Marketline Report for Wednesday, January 3rd
This is Bob Larson with the Market Line Report for Wednesday, January 3rd. 2018 starts off on a good note for cattle traders. From the floor of the CME in Chicago, here's Joe Vaclavik ...
Joe Vaclavik ... "The live cattle market was sharply higher here on Tuesday following the long weekend, so a nice start to the new calendar year. We traded some cash cattle on Friday at $123 in most areas which was, I suppose, seen as being positive. So, we had a nice positive reaction here to start off the new week. The boxed beef market also rebounded a little bit. We've got choice boxes back well above that $200 mark after bottoming, I think, in the upper $190s a couple of weeks ago. So, the demands been good and we're hoping that we can keep those choice boxes above $200 and maybe even take a shot at that $210 area. I believe the choice boxes did get up into the $215-$216 area several weeks ago."
Chicago March Wheat prices closed yesterday up 6 ½ at 434 ¼
March corn was up 2 ½ at 353 ¼
Portland prices for soft white wheat of Ordinary Protein for January ended the day unch ranging from 5-25 to 5-30 Hard Red Winter wheat with 11 ½ % protein, prices for January were up 7 ½ ranging from 5-79 ¾ to 5-89 ¾ DNS wheat with 14 % protein, prices for January were up 3 ¼ ranging from 7-33 to 7-53
Live Cattle for February were up $1.80 at 123.40 January Feeder cattle are up $3.52 ½ to 149.75 January Class III milk was dn .05 cents at 14.03
