Marketline Report for Thursday, September 19th
McGATHEY ... "Cattle was mixed. Seasonal beef demand is relatively soft right now, a little sluggish. However, the market has rallied almost 6% in the past week, but it is consolidating a little bit and not filling that gap that was created from the Tyson fire, which is relatively interesting. The market has moved right up to the bottom of that gap, but hasn't been able to fill it. I think that that's a little bit concerning, I think, for some of the traders. The feeders were firm again today. The cash trade is better than last week so that looks pretty good. But, even with the firmer tone, there's not much expected today. We're going to look for more increased trade tomorrow and Friday. That might give us a little bit of an indication."
Chicago Dec Wheat prices closed yesterday up 5 ¼ at 489 ½
Dec Corn was up 3 ¼ at 371 ¾
Portland prices for soft white wheat of Ordinary Protein for Sept ended the day up 18 ranging from 5-88 to 5-95 Hard Red Winter wheat with 11 ½ % protein, prices for Sept were up 22 ½ ranging from 5-54 ¾ to 5-69 ¾ DNS wheat with 14 % protein, prices for Sept were up 11 ¾ ranging from 5-93 ¼ to 6-03 ¼
Live Cattle for Oct were up $1.02 ½ at 100.42 ½ Sept Feeder cattle are up $.70 to 139.90 Sept Class III milk was dn .02 cents at 18.27