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May
21
2018

Texas Daily Ag Market News Summary

Posted 5 years 312 days ago by Administrator Account

Daily Market Summary for May 21st 

The Daily Market News Report bought to you by The Cattle Range. Please visit https://cattlerange.com/cattle-market-reports-analysis/daily-summary/ for more information!

Slaughter Cattle:

So far for Monday trading has been at a standstill. Last week in the Texas Panhandle live trades were from 115.00-116.00. In Kansas live trades moved from 114.00-117.00. For the prior week in Nebraska live trades were from 112.00-115.00 and dressed trades moved from 180.00-185.00. In Colorado live trades were from 112.00-113.00. For the previous week in the Western Cornbelt live trades ranged from 112.00-122.00 and dressed trades, on a light test, were mostly at 184.00.

 

Negotiated Sales:

Confirmed: none    Week Ago: 2,993    Year Ago: 214

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 45,400
Weighted avg weight:       822.00
Weighted avg net price:    196.64

 

Alberta Beef Producers Daily Report:

N/A – Victoria’s Day Holiday

 

Livestock Slaughter under Federal Inspection:

                                 CATTLE      CALVES    HOGS      SHEEP
Monday (est           120,000    2,000     457,000     8,000
Week ago (est)       117,000    2,000     459,000     7,000
Year ago (act)         116,000    2,000     440,000     8,000

 

Boxed Beef: 

Boxed beef cutout values lower on light to moderate demand and moderate offerings. Select and Choice chuck, round, and loin cuts steady to weak. Choice rib cuts lower while Select steady. Beef trimmings sharply lower on light demand and moderate offerings.
 
Cutout Values...            Choice       Select
Current Cutout Values:  230.82       207.52
Change from prior day:    (1.39)         (0.94)
Choice/Select spread:      23.30

 

Futures Summary: 

 

CME Feeder Cattle Index: 133.63… +0.05
June Live Cattle Futures: 104.92… +2.52
August Live Cattle Futures: 100.62… +2.40
October Live Cattle Futures: 103.72… +2.02
May Feeder Cattle Futures: 133.92… +1.70
August Feeder Cattle Futures: 140.50… +2.88
September Feeder Cattle Futures: 140.68… +2.88
June Hog Futures: 74.00… (0.70)

 

National Grain Market Summary:

Compared to Friday, cash bids for corn and wheat were mixed, soybeans were higher, while sorghum was not quoted today.  U.S. Treasury Secretary Mnuchin told CNBC that both China and the U.S. have agreed to suspend tariffs while progress is being made on trade disputes -- bullish news for soybean traders' ears.  In corn, with fundamental support from crop concerns in Brazil, the trends remain up in both July corn and new-crop corn.  In wheat, it remains difficult for the U.S. to compete with plentiful supplies of global wheat, but the trends remain higher for the July contracts.

 

July Corn Futures: 4.0225… +0.0025
July Soybean Futures: 10.2525… +0.2675
July Wheat Futures: 5.0725… (0.1100)
Kansas City Corn: 3.92… Unchanged
Kansas City Soybeans: 10.13… +0.27
Kansas City Wheat: 5.17… (0.12)
 
Nearby Crude Oil Futures Contract: 72.24… +0.96
Dow Jones Industrial Average: 25,013.16… +298.07
NASDAQ: 7,394.04… +39.70
U.S. Dollar Index: 93.84… +0.12





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