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Jul
11
2018

Texas Daily Ag Market News Summary

Posted 5 years 262 days ago by Administrator Account

Daily Market Summary for July 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:

So far for Wednesday trading in the Southern Plains has been at a standstill. In Nebraska and the Western Cornbelt trading has been limited on light demand. Not enough trades for a full market trend. The latest established market was last week, with live purchases in the Texas Panhandle mostly at 113.00. Last week in Kansas, live purchases traded mostly at 112.00 with a few up to 113.00. Last week in Nebraska, the bulk of live purchases traded from 113.50-114.00 with dressed purchases mostly at 180.00. In the Western Cornbelt for the previous week, live purchases traded mostly at 112.00, with dressed purchases ranging from 175.00-180.00.

 

Negotiated Sales:

Confirmed: 3,011    Week Ago: none    Year Ago: 33,711

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 15,700
Weighted avg weight:       854.00
Weighted avg net price:    177.12

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Tuesday saw no new trade to report but there is a chance scattered trade could develop by this afternoon. Technical price levels have eased from the beginning of the week. Looking at the futures market both live and feeder cattle futures are seeing triple digit losses this morning. As we work through summer fed cattle supplies, market ready volumes are expected to remain ample over the next two months.

 

Livestock Slaughter under Federal Inspection:

                                CATTLE    CALVES    HOGS        SHEEP
Wednesday (est    120,000    2,000      456,000     7,000
Week ago (est)           1,000        0              2,000         0
Year ago (act)         116,000    2,000      441,000     7,000
Week to date (est) 359,000    6,000   1,357,000    23,000
Last Week (est)       235,000    4,000     928,000    17,000
Last Year (act)         353,000    6,000   1,318,000    23,000

 

Boxed Beef: 

Boxed beef cutout values steady on Choice and lower on Select on light to moderate demand and offerings. Select and Choice chuck and round cuts steady to weak while loin cuts weak to lower. Choice rib cuts higher while Select steady. Beef trimmings unevenly steady on moderate demand and heavy offerings.
 
Cutout Values...              Choice       Select
Current Cutout Values:  207.44      197.14
Change from prior day:    +0.12         -1.23
Choice/Select spread:       10.30

 

Futures Summary: 

 

CME Feeder Cattle Index: 145.08… -1.67
August Live Cattle Futures: 103.85… -1.60
October Live Cattle Futures: 106.25… -1.57
December Live Cattle Futures: 110.67… -1.60
August Feeder Cattle Futures: 149.40… -2.45
September Feeder Cattle Futures: 149.42… -2.63
November Feeder Cattle Futures: 149.95… -2.20
August Hog Futures: 68.80… -0.97

 

National Grain Market Summary:

Compared to yesterday, cash bids for wheat, corn, and soybeans and sorghum were lower.  Grains were pressured by dry conditions across the corn belt, as well as the $200 billion worth of tariffs U.S has proposed against China recently.

 

September Corn Futures: 3.4000… -0.0775
August Soybean Futures: 8.3300… -0.2275
September Wheat Futures: 4.7075… -0.2125
Kansas City Corn: 3.43… -0.08
Kansas City Soybeans: 8.25… -0.23
Kansas City Wheat: 5.04… -0.21
 
Nearby Crude Oil Futures Contract: 70.38… -3.73
Dow Jones Industrial Average: 24,700.45… -219.21
NASDAQ: 7,716.61… -42.59
U.S. Dollar Index: 94.76… +0.61





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