Marketline Report for Wednesday, October 14th

This is Bob Larson with the Market Line Report for Wednesday, Oct 14th. The Hog Market rallies given a bit of a boost from the Cattle side. From the floor of the CME in Chicago, here’s Scott Shellady .

SHELLADY … “Look, the chart looks pretty good. We’ve got a great recovery rally. We took a little bit of a breather because we had some pressure over there from the cattle, so to churn at these levels I think is healthy. If you take a look at, going to tape here today, we’ve got the fronts a little lower, the backs a little higher. That’s okay, but I just like the fact that we can do some technical work up here. There’s been some damage done to the cattle markets and they’re feeling some pressure. I’d like to see how the hogs hold up in the midst of all that stuff.”

Chicago Dec Wheat prices closed yesterday dn ¼ at 594

Dec Corn was up 2 ¼ at 391 ¼

Portland prices for soft white wheat of Ordinary Protein for Oct ended the day unch ranging from 5-45 to 5-75 Hard Red Winter wheat with 11 ½ % protein, prices for Oct were up ¾ ranging from 6-75 ¼ to 7-06 ¼ DNS wheat with 14 % protein, prices for Oct were up 1 ½ ranging from 6-60 ¼ to 6-63 ¼

Live Cattle for Oct were up $.47 ½ at 108.82 ½ Oct Feeder cattle are up $.82 ½ to 138.12 ½ Oct Class III milk was unch cents at 21.17