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Bob Larson Marketline Report for Wednesday, April 18th
by Bob Larson, click here for bio

Program: Market Line
Date: April 18, 2018

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This is Bob Larson with the Market Line Report for Wednesday, April 18th. The cattle market shows some strength on Tuesday. From the floor of the CME in Chicago, here's Joe Vaclavik.

VACLAVIK ... "The live cattle market was mostly higher here, mixed to higher trade here on Tuesday. You know, we had a very strong cash cattle trade late last week. We traded cash after the futures closed on Friday as high as $122, and that would have been up from $117-$118 the previous week so we did find the futures market opening sharply higher on Monday. Kind of a poor close on Monday, but we found some strength here again on Tuesday. Now, the rally attempts, if you want to call them that, have not been able to sustain as well as the bulls would like. We’d like to see some follow-through buying amid this better cash trade, but for the moment here the market may not performing as well as some people would have liked."

Chicago May Wheat prices closed yesterday up 4 at 466 ¼

May Corn was dn 2 ¼ at 380 ¼

Portland prices for soft white wheat of Ordinary Protein for May ended the day up 3 ¾ ranging from 5-82 to 5-90. Hard Red Winter wheat with 11 ½ % protein, prices for April were up 2 ½ ranging from 6-25 ½ to 6-40 ½ DNS wheat with 14 % protein, prices for April were up 5 ¾ ranging from 7-47 ½ to 7-72 ½

Live Cattle for April were up $.90 at 118.05 April Feeder cattle are dn $.50 to 138.52 ½ April Class III milk was up $.06 cents at 14.48

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