Marketline Report for Monday, September 20th
This is Bob Larson with the Market Line Report for Monday, September 20th. Cattle prices continue a downward trend on the market. From the floor of the CME in Chicago, here’s Virginia McGathey.
McGATHEY … “Today in the livestock market, cattle was lower. Again, that rebound was unable to hold. I think it’s just leaving the markets at risk of, perhaps, testing the lows again next week. Technically, it’s just heavily, heavily oversold. We’re just trying to get something to turn this around right now. There was better exports this week, but it just wasn’t enough to kind of move the needle. The feeders did fall as well. Boxed beef prices continue to sag. Futures did make another new low on the feeders so that’s pulling the live cattle down as well.”
Chicago Dec Wheat prices closed yesterday dn 4 ¼ at 707 ¼
Dec Corn was dn 2 ¼ at 527 ¼
Portland prices for soft white wheat of Ordinary Protein for Oct ended the day unch ranging from 10-50 to 11-50 Hard Red Winter wheat with 11 ½ % protein, prices for Oct were dn 7 ½ ranging from 8-63 to 8-88 DNS wheat with 14 % protein, prices for Oct were dn 6 ranging from 10-35 ½ to 10-45 ½
Live Cattle for Oct were dn $.80 at 122.92 ½ Sept Feeder cattle are dn $1.00 to 154.72 ½ Sept Class III milk was unch cents at 16.61
