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Bob Larson Marketline Report for Thursday, July 11th
by Bob Larson, click here for bio

Program: Market Line
Date: July 11, 2019

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This is Bob Larson with the Market Line Report for Thursday, July 11th. Cattle holds fairly steady while questions linger in Wednesday trading. From the floor of the CME in Chicago, here's Virginia McGathey.

McGATHEY ... "Cattle was easier. Cash prices are just not clearly defined yet and the futures breakout was a little bit short-lived as the boxed beef values declined and demand is really slowing. That being said, we're still in that area kind of above some of those big resistance indicators and it's very possible that this is just a slight pull back and we might start to work up again. And, I say that because today in the feeders, they slipped as well but they're just, in the feeders it looks more like a slight correction. And so, if the feeders are really leading the beef complex then that should give us a little bit of tell on the live cattle side."

Chicago July Wheat prices closed yesterday up 2 at 508

July Corn was up 2 ½ at 432 ½

Portland prices for soft white wheat of Ordinary Protein for July ended the day unch ranging from 5-75 to 6-13 Hard Red Winter wheat with 11 ½ % protein, prices for July were up 12 ¼ ranging from 5-66 ½ to 5-76 ½ DNS wheat with 14 % protein, prices for July were up 2 ¼ ranging from 6-03 ¾ to 6-13 ¾

Live Cattle for Aug were dn $.50 at 107.62 ½ Aug Feeder cattle are dn $.52 ½ to 142.65 July Class III milk was dn .01 cents at 17.37

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