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Bob Larson Marketline Report for Wednesday, June 27th
by Bob Larson, click here for bio

Program: Market Line
Date: June 27, 2018

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This is Bob Larson with the Market Line Report for Wednesday, June 27th. A mixed bag of trading on the cattle market Tuesday. From the floor of the CME in Chicago, here's Virginia McGathey.

MGATHEY ... "Cattle was lower. The largest supplies are still weighing on futures and that’s going to effect the physical prices. The recent high in beef also encouraged a little bit of selling and that’s really pressured the market a little bit lower. Overall, if you look over the last number of months. We’re still in this medium channel. We’ve been lower, a number of months ago, but we’re actually not there yet even though we’re a little bit lower today. We just have to watch it very closely. There has been a little bit of pressure on the market, but good news to look at in the beef prices is that the feeder cattle was up today. So, we have it as mixed really because we’ve traded on the upside and the downside. But, there is that bearish on-feed report really pressured the market a lot, but demand is expected to improve.”

Chicago July Wheat prices closed yesterday dn 7 ¼ at 471

July Corn was up 2 at 352

Portland prices for soft white wheat of Ordinary Protein for June ended the day unch ranging from 5-90 to 6-00 Hard Red Winter wheat with 11 ½ % protein, prices for June were dn 11 ¾ ranging from 5-83 to 6-08 DNS wheat with 14 % protein, prices for June were dn 12 ranging from 6-62 ½ to 6-82 ½

Live Cattle for June were dn $.05 at 105.90 Aug Feeder cattle are up $.32 ½ to 145.90 June Class III milk was dn .01 cents at 15.22

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