Marketline Report for Monday, February 26th
This is Bob Larson with the Market Line Report for Monday, February 26th. The Cattle market is mixed on Friday. From the floor of the CME in Chicago, here's Larry Shover ...
SHOVER ... "Unbelievable to think that we're 2% from the low, recent low made on January 26th and we're only 2% from the high made just a couple of days ago, a high of about $128. Right now, wholesale prices made a reversal. Yesterday, we saw choice up a dollar and select also down .14 cents and that's made a slight reversal today, putting a lid on the market being front-month is down about .50 cents on the day. Cash prices still are down about $128 to $128.50, about $2 away from where they were even last week, but amazing to think that cattle have remained pretty robust given cash prices are down."
Chicago March Wheat prices closed yesterday up 1 at 452
March corn was dn ½ at 366 ¼
Portland prices for soft white wheat of Ordinary Protein for February ended the day unch ranging from 5-30 to 5-62 Hard Red Winter wheat with 11 ½ % protein, prices for February were dn 1 ¾ ranging from 6-14 to 6-39 DNS wheat with 14 % protein, prices for February were dn 2 ¼ ranging from 7-15 ¾ to 7-30 ¾
Live Cattle for February were dn $.35 at 128.12 ½ April Feeder cattle are up $.42 ½ to 148.67 ½ February Class III milk was dn $.04 cents at 13.42
