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Bob Larson Marketline Report for Tuesday, April 24th
by Bob Larson, click here for bio

Program: Market Line
Date: April 24, 2018

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This is Bob Larson with the Market Line Report for Tuesday, April 24th. The cattle market gains some ground in the wake of Friday’s USDA report. From the floor of the CME in Chicago, here's Virginia McGathey.

McGATHEY ... "Today, cattle was higher, sharply higher actually. The beef prices are really starting to strengthen that futures market. Finally, we got some good news. The Cattle On Feed Report on Friday as well as some of the supplies told us that the cutouts are very, very strong and it’s possibly looking that we’re going to have a prolonged upturn in the market. So, finally we’re really getting some serious value. Feeders were also on the rise. They were looking ahead because possibly we’re going to get that new NAFTA deal. If that happens, that’s going to help the beef products and the feeders and the live cattle market as well."

Chicago May Wheat prices closed yesterday dn 1 ¾ at 462 ¼

May Corn was up 2 at 378 ½

Portland prices for soft white wheat of Ordinary Protein for May ended the day up 3 ¼ ranging from 5-71 ½ to 5-90 Hard Red Winter wheat with 11 ½ % protein, prices for April were up ½ ranging from 6-28 ¼ to 6-43 ¼ DNS wheat with 14 % protein, prices for April were dn 12 ranging from 7-23 to 7-48

Live Cattle for April were up $2.37 ½ at 121.50 April Feeder cattle are up $1.72 ½ to 139.05 April Class III milk was up .01 cents at 14.52

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