Marketline Report for Friday, September 8th
Vaclavik ... "Live cattle market was sharply higher here on Thursday. We've rallied quite a bit here today after posting some fresh multi-month lows as a matter of fact last week so the market rebounding sharply. We really don't have much here in terms of news, but the cash cattle market was soft last week and, as a matter of fact, the October futures, which are your spot month now, are trading at a two to three dollar premium from the last cash trade which was in the $1.04 to $1.05 range last week. The futures up into the $1.07-$1.08 range here on Thursday so the market's really turned around and I'm sure there will be at least a portion of traders looking for a higher cash trade later this afternoon, or perhaps later this week or early next week."
Chicago Sept Wheat prices closed yesterday dn 8 ¼ at 416 ½
Sept corn was dn 5 ¼ at 341 ¾
Portland prices for soft white wheat of Ordinary Protein for September ended the day unch ranging from 4-90 to 5-20 Hard Red Winter wheat with 11 ½ % protein, prices for September were dn 7 ranging from 5-16 ¾ to 5-61 ¾ DNS wheat with 14 % protein, prices for September were up 5 ¼ ranging from 7-39 ¾ to 7-59 ¾
Live Cattle for Oct were up 1.52 ½ at 106.52 ½ Sept Feeder cattle were up $2.25 to 145.47 ½ Sept Class III milk was dn .08 cents at 16.26