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May
31
2018

Texas Daily Ag Market News Summary

Posted 20 days ago ago by Administrator Account

Daily Market Summary for May 31st

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:

Thus far Thursday, trade was mostly inactive on light demand in all feeding regions. Not enough purchases in any feeding region for and adequate market test. The latest established market in the Texas Panhandle was two weeks ago, with live purchases from 115.00-116.00. Last week in Kansas, live purchases traded at 110.00 on a light test. Live purchases in Nebraska ranged from 109.00-110.50 with a light test of dressed purchases from 176.00-180.00. In Colorado last week, live purchases traded at 110.00. In the Western Cornbelt last week, a light test of live and dressed purchases were reported ranging from 110.00-114.00 and from 180.00-182.00.

 

Negotiated Sales:

Confirmed: 1,591    Week Ago: 1,738    Year Ago: 48,718

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 17,300
Weighted avg weight:        852.00
Weighted avg net price:    186.11

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Wednesday were sluggish and very few cattle were traded. A handful of dressed sales were reported FOB the feedlot at around a $240.00 delivered equivalent. Asking prices on the bulk of the showlist continue around $253.00+ delivered. Light trade is anticipated today.

 

Livestock Slaughter under Federal Inspection:

                                  CATTLE     CALVES   HOGS        SHEEP
Thursday (est          121,000    2,000      463,000      9,000
Week ago (est)       121,000    2,000      459,000      8,000
Year ago (act)         119,000    1,000      441,000       8,000
Week to date (est) 362,000    6,000   1,355,000    24,000
Last Week (est)      479,000    8,000   1,833,000    32,000
Last Year (act)        361,000    4,000   1,326,000    25,000

 

Boxed Beef: 

Boxed beef cutout values steady to weak on light to moderate demand and moderate to heavy offerings. Select and Choice rib, chuck, round, and loin cuts steady to weak. Beef trimmings generally steady on moderate demand and offerings.
 
Cutout Values...            Choice       Select
Current Cutout Values:  228.20       204.47
Change from prior day:    -0.48         +0.09
Choice/Select spread:       23.73

 

Futures Summary: 

 

CME Feeder Cattle Index: 134.82… -0.04
June Live Cattle Futures: 105.05… -1.07
August Live Cattle Futures: 103.95… -0.05
October Live Cattle Futures: 107.05… -0.70
August Feeder Cattle Futures: 144.40… -1.15
September Feeder Cattle Futures: 147.30… -0.77
November Feeder Cattle Futures: 147.00… -0.62
June Hog Futures: 76.62… -0.70

 

National Grain Market Summary:

Compared to yesterday, cash bids for wheat were higher, corn was mixed, and soybeans were lower.  Ethanol production for week ending May 25th totaled 1.041 million barrels per day, 13,000 barrels per day more than the week prior.
 
July Corn Futures: 3.9400… +0.0050
July Soybean Futures: 10.1850… -0.0450
July Wheat Futures: 5.2625… +0.0425
Kansas City Corn: 3.83… +0.01
Kansas City Soybeans: 10.13… -0.04
Kansas City Wheat: 5.36… +0.02
 
Nearby Crude Oil Futures Contract: 67.04… -1.17
Dow Jones Industrial Average: 24,416.19… -251.59
NASDAQ: 7,442.12… -20.33
U.S. Dollar Index: 93.99… -0.07