Marketline Report for Wednesday, October 25th
This is Bob Larson with the Market Line Report for Wednesday, October 25th Cattle trading gets a boost on Tuesday. From the floor of the CME in Chicago, here's Joe Vaclavik ...
Joe Vaclavik ... "The live cattle market was sharply higher here on Tuesday. Our December futures contract traded their highest level since mid-July so we've had a really nice rally here this week so far. We've still got about a week to go. We've still got a lot of cash trade and a lot of boxed beef trade to discover here. But, all in all, the market acting very very well. The cold storage report was out yesterday from USDA and it was kind of a mixed bag. Cold storage was up two and a half percent on the month, but 6 percent below last year. So, the trade handling the news very very well here on Tuesday with most of your live cattle contracts trading two dollars higher or more. A lot of the feeder cattle contracts trading three dollars higher or more."
Chicago Dec Wheat prices closed yesterday up 1 ¼ at 438 ¾
December corn was up 1 ½ at 352 ¾
Portland prices for soft white wheat of Ordinary Protein for November ended the day dn 2 ranging from 5-33 to 5-43 Hard Red Winter wheat with 11 ½ % protein, prices for November were up ½ ranging from 5-74 to 5-99 DNS wheat with 14 % protein, prices for November were up 4 ¾ ranging from 7-34 ¾ to 7-54 ¾
Live Cattle for Oct were up $2.10 at 113.62 ½ October Feeder cattle are up $1.50 to 155.15 October Class III milk was unch cents at 16.61
