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Bob Larson Marketline Report for Friday, April 27th
by Bob Larson, click here for bio

Program: Market Line
Date: April 27, 2018

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This is Bob Larson with the Market Line Report for Friday, April 27th. Prices continue to climb on the cattle market Wednesday. From the floor of the CME in Chicago, here's Joe Vaclavik.

VACLAVIK ... "The live cattle market traded both sides of unchanged today, kind of a mixed bag. April futures held up and were slightly higher and we saw the market leak lower in some of the deferred contracts for June and August. Contracts trading at a big, big discount to these nearby April futures. Now, the cash markets remain stout here. We’ve still got cash trade above $120 and that’s pretty much on par with where these April futures are. Now, the April futures go off the board on Monday, I believe, and we’re going to be left again with this enormous positive basis, $15, $16, $17 dollars and we’re going to see how this resolves itself. Will the cash market ultimately come down to under $110 down to $105? That’s the big question here moving forward."

Chicago May Wheat prices closed yesterday dn 5 ½ at 480 ½

May Corn was dn ½ at 386

Portland prices for soft white wheat of Ordinary Protein for June ended the day dn 3 ½ ranging from 5-71 ½ to 5-89 Hard Red Winter wheat with 11 ½ % protein, prices for April were dn 5 ¼ ranging from 6-31 ¾ to 6-61 ¾ DNS wheat with 14 % protein, prices for April were unch ranging from 7-34 ½ to 7-74 ½

Live Cattle for April were up $.60 at 122.52 ½ April Feeder cattle are up $.32 ½ to 140.17 ½ April Class III milk was dn .02 cents at 14.51

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