Recap of Markets Last Week
A lot of noise last week with trade deals meeting or not meeting market expectations. Here’s Virginia McGathey.
McGathey…”The cattle was very steady today. It seems like there's been a medium kind of cash trade right now, and the winter storm ahead is definitely adding a little bit of pressure to the market. Even the feeders were a little bit easier today. They were a holding on to yesterday's at rebound because the market was kind of all over the place.”
Taking a look back on last week’s market performance,
Chicago Wheat futures closed up $0.05 ¼ to $5.70 ½ putting that market up $0.05 ¼ on the week.
March Corn closed up $0.13 ½ to $3.89 ¼. That market down $0.02 ¾ on the week.
Kansas City Hard Red Winter Wheat futures closed up $0.09 ½ Friday at $4.94 ¼, bringing that market down $0.02 ¼ overall on the week.
Not much changing for cash bids in Portland. Soft white wheat of ordinary protein unchanged on Friday at $6.20 to $6.25.
Club Wheat of Ordinary Protein also unchanged at $6.25 to $7.95.
Dark Northern Spring wheat did spike $0.09 ¾ on Friday. Those bids now range from $6.95 to $7.30 for 14% protein.
Live Cattle futures closed up $0.22 ½ to $126.35 on the February board down a dollar on the week.
March Feeder Cattle were up $0.17 ½ on Friday to $145 even. That market down $2.25 net on the week.
Class III milk with another positive day on Friday up $0.13 to $17.43. That market up $0.53 from last Monday’s open.