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Jun
11
2018

Texas Daily Ag Market News Summary

Posted 127 days ago ago by Administrator Account

Daily Market Summary for June 11th

 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 for Monday in the Southern Plains and Nebraska trading has been at a standstill. In the Western Cornbelt trading has been very limited on very light demand. Not enough trades for a market trend. Last week in the Southern Plains and Western Cornbelt live cash trades were at 115.00 and dressed trades, in the Western Cornbelt, were from 182.00-183.00. For the prior week in Nebraska live cash trades were from 114.00-115.00 and dressed trades were from 183.00-184.00.

 

Negotiated Sales:

Confirmed: 612    Week Ago: 76    Year Ago: 10,090

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 53,600
Weighted avg weight:       834.00
Weighted avg net price:   179.54

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales last week saw light trade develop with weighted average steer and heifer prices closing the week at 143.00 and 142.75 respectively. Prices were steady to 0.75 lower than the previous week. All three western Canadian packers bought cattle last week. This is the first time this year where Ontario fed prices have been at a premium over the Alberta market. Looking at the non-fed market butcher cows traded 1.00-2.00 lower through commercial auction facilities last week.

 

Livestock Slaughter under Federal Inspection:

                               CATTLE     CALVES   HOGS        SHEEP
 Monday (est         118,000    2,000     446,000     8,000
Week ago (est)     116,000    2,000     440,000     8,000
Year ago (act)       117,000    2,000     411,000     7,000

 

Boxed Beef: 

Boxed beef cutout values weak to lower on light to moderate demand and moderate offerings. Select and Choice rib, chuck, and round cuts steady to weak. Choice loin cuts lower while Select steady. Beef trimmings sharply higher on good demand and light offerings.
 
Cutout Values...              Choice       Select
Current Cutout Values:  225.13       202.80
Change from prior day:    -1.08         -0.38
Choice/Select spread:      22.33

 

Futures Summary: 

 

CME Feeder Cattle Index: 140.61… +0.12
June Live Cattle Futures: 108.65… -1.37
August Live Cattle Futures: 104.17… -1.60
October Live Cattle Futures: 107.00… -1.20
August Feeder Cattle Futures: 145.95… -1.32
September Feeder Cattle Futures: 147.25… -1.17
November Feeder Cattle Futures: 147.57… -0.78
July Hog Futures: 79.40… -1.32

 

National Grain Market Summary:

Compared to Friday, cash bids for wheat, corn, and soybeans were lower.  The broad rain coverage across the Corn Belt over the weekend along with the rain forecasted for the rest of the week has continued to improve the outlook for crop condition in corn, soybeans, and spring wheat aiding in the losses seen for the day.  Wheat was mostly 2 3/4 to 6 cents lower.  Corn was 5 1/2 to 12 1/2cents lower.  Soybeans were 8 1/2 to 18 1/2 cents lower.

 

July Corn Futures: 3.6725… -0.1050
July Soybean Futures: 9.5375… -0.1550
July Wheat Futures: 5.1450… -0.0550
Kansas City Corn: 3.61… -0.10
Kansas City Soybeans: 9.49… -0.15
Kansas City Wheat: 5.32… -0.04
 
Nearby Crude Oil Futures Contract: 66.10… +0.36
Dow Jones Industrial Average: 25,322.31… +5.78
NASDAQ: 7,659.93… +14.42
U.S. Dollar Index: 93.58… +0.01