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Bob Larson Marketline Report for Monday, January 7th
by Bob Larson, click here for bio

Program: Market Line
Date: January 07, 2019

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This is Bob Larson with the Market Line Report for Monday, Jan 7th. The Bulls fail to show sending live cattle down on Friday. From the floor of the CME in Chicago, here’s Scott Shellady.

SHELLADY … “Unfortunately, livestock today, across the board, is down a little bit. We’ve got the live cattle off over 1%, down a buck-forty’ish as we go to tape here. It seems to be a little bit of negativity. We just don’t have a reason for the bulls to get involved. The older traders will tell you, you need to feed the bull every day to keep it coming home so right not it’s a bit quiet. The bulls haven’t shown up and we’ve seen things kind of trickle lower, but you take a step back and look at that chart from the 2015-ish highs to the 2016 or the lows recent we’ve had. A buck-forty is kind of right in the middle, right? So, we’re starting to make a move towards that level and I think that you might want to kind of keep an eye on maybe taking some protection.”

Chicago March Wheat prices closed yesterday up 3 ¼ at 516

March Corn was up 3 ¼ at 382 ¾

Portland prices for soft white wheat of Ordinary Protein for Jan ended the day unch ranging from 6-15 to 6-35 Hard Red Winter wheat with 11 ½ % protein, prices for Jan were up 2 ½ ranging from 6-56 to 6-66 DNS wheat with 14 % protein, prices for Jan were up 5 ranging from 6-65 ¼ to 6-75 ¼

Live Cattle for Feb were dn $1.30 at 121.90 Jan Feeder cattle are dn $1.62 ½ to 144.82 ½ Jan Class III milk was dn .07 cents at 14.25

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