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Bob Larson Marketline Report for Friday, November 17th
by Bob Larson, click here for bio

Program: Market Line
Date: November 17, 2017

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This is Bob Larson with the Market Line Report for Friday, November 17th The cattle market continues a downward trend. From the floor of the CME in Chicago, here’s Joe Vaclavik ...

Joe Vaclavik ... “Live cattle market was mostly lower here on Thursday and has generally trended lower since topping out earlier this month. You know, the cash market has been here. I think we’ve seen short-term tops in the cash cattle market and also in the boxed beef market. We saw cash cattle trade up, I think as high as $125 at one point during the past couple of weeks. We’ve now reverted back to that $119-$120 level. The boxed beef market, after a nice run up into the $210-$220 range in choice boxes has reverted back a little bit lower. So, I think we found some short-term tops in both of those markets.”

Chicago Dec Wheat prices closed yesterday up 1 ½ at 421 ½

December corn was dn 1 ¾ at 336 ¾

Portland prices for soft white wheat of Ordinary Protein for November ended the day up 1 ½ ranging from 5-19 ½ to 5-35 Hard Red Winter wheat with 11 ½ % protein, prices for November were dn ¾ ranging from 5-72 to 5-82 DNS wheat with 14 % protein, prices for November were up 5 ½ ranging from 7-50 ¼ to 7-60 ¼

Live Cattle for December were dn $.65 at 119.60 November Feeder cattle are dn $.22 ½ to 157.75 November Class III milk was dn .04 cents at 16.80

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