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Bob Larson Marketline Report for Friday, April 20th.
by Bob Larson, click here for bio

Program: Market Line
Date: April 20, 2018

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This is Bob Larson with the Market Line Report for Friday, April 20th. Live cattle take a hit on Thursday trading. From the floor of the CME in Chicago, here's Joe Vaclavik.

VACLAVIK ... "The live cattle market was sharply lower here on Thursday despite a continuation of a strong cash trade. We traded cash cattle again today above $120 and April futures and even the June futures did attempt to rally at one point here today but ended up coming back and finishing the day sharply lower so our wide basis issue continues here. We’ve got a cattle on feed report from USDA on Friday afternoon. The report is largely expected to be bearish with regard to cattle on feed. We’re looking for a 7 or 8 percent year over year increase on cattle on feed. We should see lower placements so it’s going to be kind of a mixed bag with the market certainly looks like, for the moment, is expecting some negative numbers here."

Chicago May Wheat prices closed yesterday up 1 ¼ at 476 ¾

May Corn was dn 1 at 381 ½

Portland prices for soft white wheat of Ordinary Protein for May ended the day dn ¼ ranging from 5-81 ¾ to 5-90 Hard Red Winter wheat with 11 ½ % protein, prices for April were up 6 ½ ranging from 6-40 ¼ to 6-55 ¼ DNS wheat with 14 % protein, prices for April were dn 4 ¾ ranging from 7-48 ¼ to 7-73 ¼

Live Cattle for April were dn $1.17 ½ at 117.70 April Feeder cattle are dn $1.52 ½ to 137.02 ½ April Class III milk was up .02 cents at 14.51

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