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Bob Larson Marketline Report for Wednesday, November 15th
by Bob Larson, click here for bio

Program: Market Line
Date: November 15, 2017

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This is Bob Larson with the Market Line Report for Wednesday, November 15th The cattle market continues its November slide. From the floor of the CME in Chicago, here’s Joe Vaclavik ...

Joe Vaclavik ... “The live cattle market was sharply lower here on Tuesday. We saw our nearby November futures contract again trade below $120. I believe that contract topped out just above $127 earlier in November. So, we’ve seen a pretty quick collapse here in the cattle market during the first half of the month. Cash cattle market has been off just a little bit. I believe we’ve traded $122 in some areas last week and that would have been down from $124 or $125 the previous week. It also appears as if the boxed beef market may have posted some sort of short-term top so all-in-all some of the fundamentals appear to be just slightly negative here this week.”

Chicago Dec Wheat prices closed yesterday up 6 ¾ at 427 ½

December corn was dn 4 ¾ at 337 ½

Portland prices for soft white wheat of Ordinary Protein for November ended the day up 3 ¾ ranging from 5-24 to 5-35 Hard Red Winter wheat with 11 ½ % protein, prices for November were up ½ ranging from 5-83 to 5-93 DNS wheat with 14 % protein, prices for November were dn 4 ¼ ranging from 7-49 to 7-59

Live Cattle for December were dn $1.07 ½ at 119.57 ½ November Feeder cattle are dn $1.07 ½ to 157.77 ½ November Class III milk was up .02 cents at 16.82

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