Marketline Report for Monday, July 12th
This is Bob Larson with the Market Line Report for Monday, July 12th. Live Cattle hold their ground in Friday trading. From the floor of the CME in Chicago, here’s Virginia McGathey.
McGATHEY … “Today in the livestock market, cattle was a little bit steady, at least it ended there. It started a little bit lower. I think the continued selling has been holding futures really towards its lows of where its been for the past number of weeks. The cash performance has been pretty much weak and that’s adding to some of the pressure on those futures. I think the weak corn market, it’s been down for, you know, four days in a row, just has been no help. We thought that might give the market a little bit of a boost. It just didn’t happen that way. The CVAL right now is up though at 16.78%. That’s just telling us a little more activity in the market.”
Chicago Dec Wheat prices closed yesterday dn 03 at 615
July Corn was dn 10 at 513 ¾
Portland prices for soft white wheat of Ordinary Protein for July ended the day unch ranging from 7-70 to 8-40 Hard Red Winter wheat with 11 ½ % protein, prices for July were up 8 ¾ ranging from 6-74 to 6-99 DNS wheat with 14 % protein, prices for July were up 1 ½ ranging from 8-89 to 9-05
Live Cattle for Aug were up $.02 ½ at 119.30 Aug Feeder cattle are dn $2.07 ½ to 159.40 Jun Class III milk was dn .03 cents at 17.56
