 Hard Red Winter wheat with 11 ½ % protein, prices for Apr were up 2 ¾ ranging from 5-84 ½ to 6-09 ½ DNS wheat with 14 % protein, prices for Apr were up 2 ranging from 6-16 ¼ to 6-26 ¼
Live Cattle for Apr were dn $.17 ½ at 128.25 May Feeder cattle are dn $1.17 ½ to 149.45 Apr Class III milk was unch cents at 15.92
