Down Down Down Went the Markets Last Week

Down Down Down Went the Markets Last Week

Susan Allen
Susan Allen
Down Down Down went the market lastweek. I’m Susan Allen this is Market Line for Monday let’s check in with annalist Frank Lesh with Fridays closing cattle numbers from the floor of CME

Lesh: “Livestock prices were dramatically lower on the day. We have cattle off 270-300 points in here. For the week we are down about 320-330. So a good portion of that was in Friday’s trade. With the big drop in equity markets we always see livestock, especially cattle sell off when the Dows off, well the Dow was off 1000 points in a little over a week’s time. Cattle weights were up 9lb’s this week and this situation where we add pounds on to make up for lost production and tight supply continues. we’ve been doing this for several years now and will continue until the herds rebuilt .”

 

Chicago September Wheat ended Friday down 6 3/4 at 499. September corn ended the day at 365 ¼ down 5 3/4. Portland prices for soft white wheat of ordinary protein for September down,ranging 5.54 ½ -5. Hard Red Winter wheat with 11 ½% protein, prices for September also down 5.1/4 -10.1/4 Ranging 5.4600-5.8100

DNS wheat with 14% protein, prices for September were down ranging 5.9200-6.2200

August live cattle closed down a buck at 145. September Feeder down $4.50 at 202.32 September class III milk no real change..

 

 

Previous ReportBearish Long Term Outlook for Cattle
Next ReportThe cattle market is still in the red after last week's big drop