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Bob Larson Marketline Report for Wednesday, Auguust 8th
by Bob Larson, click here for bio

Program: Market Line
Date: August 08, 2018

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This is Bob Larson with the Market Line Report for Wednesday, Aug 8th. Demand remains high in the cattle market. From the floor of the CME in Chicago, here's Terry Roggensack.

ROGGENSACK ... "First factor for the cattle market is that beef prices this year, at this time of the year, are about the same as we were a year ago and two years ago and this is really the sign of the strong demand because of the fact that the production this year is much higher than last year and very much higher than two years ago. The problem is that seasonally we’re entering a period of very weak demand as we work our way down over the near term last year and the year before. So, to expect beef prices to rally from here is a bit of a stretch.”

Chicago Sept Wheat prices closed yesterday dn 6 ¼ at 568 ¼

Sept Corn was dn ¼ at 371

Portland prices for soft white wheat of Ordinary Protein for Aug ended the day unch ranging from 6-06 to 6-15 Hard Red Winter wheat with 11 ½ % protein, prices for Aug were dn 6 ½ ranging from 6-84 ½ to 7-04 ½ DNS wheat with 14 % protein, prices for Aug were dn ½ ranging from 7-17 ¾ to 7-27 ¾

Live Cattle for Aug were dn $.32 ½ at 110.05 Aug Feeder cattle are dn $2.00 to 149.80 Aug Class III milk was up .01 cents at 14.83

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