Marketline Report for Monday, September 9th
This is Bob Larson with the Market Line Report for Monday, Sep 9th. A rough day on the trading floor in Friday's cattle market. From the floor of the CME in Chicago, here's Virginia McGathey.
McGATHEY ... "Cattle was down hard. That Kansas City beef plant is saying that they're going to extend their time to recover. That made it really difficult. Now, the eyes, right now, are on the hurricane that's working up the Eastern Seaboard. There has been some difficulty about moving any of the cattle in that area and sometimes that kind of curtails a lot of the demand. And, of course, there's a majority of the demand coming out of that area. Feeders also fell hard. There has been some discussion though that the fact that the live cattle market has not been able to fill in that gap since the Tyson fire is a little bit of a tell that this market, the par value for the market is $5 below where it had been for the last six or seven months."
Chicago Sept Wheat prices closed yesterday dn 3 ¾ at 460
Sept Corn was dn 4 at 342
Portland prices for soft white wheat of Ordinary Protein for Sept ended the day unch ranging from 5-70 to 5-77 Hard Red Winter wheat with 11 ½ % protein, prices for Sept were up 9 ½ ranging from 5-23 ¼ to 5-33 ¼ DNS wheat with 14 % protein, prices for Sept were dn 2 ¾ ranging from 5-69 ¼ to 5-74 ¼
Live Cattle for Oct were dn $3.00 at 95.00 Sept Feeder cattle are dn $1.05 to 133.32 ½ Sept Class III milk was up .08 cents at 17.98
