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Bob Larson Marketline Report for Monday, February 5th
by Bob Larson, click here for bio

Program: Market Line
Date: February 05, 2018

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This is Bob Larson with the Market Line Report for Monday, February 5th. Cattle trading slows, but still up on Friday. From the floor of the CME in Chicago, here’s Virginia McGathey …

McGATHEY ... “It seems that beef prices were strong all week and the futures really then hung on to the almost limit movement, but certainly we hung on to our gains and the market looked pretty strong. Feeders were more high today. They were higher still and the report yesterday that there was a smaller supply of feeders that really surprised everybody and that was driving the market higher. Now, the follow-through buying really came in again today and at the end of the week it’s kind of a surprise because normally the market normally would level off a little bit. This tells me that there is a little bit more momentum in the optimism and perhaps next week we can see a stronger market as well.”

Chicago March Wheat prices closed yesterday dn 4 ¼ at 447

March corn was dn ¼ at 361

Portland prices for soft white wheat of Ordinary Protein for February ended the day unch ranging from 5-30 to 5-44 Hard Red Winter wheat with 11 ½ % protein, prices for February were dn 3 ¾ ranging from 6-08 ¼ to 6-28 ¼ DNS wheat with 14 % protein, prices for February were dn 8 ranging from 7-18 ¾ to 7-43 ¾

Live Cattle for February were up $.42 ½ at 126.72 ½ March Feeder cattle are up $1.37 ½ to 151.10 February Class III milk was up .07 cents at 13.61

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