Marketline Report for Thursday, November 21st

Marketline Report for Thursday, November 21st

Bob Larson
Bob Larson
This is Bob Larson with the Market Line Report for Thursday, Nov 21st. Weak boxed beef prices go easy in Wednesday trading for the cattle market. From the floor of the CME in Chicago, here’s Virginia McGathey.

McGATHEY … “Boxed beef prices are a little bit weak, but in spite of that the market has not dropped showing its tremendous strength, possibly because of that Senate legislation that was passed to support Hong Kong. That just tells us there isn’t going to be any kind of resolution with the U.S.-China tariff war any time soon. That is positive for the beef side because I think that a lot of the markets have moved to beef over pork just because of the skyrocketing prices in China and the production we have here in the U.S.”

Chicago Dec Wheat prices closed yesterday up 3 ½ at 515

Dec Corn was dn 3 ¼ at 366 ¼

Portland prices for soft white wheat of Ordinary Protein for Nov ended the day unch ranging from 5-90 to 5-95 Hard Red Winter wheat with 11 ½ % protein, prices for Nov were up ¼ ranging from 5-86 to 6-01 DNS wheat with 14 % protein, prices for Nov were dn 2 ranging from 6-46 ¼ to 6-76 ¼ Club Wheat of Ordinary Protein for Nov were unch ranging from 5-90 to 7-70

Live Cattle for Dec were up $.52 ½ to 119.35 Nov Feeder cattle are up $.07 ½ to 146.60 Nov Class III milk was up .02 cents at 20.34

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