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Bob Larson Marketline Report for Friday, November 24th
by Bob Larson, click here for bio

Program: Market Line
Date: November 24, 2017

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This is Bob Larson with the Market Line Report for Friday, November 23rd. Well, no trading on the Thanksgiving holiday, so here’s Virginia McGathey from the floor of the CME in Chicago with details from Wednesday….

McGathey … “Cattle was up. The futures really advanced on technical buying. The traders are really comfortable with that $123 support level as we had come off our recent highs. And, the market looks like its really strong heading into the Thanksgiving weekend and its offering some relief from that big sell-off after that on-feed report last week. Now, what’s helping that as well, is the feeder cattle market. So, that follow through buying gave futures a big lift and that means that right now the cattle buying in the north continues to pay higher for the cattle. And, even though supplies are pretty plentiful, it looks like the market is still kind of on the move on the upside.”

Chicago Dec Wheat prices closed yesterday dn 2 at 423

December corn was up ¼ at 344 ½

Portland prices for soft white wheat of Ordinary Protein for November ended the day up ¾ ranging from 5-17 ¾ to 5-35 Hard Red Winter wheat with 11 ½ % protein, prices for November were up ¾ ranging from 5-76 to 5-86 DNS wheat with 14 % protein, prices for November were dn ¼ ranging from 7-46 ¾ to 7-56 ¾

Live Cattle for December were up $1.07 ½ at 119.20 January Feeder cattle are up $1.10 to 152.70 November Class III milk was dn .02 cents at 16.80

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