Marketline Report for Tuesday, January 15th

Marketline Report for Tuesday, January 15th

Bob Larson
Bob Larson
This is Bob Larson with the Market Line Report for Tuesday, Jan 15th. Cattle traders are watching the weather in Monday's market. From the floor of the CME in Chicago, here's Virginia McGathey.

McGATHEY ... "Today, cattle was really steady. That snow storm that's on the horizon, that's coming at the end of the week here is really underpinning prices, kind of offering a little bit of support, that it will definitely push the market higher because it's about 15-inches expected to fall in the Midwest area. That definitely is going to put a damper on production or at least being able to move the beef through the pipeline. And, right now we're in an area where the demand is pretty steady right now and so that would definitely interrupt just the processing of the beef and being able to do the shipping. And, the feeders slipped a little bit. There's been limited buying activity today which makes it kind of interesting that they diverge from where the live cattle are."

Chicago March Wheat prices closed yesterday dn 5 ¼ at 514 ¾

March Corn was up ¼ at 379 ¼

Portland prices for soft white wheat of Ordinary Protein for Jan ended the day dn 5 ranging from 6-10 to 6-35 Hard Red Winter wheat with 11 ½ % protein, prices for Jan were dn ½ ranging from 6-54 to 6-59 DNS wheat with 14 % protein, prices for Jan were dn 9 ½ ranging from 6-55 ½ to 6-70 ½

Live Cattle for Feb were up $.45 at 125.50 Jan Feeder cattle are dn $1.27 ½ to 144.67 ½ Jan Class III milk was dn .02 cents at 14.05

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