Marketline Report for Thursday, July 25th
CHRISTY ... "Cattle was steady. There's limited cash trade today so it was kind of like slow. The market was really sluggish. It actually traded on both sides of unchanged, but really just slightly up, slightly lower. As the futures really do march higher, the up-trend really is still intact and that gives support to firmer prices going forward. Just the fact that the market didn't pull back tells us that there is a little bit of strength there, albeit moving sideways, but that does tell a lot. And, certainly, the bottom is in and the market is continuing to move higher even though we today we stalled out a little bit. Now, feeders had a bounce today. The grain trade does create a lot of uncertainty with the feeder market and it was lower as the grains were higher opening up for today."
Chicago Sept Wheat prices closed yesterday up 10 ½ at 597
Sept Corn was dn 1 ½ at 422 ½
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 up 8 ranging from 5-64 ½ to 5-74 ½ DNS wheat with 14 % protein, prices for July were up 1 ¾ ranging from 5-97 ¼ to 6-02 ¼
Live Cattle for Aug were dn $.15 at 108.95 Aug Feeder cattle are up $.62 ½ to 142.87 ½ July Class III milk was up .07 cents at 17.47