Texas Daily Ag Market News Summary

Posted 254 days ago ago by Administrator Account

Daily Market Summary for May 14th

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Slaughter Cattle:

Thus far Monday, negotiated cash trade was mostly inactive on light demand in all feeding regions. The latest established market was last week with live purchases in the Southern Plains and Nebraska at 122.00. Dressed purchases in Nebraska ranged from 189.00-195.00. In Colorado last week, live purchases traded from 119.00-122.00. In the Western Cornbelt for the previous week, live purchases traded from 118.00-126.00 with dressed purchases ranging from 188.00-193.00.


Negotiated Sales:

Confirmed: 2,993    Week Ago: 2,966    Year Ago: 33


Formula Net - Dressed Steers & Heifers

Head count priced today: 37,800
Weighted avg weight:       832.00
Weighted avg net price:   202.22


Alberta Beef Producers Daily Report:

Alberta direct cattle sales last week saw moderate trade develop with weighted average steer and heifer prices closing the week at 157.75 and 156.00 respectively. Both local and US packer interest in the western Canadian cash market was supportive. Most of the cattle that traded last week were being scheduled for late May/early June delivery. Looking at the non-fed market butcher cows traded steady to 2.00 higher through commercial auction facilities. D1, D2 cows established new annual highs last week.


Livestock Slaughter under Federal Inspection:

                                  CATTLE      CALVES    HOGS      SHEEP
Monday (est           117,000     2,000       459,000    7,000
Week ago (est)       119,000     2,000       449,000    8,000
Year ago (act)         116,000     2,000       440,000    6,000


Boxed Beef: 

Boxed beef cutout values firm to higher on moderate to fairly good demand and moderate to heavy offerings. Select and Choice rib and round cuts steady to weak while chuck and loin cuts steady to firm. Beef trimmings sharply higher on moderate to good demand and moderate offerings.
Cutout Values...            Choice       Select
Current Cutout Values:  232.12       209.12
Change from prior day:    +1.15         +0.43
Choice/Select spread:      23.00


Futures Summary: 


CME Feeder Cattle Index: 136.12… (1.09)
June Live Cattle Futures: 104.62… (3.00)
August Live Cattle Futures: 101.90… (2.52)
October Live Cattle Futures: 105.27… (2.20)
May Feeder Cattle Futures: 135.40… (3.02)
August Feeder Cattle Futures: 140.37… (3.53)
September Feeder Cattle Futures: 140.80… (3.17)
June Hog Futures: 76.15… +1.05


National Grain Market Summary:

Compared to Friday, cash bids for corn and wheat were mixed, soybeans were higher, while sorghum was not quoted today.  The soybean market had an interesting session, with an early double-digit rally in old-crop July sparked by strong commercial buying in soybean meal both due to a rainy weekend in Argentina.  Weekend rains across parts of the U.S. Southern Plains and Midwest had winter wheat contracts on the defensive throughout Monday's session.


July Corn Futures: 3.9650… Unchanged
July Soybean Futures: 10.1775… +0.1450
July Wheat Futures: 4.9125… (0.0750)
Kansas City Corn: 3.87… Unchanged
Kansas City Soybeans: 10.03… +0.17
Kansas City Wheat: 4.95… (0.08)
Nearby Crude Oil Futures Contract: 70.96… +0.26
Dow Jones Industrial Average: 24,902.65… +71.48
NASDAQ: 7,411.32… +8.44
U.S. Dollar Index: 92.62… +0.10