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Bob Larson Marketline Report for Thursday, February 15th.
by Bob Larson, click here for bio

Program: Market Line
Date: February 15, 2018

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This is Bob Larson with the Market Line Report for Thursday, February 15th. Sweetheart news from the cattle market on Valentine’s Day. From the floor of the CME in Chicago, here’s McGathey ...

McGATHEY ... “Today, cattle was climbing. It seems that the futures are really staying strong ahead of that federal cattle exchange auction today. Experts are saying that they expect that higher prices and that they will definitely emerge from the tighter supply. And, it looks like if demand gets a little bit of a bump because that U.S. dollar index was down so dramatically, we could really be off to the races and start to work towards that number, that $127 number, that we topped out at a few sessions ago. If we start to get through there then we’re going to be really above the resistance area, and if we get some follow-through buying, I think the market could build a head of steam.”

Chicago March Wheat prices closed yesterday dn 5 at 454 ¾

March corn was up ½ at 366 ¾

Portland prices for soft white wheat of Ordinary Protein for February ended the day unch ranging from 5-30 to 5-52 Hard Red Winter wheat with 11 ½ % protein, prices for February were dn 4 ¾ ranging from 6-14 ¾ to 6-39 ¾ DNS wheat with 14 % protein, prices for February were dn 1 ½ ranging from 7-15 ¼ to 7-30 ¼

Live Cattle for February were up $.82 ½ at 127.80 March Feeder cattle are up $.90 to 148.35 February Class III milk was up $.01 cents at 13.48

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