Market Line Report for Monday, December 16th

Last week the markets were all about trade, from an agreement in Washington D.C. concerning the USMCA to hints at trade deals with China.

For futures:

Chicago Soft Wheat opened last week at $5.23 ½ and ended the week closing Friday at $5.32 ½ up $0.02 ¼ on the day and up $0.09 on the week.

Live cattle with an impressive finish to the week up $2.45 on Friday to $127.55. That’s puts that market in the green for the week up from $125 Monday morning.

Feeder Cattle also back up Friday posting a $3.12 1/4 rally to close the week at $145.67 ½. That market is up over $4 on the week.

Class III Milk Futures down $0.21 on Friday to end the week at $18.03. That market lost $0.64 net last week since it’s open last Monday morning at $18.67.

On the cash side, Portland prices for soft white wheat of ordinary protein closed unchanged Friday with bids ranging from $5.90 - $5.97.

Hard Red Winter Wheat with 11.5% protein also unchanged with bids ranging from $5.87 ¾ - $6.12 ¾.

Dark Northern Spring climbed another $0.02 ¾ Friday. Bids ranged from $6.55 ¾ - $7.00 ¾ for 14% protein.

And December White Club Wheat of ordinary protein sat unchanged Friday after the drop last week. Bids now range from $5.97 - $6.40.