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Jun
05
2018

Texas Daily Ag Market News Summary

Posted 15 days ago ago by Julia Newton

Daily Market Summary for June 5th
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 Tuesday trading has been at a standstill in all major feeding regions. 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: 687    Week Ago: 1,250    Year Ago: 25

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 26,100
Weighted avg weight:       837.00
Weighted avg net price:    179.89

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Monday saw no new trade to report. This week's showlist has been compiled with volumes larger than the previous week. Last week on a cash to cash basis Alberta fed prices were at a 0.25 premium over the Nebraska market. Looking at the most recent weekly export data, weekly Canadian fed cattle exports totaled 5,700 head. Volumes are 8% smaller compared to the same week last year.

 

Livestock Slaughter under Federal Inspection:

                                CATTLE     CALVES   HOGS        SHEEP
Tuesday (est           121,000    2,000     453,000     9,000
Week ago (est)       120,000    2,000     426,000     8,000
Year ago (act)         120,000    2,000     436,000      8,000
Week to date (est) 237,000    4,000     893,000    17,000
Last Week (est)       123,000    2,000     428,000      8,000
Last Year (act)         237,000    4,000     882,000    15,000

 

Boxed Beef: 

Boxed beef cutout values steady on Choice and weak on Select on light to moderate demand and offerings. Select and Choice rib and loin cuts steady to firm while chuck cuts steady to weak. Select and Choice round cuts lower. Beef trimmings unevenly steady on moderate demand and offerings.
 
Cutout Values...            Choice       Select
Current Cutout Values:  227.58       205.85
Change from prior day:    +0.01         -0.40
Choice/Select spread:       21.73

 

Futures Summary: 

 

CME Feeder Cattle Index: 139.03… -0.20
June Live Cattle Futures: 107.20… +2.48
August Live Cattle Futures: 104.05… +1.60
October Live Cattle Futures: 106.90… +1.50
August Feeder Cattle Futures: 146.12… +1.27
September Feeder Cattle Futures: 147.35… +1.75
November Feeder Cattle Futures: 147.62… +2.00
July Hog Futures: 77.02… -0.90

 

National Grain Market Summary:

Compared to Thursday, cash bids for wheat and corn were lower, while soybeans were mostly weak today.  Focus remains on the Eastern Corn Belt and the lack of moisture.  However, with 78 percent of the corn crop being rated Good to Excellent market advances were limited.  Weather appears to be more of a factor in price discovery as rains move across the Western Corn Belt.  Brazilian currency moved to historically low levels.  As producers in Brazil have already sold the majority of their old crop supplies.  Therefore, they are reluctant to sell at this time.

 

July Corn Futures: 3.8375… +0.0300
July Soybean Futures: 10.0125… -0.0050
July Wheat Futures: 5.1000… +0.0475
Kansas City Corn: 3.73… +0.03
Kansas City Soybeans: 9.96… -0.01
Kansas City Wheat: 5.24… +0.07
 
Nearby Crude Oil Futures Contract: 65.52… +0.77
Dow Jones Industrial Average: 24,800.40… -13.29
NASDAQ: 7,637.86… +31.40
U.S. Dollar Index: 93.91… -0.13