Marketline Report for Monday, October 21st

Marketline Report for Monday, October 21st

Bob Larson
Bob Larson
This is Bob Larson with the Market Line Report for Monday, Oct 21st. Live cattle ends the week on a low note in Friday trading. From the floor of the CME in Chicago, here’s Virginia McGathey.

McGATHEY … “Cattle was lower. The rally just seems to be running out of steam. That plant explosion in Dodge City, that could have a little bit of an impact as we’re going forward. We knew that possibly, any kind of news or headline that might be on the down side could start to expose some of the vulnerability to the beef side of the market. And, with it running out of steam, of course after it reached its objective of $114, it had a struggle those last couple of dollars, ,but it did make it through and that means that the market made it more vulnerable and now, as we see it, start to fall. Feeders did fall as well. That market correction is in place and the week, it’s at triple-digit losses and a lot of profit taking ensuing.”

Chicago Dec Wheat prices closed yesterday up 6 ¾ at 530 ½

Dec Corn was dn 3 ¾ at 390 ½

Portland prices for soft white wheat of Ordinary Protein for Nov ended the day unch ranging from 6-03 to 6-05 Hard Red Winter wheat with 11 ½ % protein, prices for Oct were up 2 ½ ranging from 5-88 ¾ to 5-98 ¾ DNS wheat with 14 % protein, prices for Oct were dn 7 ½ ranging from 6-64 ½ to 6-84 ½

Live Cattle for Oct were dn $1.92 ½ to 110.60 Oct Feeder cattle are dn $.70 to 143.60 Oct Class III milk was up .03 cents at 18.64

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