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Jun
28
2018

Texas Daily Ag Market News Summary

Posted 5 years 275 days ago by Administrator Account

Daily Market Summary for June 28th

 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 Thursday trade has been light with light to moderate demand in the Western Cornbelt.  In the Western Cornbelt, live trades have been from 105.00 to 106.00. Thus far for the week in the Western Cornbelt, live purchases have been steady to 3.00 lower from 105.00 to 109.00 and dressed trades have ranged from 168.00 to 172.00, mostly at 170.00. In Nebraska, Kansas, and the Texas Panhandle, trade has been limited on light demand. The last established market in Nebraska was on Wednesday with live trades at 106.00 and dressed trades from 169.00 to 172.00, mostly from 169.00 to 170.00. On Wednesday in Kansas live trades were reported at 106.00. In the Texas Panhandle, the latest established market was last week with live trades from 109.00 to 110.00.

 

Negotiated Sales:

Confirmed: 13,044    Week Ago: 1,581    Year Ago: 34,659

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 21,500
Weighted avg weight:       851.00
Weighted avg net price:    177.04

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Wednesday saw no new trade to report. There have been rumblings dressed bids have been herd up to 247.00 delivered. Bids are 2.00-7.00 higher than the previous week. Live been have been reported in the upper 140's and are a couple dollars higher than last week's weighted average price. It appears the Alberta fed market will regains its premium over the US market. 

 

Livestock Slaughter under Federal Inspection:

                                 CATTLE     CALVES     HOGS       SHEEP
Thursday (est          120,000    2,000      450,000      7,000
Week ago (est)       121,000    2,000      444,000      8,000
Year ago (act)         116,000    1,000       443,000     7,000
Week to date (est) 470,000    8,000   1,784,000    32,000
Last Week (est)      478,000    8,000   1,744,000    32,000
Last Year (act)        467,000    7,000   1,758,000    29,000

 

 

Boxed Beef: 

Boxed beef cutout values sharply lower on Choice and steady on Select on light to moderate demand and offerings. Select and Choice chuck, round, and loin cuts steady to weak while rib cuts weak to lower. Beef trimmings mostly sharply lower on light demand and offerings.
 
Cutout Values...              Choice       Select
Current Cutout Values:  213.24      200.66
Change from prior day:   -2.06         -0.22
Choice/Select spread:     12.58

 

Futures Summary: 

 

CME Feeder Cattle Index: 142.55… +0.77
June Live Cattle Futures: 108.20… +1.18
August Live Cattle Futures: 103.72… +1.00
October Live Cattle Futures: 107.02… +0.87
August Feeder Cattle Futures: 146.82… +1.05
September Feeder Cattle Futures: 147.37… +0.90
November Feeder Cattle Futures: 147.27… +0.80
July Hog Futures: 81.12… +0.90

 

National Grain Market Summary:

Compared to yesterday, cash bids for corn, soybeans, and sorghum were lower, while wheat was mixed.  Export sales for the week ending June 21st were all at or above trade expectations.  Corn bookings were split with 33.5 million bu old crop and 25.1 million bu new crop.  Soybean bookings came in with 13.2 million bu old crop and 23.6 million bu new crop.  Wheat sales were a solid 20.7 million bu.

 

July Corn Futures: 3.4500… +0.0750
July Soybean Futures: 8.6125… +0.0625
July Wheat Futures: 4.7950… Unchanged
Kansas City Corn: 3.45… -0.07
Kansas City Soybeans: 8.59… -0.06
Kansas City Wheat: 4.98… -0.07
 
Nearby Crude Oil Futures Contract: 73.45… +0.69
Dow Jones Industrial Average: 24,216.32… +98.73
NASDAQ: 7,503.68… +58.59
U.S. Dollar Index: 95.32… +0.03





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