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Bob Larson Marketline Report for Tuesday, June 11th
by Bob Larson, click here for bio

Program: Market Line
Date: June 11, 2019

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This is Bob Larson with the Market Line Report for Tuesday, June 11th. The Mexican trade deal gives live cattle a boost in Monday trading. From the floor of the CME in Chicago, here’s Virginia McGathey.

McGATHEY … “Today in the livestock market, cattle was much higher. The trade deal definitely boosted the futures and really gave it a shot. I think the tensions are relieved and giving futures just what they needed, that shot in the arm. The market support showed up with a vengeance and pushed it much higher. And, right before the end of the day we did get some limit moves. We could very well see an expanded limits tomorrow, but that just tells us we’re going to rock and roll. We know that the live cattle and even the feeders have all been oversold and been kind of sitting on the down side for a while. We’re looking for something to give it some direction and I think that we got it today or certainly over the weekend with the trade deal.”

Chicago July Wheat prices closed yesterday up 3 at 507

July Corn was unch at 416

Portland prices for soft white wheat of Ordinary Protein for Jun ended the day unch ranging from 5-75 to 6-07 Hard Red Winter wheat with 11 ½ % protein, prices for Jun were up 4 ranging from 6-23 to 6-28 DNS wheat with 14 % protein, prices for Jun were dn ¼ ranging from 6-48 ½ to 6-58 ½

Live Cattle for Jun were up $2.77 ½ at 109.50 Aug Feeder cattle are up $2.57 ½ to 139.40 Jun Class III milk was up .05 cents at 16.31

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