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Bob Larson Marketline Report for Monday, June 18th
by Bob Larson, click here for bio

Program: Market Line
Date: June 18, 2018

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This is Bob Larson with the Market Line Report for Monday, June 18th. The Cattle Market wasn’t over the moon, but it WAS up on Friday. From the floor of the CME in Chicago, here's Virginia McGathey.

McGATHEY ... "Today, the cattle snapped back. It seemed that the feed yards were asking higher prices for physical trade and while everyone was waiting it started to build a little momentum. We went limit up. This is the first time in quite a while and here at the end of the week looks really good. The futures really rallied off their lows, $4 right out of the box and really started to gain some momentum and some follow-thru buying came in and the market is still, like, moving. The traders were waiting for that trade to develop and it certainly did. Now, we’re ahead of the Father’s Day weekend, there is expectations that wholesale demand is going to have a little bit of an uptick next week. So, with that in mind everyone’s jumping on board.”

Chicago July Wheat prices closed yesterday dn 2 at 499 ¾

July Corn was dn 1 ¾ at 362 ½

Portland prices for soft white wheat of Ordinary Protein for June ended the day unch ranging from 5-90 to 6-18 Hard Red Winter wheat with 11 ½ % protein, prices for June were dn 2 ½ ranging from 6-44 ¾ to 6-69 ¾ DNS wheat with 14 % protein, prices for June were dn 6 ¾ ranging from 7-05 ¾ to 7-20 ¾

Live Cattle for June were up $2.20 at 108.60 Aug Feeder cattle are up $4.30 to 147.95 June Class III milk was dn .01 cents at 15.36

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