Marketline Report for Monday, June 10th
McGATHEY ... "The cattle was steady. The cash trade in the north is really expected and it kind of gave it a little bit of an uptick, you know, was trading on both sides of the market, at some point was even a little bit depressed. But, we are definitely on a wait and see situation here with the tariff war with Mexico and China. It is absolutely working into the markets right now and it's got everyone very concerned. The feeders flipped as well. The week definitely ended with less market interest and that's why it was considerably lower than cattle. Could that be the tell of which way the cattle market and the beef prices are going. It definitely could be. There is real concerns that the feed for cattle is going to be a lot more expensive and maybe more difficult to come by because of the grain price rally."
Chicago July Wheat prices closed yesterday dn 5 ½ at 503 ½
July Corn was dn 4 ¾ at 415 ¾
Portland prices for soft white wheat of Ordinary Protein for Jun ended the day unch ranging from 5-75 to 6-07 Hard Red Winter wheat with 11 ½ % protein, prices for Jun were dn 6 ¼ ranging from 6-19 to 6-24 DNS wheat with 14 % protein, prices for Jun were up 3 ¾ ranging from 6-48 ¾ to 6-58 ¾
Live Cattle for Jun were dn $.67 ½ at 106.75 Aug Feeder cattle are dn $2.02 ½ to 137.30 Jun Class III milk was up .03 cents at 16.25