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Bob Larson Marketline Report for Tuesday, June 12th
by Bob Larson, click here for bio

Program: Market Line
Date: June 12, 2018

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This is Bob Larson with the Market Line Report for Tuesday, June 12th. The cattle market is a bit of a roller coaster on Monday. From the floor of the CME in Chicago, here's Virginia McGathey.

McGATHEY ... "Today, the cattle was higher. The market started really well. There’s been early summer beef demand that really pushed the market higher. Up until the very end, a lot of profit-taking coming and really pushed the market lower. Interestingly enough, there has been a steady climb over the last couple of weeks. The market really looked strong. It was making progress even technically though we’ve crossed over the 100-day moving average. There’s been some follow-through buying really pushing it up, but I guess we got to a point where a few of the traders were taking some profits off the table and kind of sending the market a little bit lower. Perhaps the grain report that’s coming tomorrow might be a little bit of a tell.”

Chicago July Wheat prices closed yesterday dn 5 ½ at 514 ¾

July Corn was dn 10 ½ at 367

Portland prices for soft white wheat of Ordinary Protein for June ended the day unch ranging from 5-90 to 6-05 Hard Red Winter wheat with 11 ½ % protein, prices for June were dn 3 ½ ranging from 6-59 ¾ to 6-84 ¾ DNS wheat with 14 % protein, prices for June were dn 2 ¾ ranging from 7-24 ¾ to 7-39 ¾

Live Cattle for June were dn $1.37 ½ at 108.57 ½ Aug Feeder cattle are dn $1.32 ½ to 145.95 June Class III milk was dn $.04 cents at 15.43

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