Marketline Report for Tuesday, December 10th
McGathey…”Cattle was a little bit easier. That Tyson, Kansas plant is back online and production schedules look to quickly add to the supplies there by capping any kind of a further rally, at least for the short term. Right now, the market is still staying relatively strong and it has some traders wondering, are we going to get one more surge? Feeders slipped just a little bit today. There were weaker beef values, so we're watching that closely. “
Chicago March Wheat futures started the week by closing down $0.01 1/2 to $5.22 1/2.
Monday March Corn closed down $0.01 to $3.75 1/2
Portland prices for soft white wheat of ordinary protein ended yesterday unchanged from Friday at $5.90 to $5.92.
Hard Red Winter wheat with 11 ½ % protein down $0.05 with Dec bids ranging from $5.71 to $5.96.
Dark Northern Spring wheat prices for Dec were up sharply yesterday ranging from $6.43 1/4 to $6.88 1/4 for 14% protein.
Club Wheat of Ordinary Protein for Dec at yesterday’s close ranged from $5.92 to $7.40.
Live Cattle futures were mostly steady closing at $124.75 for February board. Feeder Cattle were mixed at the close with Jan at $141.52 1/2.
December class iii milk was down $0.04 at $19.51.