Marketline Report for Friday, September 29th
Vaclavik ... "Cattle futures were mixed and traded both sides of unchanged here on Thursday. Did a sharp sell-off early in the week. Monday and Tuesday we saw some big downward pressure as a result of a very bearish on-feed report from USDA this past Friday. So, Wednesday and Thursday here we've kind of stabilized here for the most part. Cash trade has been mostly lacking. We haven't really seen much this week. We had an attempt at a cash trade on the fed cattle exchange yesterday. I don't believe we saw anything change hands. We'll see what develops here in the country. I think given the big sell-off in the futures earlier this week a steady cash trade would be a victory for the bulls in this market. We are mostly $108 in most areas last week so if we were able to stay steady I'd say that'd be a positive sign."
Chicago Dec Wheat prices closed yesterday dn 6 ½ at 455
December corn was dn 1 ½ at 352 ¾
Portland prices for soft white wheat of Ordinary Protein for October ended the day dn 6 ½ ranging from 5-30 to 5-45 Hard Red Winter wheat with 11 ½ % protein, prices for September were dn 6 ranging from 5-73 to 6-08 DNS wheat with 14 % protein, prices for September were dn 4 ¾ ranging from 7-55 to 7-75
Live Cattle for Oct were up $.40 at 109.05 Sept Feeder cattle are up $.37 ½ to 152.75 October Class III milk was dn .04 cents at 16.30