Marketline Report for Thursday, October 15th

This is Bob Larson with the Market Line Report for Thursday, Oct 15th. The Cattle Market falls off a bit on Wednesday’s uncertain beef demand. From the floor of the CME in Chicago, here’s Virginia McGathey .

McGATHEY … “It looks like the lack of food service activity, you know, just has the market a little bit worried and maybe that’s what added to the liquidation we saw on Monday. The market did move lower. I think these issues about COVID and the opening of the economy certainly has the live cattle traders a little bit on pins and needles. Now feeders, were consolidated pretty much today, even though at some point they were somewhat lower. But there is some cash market support so it’s helping the market. But it looks like those feeder futures seem to have found somewhat of a bottom so we see the market consolidating a little bit and kind of moving sideways.”

Chicago Dec Wheat prices closed yesterday up 2 ¾ at 596 ¾

Dec Corn was up 5 ¼ at 396 ½

Portland prices for soft white wheat of Ordinary Protein for Oct ended the day up .30 ranging from 5-75 to 5-85 Hard Red Winter wheat with 11 ½ % protein, prices for Oct were up 4 ranging from 6-80 ¼ to 6-90 ¼ DNS wheat with 14 % protein, prices for Oct were up 1 ¾ ranging from 6-62 to 6-80

Live Cattle for Oct were dn $.45 at 108.37 ½ Oct Feeder cattle are up $.25 to 138.37 ½ Oct Class III milk was up .13 cents at 21.30