Marketline Report for Friday, June 1st
This is Bob Larson with the Market Line Report for Friday, June 1st. The cattle market slows a little Thursday after making gains the day before. From the floor of the CME in Chicago, here's Larry Shover.
SHOVER ... "With May 31st livestock commentary focusing on August live cattle. Well, yesterday's limit up move fizzled out today. We reached a high yesterday of $104.45 on fresh trade war news and the huge chart resistance ban of $104.20 to $108.25. In the late going, August contract down $2.00 at $102.40 freeing five-day gains to only 1.15% and still holding on to a almost 7% year-to-date loss in the contract."
Chicago July Wheat prices closed yesterday up 4 ¼ at 524 ¾
July Corn was up ½ at 393 ½
Portland prices for soft white wheat of Ordinary Protein for May ended the day unch ranging from 5-80 to 5-95 Hard Red Winter wheat with 11 ½ % protein, prices for May were up 1 ¾ ranging from 6-67 ½ to 6-92 ½ DNS wheat with 14 % protein, prices for May were up ½ ranging from 7-57 to 7-72
Live Cattle for June were dn $1.07 ½ at 105.10 Aug Feeder cattle are dn $1.15 to 147.40 June Class III milk was dn $.09 cents at 15.57
