Marketline Report for Monday, December 31st

Marketline Report for Monday, December 31st

Bob Larson
Bob Larson
This is Bob Larson with the Market Line Report for Monday, Dec 31st. A White Christmas comes a few days late for cattle traders on Friday. From the floor of the CME in Chicago, here's Virginia McGathey.

McGATHEY ... "Today in the cattle market it was much higher. That snow storm is just driving prices up. The channel continues to be to the upside and kind of a surprise over the last number of sessions that the live cattle and the beef prices have been just moving higher. The ice and the snow storm was spread all the way across the beef production area and it's bringing in active buyers and it looks like it could last a little bit longer-term than we expected and I think that what's happened is this snow storm came at a time that we haven't been prepared. We haven't seen any real snow storms to effect these markets and now they kind of just popped up at a time we weren't expecting so we got a little bit of a jump in the market, but weather issues coming in even this week and expected next week is driving the market higher."

Chicago March Wheat prices closed yesterday up 1 at 511 ¼

March Corn was up 1 at 375

Portland prices for soft white wheat of Ordinary Protein for Dec ended the day unch ranging from 6-15 to 6-30 Hard Red Winter wheat with 11 ½ % protein, prices for Dec were up 1 ranging from 6-41 to 6-56 DNS wheat with 14 % protein, prices for Dec were dn 1 ¾ ranging from 6-45 ½ to 6-55 ½

Live Cattle for Dec were up $1.15 at 124.20 Jan Feeder cattle are up $.07 ½ to 149.25 Dec Class III milk was dn .02 cents at 13.82

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