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Bob Larson Marketline Report for Wednesday, August 15th
by Bob Larson, click here for bio

Program: Market Line
Date: August 15, 2018

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This is Bob Larson with the Market Line Report for Wednesday, Aug 15th. Prices and demand give cattle trade a boost on Tuesday. From the floor of the CME in Chicago, here's Virginia McGathey.

McGathey ... "Those beef cutoff prices and the demand were a little bit higher today and they gave the market somewhat of a lift. But, the lackluster trading and the cattle around makes it really difficult to find its footing. We’re not really sure exactly which way to go and I think that the expectations that the markets going to be moving a little bit sideways because of it. So, we need to wait for a little more news to kind of give us some direction in which way its going. But, I think that at this point right now it seems to be a positive that its holding on because the feeders slipped so that’s kind of giving it a different direction. That just lets you know that we’re not really sure which way to go, but the traders are looking for something to trade against that will give us somewhat of a lift.”

Chicago Sept Wheat prices closed yesterday up 8 ¼ at 541 ¼

Sept Corn was up 5 ¾ at 362

Portland prices for soft white wheat of Ordinary Protein for Sept ended the day up 2 ranging from 6-15 to 6-18 Hard Red Winter wheat with 11 ½ % protein, prices for Sept were up 5 ranging from 6-45 ¾ to 6-55 ¾ DNS wheat with 14 % protein, prices for Sept were up 3 ½ ranging from 6-81 ¼ to 6-96 ¼

Live Cattle for Aug were up $.77 ½ at 108.02 ½ Aug Feeder cattle are up $.27 ½ to 148.85 Aug Class III milk was up .01 cents at 15.03

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