Marketline Report for Friday, October 11th

Marketline Report for Friday, October 11th

Bob Larson
Bob Larson
This is Bob Larson with the Market Line Report for Friday, Oct 11th. Hogs continue to dominate the news in the livestock market. From the floor of the CME in Chicago, here’s Scott Shellady.

SHELLADY … “Let’s talk about lean hogs for a second here. They’ve been in the news. You can’t really talk about lean hogs without talking about China, but let’s just first talk about lean hogs on the day. They’re easier, they were lower, but you know the way that these charts are setting up and with what’s out there as far as news, I’d just be a little careful about getting too out over your skis and getting short or too negative this contract. Let’s first talk about the African Swine Fever. It kind of went quiet, but now it’s kind of sneaking back into the news. So, you’ll see it abbreviated as ASF, but that’s going to be something that I think could still put a little bit of a floor underneath this contract here for a while and the way things are setting up it’s not quite a channel, I wouldn’t call it a channel yet technically speaking, but it’s going to be something that we’re going to have to be paying attention to.”

Chicago Dec Wheat prices closed yesterday dn 7 ¼ at 491 ¼

Dec Corn was dn 14 at 380

Portland prices for soft white wheat of Ordinary Protein for Nov ended the day dn 3 ranging from 6-00 to 6-03 Hard Red Winter wheat with 11 ½ % protein, prices for Oct were dn 10 ranging from 5-65 ¼ to 5-70 ¼ DNS wheat with 14 % protein, prices for Oct were dn 6 ½ ranging from 6-25 ¼ to 6-55 ¼

Live Cattle for Oct were up $.25 at 108.92 ½ Oct Feeder cattle are dn $.20 to 144.50 Oct Class III milk was dn .11 cents at 18.60

Previous ReportMarket Line October 10, 2019
Next ReportMarketline Report for Monday, October 14th