Texas Daily Ag Market News Summary

Posted 231 days ago ago by Administrator Account

Daily Market Summary for June 4th
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Slaughter Cattle:

Thus far for Monday trading has been at a standstill. Last week in the Southern Plains live cash trades moved at 110.00. For the prior week in Nebraska live cash trades were from 111.00-111.50 and dressed trades were mostly at 177.00 with a few up to 178.00. For the previous week in the Western Cornbelt live cash trades moved from 110.00-112.00 and dressed trades ranged from 176.00-178.00.


Negotiated Sales:

Confirmed: 76    Week Ago: none    Year Ago: 125


Formula Net - Dressed Steers & Heifers

Head count priced today: 48,900
Weighted avg weight:       825.00
Weighted avg net price:    179.71


Alberta Beef Producers Daily Report:

Alberta direct cattle sales last week got off to a sluggish start and active trade did not develop until Thursday. Weighted average prices were generally $2.00-2.50 lower than the previous week. Dressed sales ranged from $241.00-243.00 delivered, with the majority of sales at $242.00. Total sales volumes were generally light and a significant portion of the showlist was carried over.


Livestock Slaughter under Federal Inspection:

                               CATTLE     CALVES   HOGS        SHEEP
Monday (est          116,000    2,000     449,000     8,000
Week ago (est)          3,000        0             2,000         0
Year ago (act)        117,000    2,000     446,000     7,000


Boxed Beef: 

Boxed beef cutout values steady on Choice and higher on Select on moderate to fairly good demand and moderate to heavy offerings. Select and Choice rib, chuck, round, and loin cuts steady to firm. Beef trimmings generally steady on moderate demand and heavy offerings.
Cutout Values...            Choice       Select
Current Cutout Values:  227.57       206.25
Change from prior day:    +0.04         +1.45
Choice/Select spread:       21.32


Futures Summary: 


CME Feeder Cattle Index: 139.23… +3.06
June Live Cattle Futures: 104.72… -0.18
August Live Cattle Futures: 102.45… -1.17
October Live Cattle Futures: 105.40… -0.87
August Feeder Cattle Futures: 144.85… -1.47
September Feeder Cattle Futures: 145.60… -1.00
November Feeder Cattle Futures: 145.62… -0.80
July Hog Futures: 77.92… -0.88


National Grain Market Summary:

Compared to Friday, cash bids for corn and soybeans were lower, while wheat was mixed and sorghum was not quoted.   High crop rating expectations coupled with favorable U.S. crop development weighed heavily on today's trading session. The corn crop condition today reported at 78 percent good to excellent; 1 percent below a week ago and 10 percent above a year ago.  For the week ending May 31, export loadings of corn and soybeans were reported within industry trade expectations, while wheat shipments fell short.


July Corn Futures: 3.8075… -0.1075
July Soybean Futures: 10.0175… -0.1950
July Wheat Futures: 5.0525… 0.1800
Kansas City Corn: 3.70... -0.11
Kansas City Soybeans: 9.97... -0.19
Kansas City Wheat: 5.17... -0.19
Nearby Crude Oil Futures Contract: 64.75… -1.06
Dow Jones Industrial Average: 24,813.69… +178.48
NASDAQ: 7,606.46… +52.13
U.S. Dollar Index: 94.04… -0.15