Marketline Report for Monday, September 3rd
This is Bob Larson with the Market Line Report for Monday, Sept 3rd. The cattle market ends the trading week on a down note. The market was closed on Monday for Labor Day, but with Friday's close From the floor of the CME in Chicago, here's Terry Roggensack.
ROGGENSACK ... "Exceptional demand is clashing with the big supply short-term for the market. Beef sales, so far, export sales so far for 2018, coming in at 691,000 tons. That's up 17.5% from last year's pace cumulative so far this year. Second factor would be that the USDA indicating production from the fourth quarter to the first quarter of 2019 expected to be down 550-million pounds, would be the second biggest on record and our records go back pretty far."
Chicago Sept Wheat prices closed yesterday up 10 ½ at 519
Sept Corn was up 10 at 352
Portland prices for soft white wheat of Ordinary Protein for Sept ended the day dn 10 ranging from 5-90 to 6-12 Hard Red Winter wheat with 11 ½ % protein, prices for Sept were up 10 ¾ ranging from 6-23 to 6-33 DNS wheat with 14 % protein, prices for Sept were up 21 ½ ranging from 6-68 ¾ to 6-83 ¾
Live Cattle for Aug were dn $3.00 at 106.80 Sept Feeder cattle are dn $.72 ½ to 149.45 Sept Class III milk was up .13 cents at 16.51
