Marketline Report for Tuesday, August 6th
McGATHEY ... "Cattle was mixed. There was a liquidation before the buying started. The market really started much lower. There's increased interest in European trade, plus the drop in the Dow. The big question is, will it last. Time will tell. We're watching because the markets are really going to be moving around now that the Dow has made such a big move, certainly the biggest move and absolutely to the down side for 2019. Feeders did swing up big-time and it actually went from a new low, a new 8-month low, to higher on the day.That really caught everyone by surprise and I think that all the liquidators turned right around and bought it back up. But, beef values have turned positive and now we're going to be focusing on a Labor Day bump hopefully if there's going to be a little bit more demand."
Chicago Sept Wheat prices closed yesterday up 3 ¾ at 494
Sept Corn was up 5 ¾ at 405 ¾
Portland prices for soft white wheat of Ordinary Protein for Aug ended the day unch ranging from 5-75 to 6-00 Hard Red Winter wheat with 11 ½ % protein, prices for Aug were up 5 ranging from 5-51 ¾ to 5-56 ¾ DNS wheat with 14 % protein, prices for Aug were up 2 ¼ ranging from 5-99 ½ to 6-04 ½
Live Cattle for Aug were up $.15 at 107.85 Aug Feeder cattle are up $.90 to 140.40 Aug Class III milk was up .13 cents at 17.42