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Bob Larson Marketline Report for Wednesday, March 14th.
by Bob Larson, click here for bio

Program: Market Line
Date: March 14, 2018

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This is Bob Larson with the Market Line Report for Wednesday, March 14th. The cattle market makes modest moves on Tuesday. From the floor of the CME in Chicago, here's Joe Vaclavik.

VACLAVIK ... "The live cattle market traded both sides of unchanged here on Tuesday. Kind of a range about, back and forth trade here so far this week, really not a whole lot of direction. The cash cattle market has been strong. We’ve got a positive basis and it looks as if that situation will remain intact here this week. As a matter of fact, it was rumored that we saw some light sales in the $126 to $127 range here on Tuesday which would leave us with a basis positive to the tune of $4 or $5 dollars depending on the cash price. So, that’s the situation that we’ve been dealing with now for two or three weeks since February futures went off the board, something that hasn’t changed. We’ll see what develops in the cash market later this week."

Chicago March Wheat prices closed yesterday dn 4 ¼ at 493

March corn was up 1 ¼ at 387 ¾

Portland prices for soft white wheat of Ordinary Protein for March ended the day unch ranging from 5-40 to 5-64 Hard Red Winter wheat with 11 ½ % protein, prices for March were dn 7 ranging from 6-50 ¼ to 6-75 ¼ DNS wheat with 14 % protein, prices for March were up 1 ranging from 7-40 ½ to 7-60 ½

Live Cattle for April were up $.35 at 122.20 March Feeder cattle are dn $.62 ½ to 141.80 March Class III milk was up $.04 cents at 14.22

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