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Bob Larson Marketline Report for Thursday, October 18th
by Bob Larson, click here for bio

Program: Market Line
Date: October 18, 2018

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This is Bob Larson with the Market Line Report for Thursday, Oct 18th. Cattle trades both sides of unchanged on Wednesday. From the floor of the CME in Chicago, here’s Virginia McGathey.

McGATHEY … “Cattle was mixed. The beef exports are up so you thought there would be a little bit of firmness in there, but the cash cattle trade is very slow. Beef prices are sagging somewhat and that’s kind of putting some pressure on the market. There is some short-covering and that’s adding to some of the support and that’s why we got a little bit of a mixed bag today and we’ve been waiting for some trade coming in at the end of this week so we’re going to see if any kind of numbers come in that would give us a little bit of direction so we’re hoping for that. Interestingly enough, feeders were kind of weak today and I wonder if that’s where we’re going. And, their trend is still lower and it has been lower for the past couple of weeks and it kind of diverged from the live cattle contract and it has a lot of traders concerned.”

Chicago Dec Wheat prices closed yesterday dn 6 at 516 ½

Dec Corn was dn 1 at 373 ¾

Portland prices for soft white wheat of Ordinary Protein for Oct ended the day unch ranging from 6-00 to 6-25 Hard Red Winter wheat with 11 ½ % protein, prices for Oct were dn 7 ranging from 6-31 to 6-51 DNS wheat with 14 % protein, prices for Oct were dn 8 ranging from 6-73 ¼ to 6-83 ¼

Live Cattle for Oct were up $.27 ½ at 113.00 Oct Feeder cattle are up $.05 to 154.30 Oct Class III milk was dn .06 cents at 15.56

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