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Bob Larson Marketline Report for Tuesday, July 17th
by Bob Larson, click here for bio

Program: Market Line
Date: July 17, 2018

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This is Bob Larson with the Market Line Report for Tuesday, July 17th. The cattle market gained momentum Monday. From the floor of the CME in Chicago, here's Virginia McGathey.

McGATHEY ... "Cattle was rising. It started to build some momentum with the better than expected cash trade that really ended on Friday, gave the market a boost today. Interestingly enough, it was building momentum all day and really did hit limit up. One of the reasons the markets are moving as strong as they are is because they are very thin. Many traders have moved to the sidelines and opened the doors to a lot of volatility. The meatpackers did pay lower than last week, but it’s still higher overall and it helps to create that momentum and got that market rolling. And, it really hit limit up before the feeders did, but the feeders were also firm. Those meat packers were actually lowering their bids, but the market still started to drive it a little bit higher.”

Chicago Sept Wheat prices closed yesterday dn 8 ¼ at 488 ¼

Sept Corn was up ½ at 341 ¾

Portland prices for soft white wheat of Ordinary Protein for July ended the day dn 5 ranging from 5-80 to 6-08 Hard Red Winter wheat with 11 ½ % protein, prices for July were dn 7 ¼ ranging from 6-04 ½ to 6-14 ½ DNS wheat with 14 % protein, prices for July were dn 3 ½ ranging from 6-23 ¼ to 6-43 ¼

Live Cattle for Aug were up $2.37 ½ at 107.50 Aug Feeder cattle are up $1.65 to 152.82 ½ July Class III milk was dn .01 cents at 14.26

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