Marketline Report for Monday, April 15th
McGATHEY ... "Today in the cattle market, the livestock as it were, the cattle is a little bit higher today. There's been an uptick in some cash trade. The futures are consolidating after yesterday's big surge. The underlying support should bring more buyers so watch out for some more storm info. I think that it's really going to affect these markets. The feeders also firmed up. That seasonal demand is really underpinning prices and holding it up. The rising hog prices, plus the declining weights, plus a slowdown in production because of the storm. All these things added together really offers a little bit of support. It's the end of the week and that is making showing the market is really relatively strong overall. We expect that to continue next week."
Chicago May Wheat prices closed yesterday up 4 at 464 ½
May Corn was up 1 at 360 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 3 ¾ ranging from 6-04 ¼ to 6-29 ¼ DNS wheat with 14 % protein, prices for Apr were dn 2 ranging from 6-36 ¼ to 6-46 ¼
Live Cattle for Apr were up $.55 at 126.72 ½ Apr Feeder cattle are dn $.20 to 145.30 Apr Class III milk was up .02 cents at 15.93