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Bob Larson Marketline Report for Tuesday, January 16th
by Bob Larson, click here for bio

Program: Market Line
Date: January 16, 2018

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This is Bob Larson with the Market Line Report for Tuesday, January 16th. No trading on the MLK Holiday, but with Friday’s livestock results … From the floor of the CME in Chicago, here’s Virginia McGathey …

Virginia McGathey ... “Cattle today was a mixed bag somewhat. The market was, really had no fundamental news to give it any direction. It’s really holding the futures to kind of a standstill. Last week’s sell-off really found the market falling off the edge and it didn’t bring in a new wave of selling. And, so the market has been kind of treading water for the last couple of days. Seasonally, this is a time where we would normally expect the market to rally or get a little bit more demand. That kind of hasn’t come yet, but the U.S. dollar index dropping is offering a little bit of help and a little bit of support in the market.”

Chicago March Wheat prices closed yesterday dn 12 ¾ at 420 ½

March corn was dn 2 ½ at 347 ¼

Portland prices for soft white wheat of Ordinary Protein for January ended the day dn 6 ½ ranging from 5-20 ½ to 5-33 Hard Red Winter wheat with 11 ½ % protein, prices for January were dn 14 ranging from 5-71 ¼ to 5-86 ¼ DNS wheat with 14 % protein, prices for January were dn 16 ¼ ranging from 7-27 ¾ to 7-47 ¾

Live Cattle for February were up $.30 at 117.50 January Feeder cattle are up $.52 ½ to 144.47 ½ January Class III milk was dn .05 cents at 13.75

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