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Bob Larson Marketline Report for Friday, May 4th
by Bob Larson, click here for bio

Program: Market Line
Date: May 04, 2018

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This is Bob Larson with the Market Line Report for Friday, May 4th. Prices jump in cattle trading Thursday. From the floor of the CME in Chicago, here's Joe Vaclavik.

VACLAVIK ... "The live cattle market traded sharply higher here on Thursday amid a very strong cash trade. Cash cattle traded $126 in both Kansas and Texas. That would be above the $124 that was posted earlier this week and last week I believe and that was kind of against the idea that a lot of people had gone with. A lot of people expected a lower cash trade this week so kind of surprising in that helped to propel the futures higher. The boxed beef market has also acted really well. We saw kind of a V-bottom in the beef market on April 20th and they’ve done nothing but shoot higher since then. So, some strong demand propelling both the choice and select boxes higher here recently and that’s kind of helped to support futures as well here, at least on a day like today."

Chicago May Wheat prices closed yesterday up 14 ¾ at 540

May Corn was up 3 ½ at 399 ¼

Portland prices for soft white wheat of Ordinary Protein for May ended the day up 11 ¼ ranging from 5-91 to 6-08 ¼ Hard Red Winter wheat with 11 ½ % protein, prices for May were up 12 ½ ranging from 6-93 ¾ to 7-08 ¾ DNS wheat with 14 % protein, prices for May were dn 4 ¾ ranging from 7-66 to 7-96

Live Cattle for June were up $1.67 ½ at 106.42 ½ May Feeder cattle are up $2.17 ½ to 140.55 May Class III milk was dn .10 cents at 15.13

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