Recouping Some Losses

Recouping Some Losses. I’m Greg Martin and this is Market Line.

August cattle surged higher on Friday, trading back to the top of the recent trading range at one point, as continued strength in the stock market, less volatility in the corn market and short-covering ahead of the long weekend lent support. Ideas that excessive heat extending all the way north to Nebraska feedlots could cause problems with weight-gain added to the positive tone.

CME’s George Kopp has more on Fridays close.

KOPP: We learned that from June 9 to June 30, the 3-week period we didn’t have enough acres of corn planted where we had the second largest amount of acres planted since World War II. So I’d like to say the USDA keeps up on our toes by throwing is curve balls every now and then.

On Friday Chicago July wheat dn 1/4 at 584 1/2.
July corn up 11 3/4 at 640 3/4
Portland soft white wheat and club wheat mostly 6-34.
New crop August white wheat 6-30 to 6-47 dn 14 to up 2.
Hard red winter 11.5 percent protein mostly 7.56.
DNS 14% protein mostly 10.15
August live cattle up 1.97 at 112.85
August feeders up 2.40 at 140.47
July Class III milk off a penny to 20.51

I’m Greg Martin and that’s Market Line on Northwest Aginfo Net.