Marketline Report for Friday, July 19th
McGATHEY ... "Live cattle market was a little bit easier today. There is a short-term correction. Now, we know that there is somewhat of an up-trend, but the futures are really having trouble sustaining that uptrend. But, it's not over yet so don't give up hope here. This has happened before and I think by Friday maybe we'll get a little more action and kind of get some buying follow through, let's hope. Feeders were actually lower still and I think that they were trying to say that the market was a little bit over-bought. That being said, it's not like we had a skyrocketing market over the last couple of days. Now, for two days in a row the feeders have been down much harder than the live cattle. Is that an indication that the market is really, completely pulling back? I think that it is very possible that we can move back around."
Chicago Sept Wheat prices closed yesterday dn 12 at 493 ¾
Sept Corn was dn 11 ½ at 425 ¼
Portland prices for soft white wheat of Ordinary Protein for July ended the day unch ranging from 5-75 to 6-20 Hard Red Winter wheat with 11 ½ % protein, prices for July were dn 9 ranging from 5-57 ¾ to 5-67 ¾ DNS wheat with 14 % protein, prices for July were dn 2 ¼ ranging from 6-00 ½ to 6-05 ½
Live Cattle for Aug were dn $.72 ½ at 107.20 Aug Feeder cattle are dn $1.15 to 139.05 July Class III milk was up .11 cents at 17.42