Marketline Report for Thursday, April 11th
This is Bob Larson with the Market Line Report for Thursday, Apr 11th. No ups or downs in Wednesday trading for the cattle market. From the floor of the CME in Chicago, here's Virginia McGathey.
McGATHEY ... "Today in the livestock market, cattle was steady. It seems that the sluggish cash trade just is holding the market right where it's at. The blizzard that started today is bound to effect logistics, including some flooding, and beef demand may stall. Even so, the futures are consolidating right here and we're expecting that, you know, who knows, something might happen to give us another lift. There hasn't been a big sell-off in spite of the fact of all these kind of bearish effects. As we look at the feeders, they were a little bit easier too. The better demand in beef was just not enough to keep the market up or to offer it enough support for the futures, but perhaps this cold weather is kind of confusing some of the traders for now."
Chicago May Wheat prices closed yesterday dn 1 ½ at 457 ¾
May Corn was up 1 ¾ at 361 ½
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 dn 1 ¼ ranging from 5-96 ¼ to 6-21 ¼ DNS wheat with 14 % protein, prices for Apr were up 7 ¼ ranging from 6-35 ¼ to 6-45 ¼
Live Cattle for Apr were dn $.02 ½ at 125.82 ½ Apr Feeder cattle are dn $.97 ½ to 145.00 Apr Class III milk was dn .05 cents at 15.90
