Marketline Report for Friday, April 5th
This is Bob Larson with the Market Line Report for Friday, Apr 5th. Prices climb higher in the cattle market in Thursday trading. From the floor of the CME in Chicago, here's Terry Roggensack.
ROGGENSACK ... "The March 22nd top appears to be in place, but we could see a short-term bounce now with the weather a little dicey ahead and better demand. The U.S. has less than 1% of the China beef market. China is the largest importer in the world of beef except for the U.S. and again we have less than 1% of the business so as part of the China-U.S. trade negotiations it could very well end up that China commits to buying a lot of U.S. beef in the trade deal. That could be a short-term bullish factor for the market."
Chicago May Wheat prices closed yesterday dn ¼ at 470 ¾
May Corn was up 2 ½ at 365
Portland prices for soft white wheat of Ordinary Protein for Apr ended the day unch ranging from 5-90 to 6-05 Hard Red Winter wheat with 11 ½ % protein, prices for Apr were up 2 ¾ ranging from 6-09 ½ to 6-39 ½ DNS wheat with 14 % protein, prices for Apr were dn 7 ½ ranging from 6-32 ¼ to 6.47 ¼
Live Cattle for Apr were up $1.77 ½ at 127.57 ½ Apr Feeder cattle are up $1.57 ½ to 146.67 ½ Apr Class III milk was up .01 cents at 15.82
