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Bob Larson Marketline Report for Thursday, June 21st
by Bob Larson, click here for bio

Program: Market Line
Date: June 21, 2018

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This is Bob Larson with the Market Line Report for Thursday, June 21st. Uncertainty among cattle traders wondering about trade war potential. From the floor of the CME in Chicago, here's Terry Roggensack.

ROGGENSACK ... "Couple of factors in the cattle market which make us uneasy about the current price level, cattle on feed report on Friday expected to show June 1st feed lot supply at 3.4% above last year. That’s going to leave plenty of beef around into the duller demand period into the Summer. August cattle afre sitting at the highest level since March 20th, but beef prices have pushed down to the lowest level since April 25th. That’s going to keep the cash trend lower as we look forward and could pull that August cattle down.”

Chicago July Wheat prices closed yesterday up 10 ¼ at 489 ¼

July Corn was up ½ at 354

Portland prices for soft white wheat of Ordinary Protein for June ended the day unch ranging from 5-85 to 5-90 Hard Red Winter wheat with 11 ½ % protein, prices for June were up 5 ¾ ranging from 6-13 ¾ to 6-38 ¾ DNS wheat with 14 % protein, prices for June were up 3 ¼ ranging from 6-87 ¾ to 7-02 ¾

Live Cattle for June were up $.50 at 109.25 Aug Feeder cattle are dn $.20 to 149.67 ½ June Class III milk was dn .06 cents at 15.26

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