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Jun
01
2018

Texas Daily Ag Market News Summary

Posted 19 days ago ago by Administrator Account

Daily Market Summary for June 1st

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 Friday, trade and demand was light to moderate in Nebraska and the Western Cornbelt. Early live purchases in Nebraska have traded at 111.00 and 177.00, however not enough for and adequate market test. Last week live purchases in Nebraska, ranged from 109.00-110.50 with a light test of dressed purchases from 176.00-180.00. In the Western Cornbelt the bulk of dressed purchases have traded 2.00-4.00 lower at 178.00, compared to last week’s light test. In the Western Cornbelt last week, a light test of live purchases were reported from 110.00-114.00. Trade and demand in the Southern Plains was light with a few live purchases steady compared to Thursday at 110.00. In Colorado last week, live purchases traded at 110.00.

 

Negotiated Sales:

Confirmed: 13,480    Week Ago: 22,759    Year Ago: 13,645

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 23,600
Weighted avg weight:       852.00
Weighted avg net price:   180.61

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales turned active on Thursday with average prices trending around $2.00 lower than the previous week. The majority of sales were dressed from $241.00-243.00 delivered. Thursday reports should continue to trickle in but business has generally concluded for this week.

 

Livestock Slaughter under Federal Inspection:

                                  CATTLE      CALVES   HOGS          SHEEP
Friday (est                121,000      2,000      450,000       6,000
Week ago (est)        119,000      2,000      436,000       6,000
Year ago (act)          117,000      2,000      435,000       6,000
Week to date (est)  483,000      8,000   1,805,000     30,000
Last Week (est)       598,000    10,000   2,269,000     38,000
Last Year (act)         478,000      6,000    1,761,000     31,000
 
Saturday (est             99,000        0             225,000         0
Week ago (est)         49,000        0               27,000       1,000
Year ago (act)          85,000        0             219,000       1,000
Week to date (est)  582,000      8,000    2,030,000     30,000
Last Week (est)       647,000    10,000    2,296,000     39,000
Last Year* (act)      563,000       7,000    1,980,000     32,000
2018 YTD              13,439,00  221,000  51,667,000   836,000
2017 *YTD            13,044,00  210,000  50,236,000   811,000
Percent change       +3.0%        +5.1%     +2.8%       +3.1%

 

Boxed Beef: 

Boxed beef cutout values weak on Choice and firm on Select on light to moderate demand and offerings. Select and Choice rib, chuck, and round cuts steady to weak while loin cuts firm to higher. Beef trimmings sharply lower on light demand and moderate offerings.
 
Cutout Values...            Choice       Select
Current Cutout Values:  227.53       204.80
Change from prior day:     -0.67         +0.33
Choice/Select spread:       22.73

 

Futures Summary: 

 

CME Feeder Cattle Index: 136.17… +1.35
June Live Cattle Futures: 104.90… -0.15
August Live Cattle Futures: 103.62… -0.33
October Live Cattle Futures: 106.27… -0.78
August Feeder Cattle Futures: 146.32… -1.08
September Feeder Cattle Futures: 146.60… -0.70
November Feeder Cattle Futures: 146.42… -0.58
June Hog Futures: 77.60… +0.98

 

National Grain Market Summary:

Compared to last week, cash bids for wheat were mixed, corn, sorghum, 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.  Early Friday, USDA said last week's export sales and shipments of corn totaled 39.1 and 74.6 million bushels respectively, with total corn shipments down 10% in 2017-18 from a year ago. Soybean export sales and shipments totaled 10.0 and 23.8 million bushels for the week, with total shipments now down 10% in 2017-18 from a year ago.  Last week's export sales and shipments of wheat totaled 1.1 and 16.3 million bushels, with total shipments down 15%.  Wheat was mixed from 32 3/4 cents lower to 12 1/4 cents higher. Corn was 8 1/4 to 15 1/4 cents lower.  Sorghum was 10 to 18 cents lower.  Soybeans were 12 1/4 to 17 1/4 cents lower.
 
July Corn Futures: 3.9150… -0.0250
July Soybean Futures: 10.2125… +0.0275
July Wheat Futures: 5.2325… -0.0300
Kansas City Corn: 3.81… -0.02
Kansas City Soybeans: 10.16… +0.03
Kansas City Wheat: 5.36… Unchanged
 
Nearby Crude Oil Futures Contract: 65.81… -1.23
Dow Jones Industrial Average: 24,635.21… +219.37
NASDAQ: 7,554.33… +112.21
U.S. Dollar Index: 94.23… +0.24