Texas Daily Ag Market News Summary

Posted 228 days ago ago by Administrator Account

Daily Market Summary for June 7th 

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Slaughter Cattle:

So far for Thursday trading has been at a standstill in the Southern Plains and Nebraska. In the Western Cornbelt trading has been limited on very light demand. Not enough trades for a market trend. 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: 1,309    Week Ago: 1,591    Year Ago: 9,310


Formula Net - Dressed Steers & Heifers

Head count priced today:   26,300
Weighted avg weight:        852.00
Weighted avg net price:     180.06


Alberta Beef Producers Daily Report:

Alberta direct cattle sales Wednesday saw light trade develop with live sales in the upper 130's, initial sales are 4.00 lower than last week's weighted average price. Dressed bids have been reported at 240.00 delivered, bids are 1.00-3.00 lower than last week. Depending on how things settle out, Alberta fed prices could move to a discount against the Nebraska market. 


Livestock Slaughter under Federal Inspection:

                                CATTLE     CALVES   HOGS        SHEEP
Thursday (est         121,000    2,000      452,000       8,000
Week ago (est)      121,000    2,000       463,000       9,000
Year ago (act)        120,000    1,000       441,000       8,000
Week to date (est) 477,000    8,000    1,796,000     33,000
Last Week (est)       362,000    6,000   1,355,000    24,000
Last Year (act)        475,000    7,000   1,765,000    30,000


Boxed Beef: 

Boxed beef cutout values weak on Choice and steady on Select on light to moderate demand and offerings. Select and Choice rib, chuck, round, and loin cuts steady. Beef trimmings sharply lower on light demand and offerings.
Cutout Values...            Choice       Select
Current Cutout Values:  226.41       203.41
Change from prior day:     -0.56          -0.24
Choice/Select spread:      23.00


Futures Summary: 


CME Feeder Cattle Index: 139.21
June Live Cattle Futures: 108.37… +0.07
August Live Cattle Futures: 104.15… -0.42
October Live Cattle Futures: 107.15… -0.02
August Feeder Cattle Futures: 146.07… -0.68
September Feeder Cattle Futures: 147.55… -0.47
November Feeder Cattle Futures: 148.05… -0.40
July Hog Futures: 79.45… -0.50


National Grain Market Summary:

Compared to yesterday, cash bids for wheat were mixed, corn and soybeans were lower.  Soybeans lost support today from concerns of global trade disputes and news that China will be opening reserves of soybeans.  Last week’s export sales and shipments totaled 33 million and 57 million bushels of corn, with soybean totals at 6.1 million and 19 million bushels.


July Corn Futures: 3.7625… -0.0200
July Soybean Futures: 9.7425… -0.2000
July Wheat Futures: 5.2675… +0.0700
Kansas City Corn: 3.70… Unchanged
Kansas City Soybeans: 9.69… -0.20
Kansas City Wheat: 5.42… +0.08
Nearby Crude Oil Futures Contract: 65.95… +1.22
Dow Jones Industrial Average: 25,241.41… +95.02
NASDAQ: 7,635.07… -54.17
U.S. Dollar Index: 93.43… -0.18