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Bob Larson Marketline Report for Friday, December 15th
by Bob Larson, click here for bio

Program: Market Line
Date: December 15, 2017

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This is Bob Larson with the Market Line Report for Friday, December 15th. Cattle trading is up a bit, but remains flat overall. From the floor of the CME in Chicago, here’s Joe Vaclavik …

Joe Vaclavik ... “You’ve got to remember that overall the market has been very weak in eight out of the last ten trading sessions including today. So, we’ve generally trended lower as of late and maybe that’s a precursor, perhaps, to a lower cash trade later this week. We’ll see what develops. There’s been some evidence that funds have begun to liquidate what has been a pretty excessive, not excessive but a historically large long position. Funds have been comfortably long in the cattle market for many, many months. Some of the open interest statistics now suggesting that we’re seeing some liquidation which is to be expected I suppose I guess on a sell-off of this magnitude what we’ve seen here recently. So, it will be interesting to see what the funds do in terms of money flow between now and years end.”

Chicago Dec Wheat prices closed yesterday up 2 ¾ at 387 ¼

December corn was dn ½ at 337 ¼

Portland prices for soft white wheat of Ordinary Protein for December ended the day up 4 ranging from 5-11 to 5-30 Hard Red Winter wheat with 11 ½ % protein, prices for December were up 2 ranging from 5-63 ¼ to 5-78 ¼ DNS wheat with 14 % protein, prices for December were up 4 ½ ranging from 7-37 to 7-42

Live Cattle for December were up $.62 ½ at 116.30 January Feeder cattle are up $.60 to 146.10 December Class III milk was dn .09 cents at 15.52

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