07/04/05 Markets closed for the 4th

Marketline July 4, 2005 Futures exchanges and government price reporting offices are closed today for the 4th of July Holiday. Heading into the three-day weekend wheat futures closed higher Friday, but on the week the Chicago September contract lost 14 cents. Wheat mainly followed corn and soybeans higher. At the Chicago Board of Trade Virginia McGanty say hot dry weather in the corn belt was the focus for traders and all the grains finished strong Friday. . McGanty: "Most of the traders and the funds are looking to not be too short here in this market. If the weather stays the way it is, we could have plenty of activity for the rest of the summer." On Friday Chicago September wheat was up three cents at 3-34 ½. September corn up 3 1/4 at 2-25 ½. Portland cash white wheat steady to a penny higher, mostly 3-77. August new crop 3-74. Club wheat 3-83. PNW HRW 11.5 percent protein higher at 3-99. Dark northern spring 14% protein higher at 5-12. Export barley 100 dollars a ton. Cattle futures bounced higher Friday on short covering after the August contract showed signs of establishing a potential bottom on the charts. There were some cash cattle traded in Texas Friday afternoon at 82 dollars, down a dollar from the previous week. Aug live cattle were up three cents at 79-33. Aug feeders up 88 at 110-30. Aug Class III milk up a dime at 14-84. I'm Bob Hoff and that's Marketline on the Northwest Ag Information Network.