Marketline Report for Thursday, November 28th

Marketline Report for Thursday, November 28th

Bob Larson
Bob Larson
This is Bob Larson with the Market Line Report for Thursday, Nov 28th. Live cattle reaches new highs on news of a cash business uptick. From the floor of the CME in Chicago, here’s Virginia McGathey.

McGATHEY … “Cattle had a new high again. The uptick in the cash business really started to underpin the market. There’s both sides of that cash trade are just looking to fill their needs so they don’t have to come back on Friday because the snow storm could really have some serious effects on the market. And, if it continues to stay and gets worse than we thought, then it could go another week and then who knows about transportation, and what-have-you, that definitely will stall the pipeline a little bit. Feeders were higher as well with that winter storm over most of the country. I think that makes a fluid market support and actually regained all of losses from last Friday.”

Chicago Dec Wheat prices closed yesterday dn 1¾ at 526 ¼

Dec Corn was dn 4 ¾ at 362 ½

Portland prices for soft white wheat of Ordinary Protein for Nov ended the day unch ranging from 5-85 to 5-95 Hard Red Winter wheat with 11 ½ % protein, prices for Nov were dn 5 ¾ ranging from 5-86 ¾ to 6-01 ¾ DNS wheat with 14 % protein, prices for Nov were dn 5 ½ ranging from 6-33 ½ to 6-63 ½ Club Wheat of Ordinary Protein for Nov were unch ranging from 5-85 to 7-70

Live Cattle for Dec were up $1.02 ½ to 121.77 ½ Jan Feeder cattle are up $1.70 to 143.57 ½ Nov Class III milk was up .03 cents at 20.37

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