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Jul
19
2018

Texas Daily Ag Market News Summary

Posted 5 years 276 days ago by Administrator Account

Daily Market Summary for July 19th

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 Thursday negotiated cash trading in the Southern Plains and the Western Cornbelt has been at a standstill. In Nebraska negotiated cash trading has been inactive on very light demand. Not enough trades for a market trend. Last week in the Southern Plains live cash trades moved at 111.00. For the prior week in Nebraska live cash trades were from 109.50-111.00 and dressed trades were from 173.00-175.00 on a light test. In the Western Cornbelt the last fully reported market was two weeks ago with live trades mostly at 112.00 and dressed trades ranging from 175.00-180.00.

Negotiated Sales:

Confirmed: 77 Week Ago: 246 Year Ago: 2,564

Formula Net - Dressed Steers & Heifers

Head count priced today: 22,000

Weighted avg weight: 863.00

Weighted avg net price: 177.76

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Tuesday saw no new trade to report. Live bids have been reported in the low 150's, bids are positioned at the bottom end of last week's trading range and are about 3.00 lower than last week's weighted average price. weaker basis levels did prompt some producers to pass cattle on Wednesday. The way things are shaping up sale volumes could be light this week.

Livestock Slaughter under Federal Inspection:

CATTLE CALVES HOGS SHEEP

Thursday (est 121,000 2,000 461,000 7,000

Week ago (est) 120,000 2,000 454,000 7,000

Year ago (act) 114,000 1,000 438,000 8,000

Week to date (est) 476,000 8,000 1,814,000 30,000

Last Week (est) 479,000 8,000 1,811,000 30,000

Last Year (act) 457,000 7,000 1,732,000 31,000

Boxed Beef:

Boxed beef cutout values steady to weak on light to moderate demand and moderate to heavy offerings. Select and Choice rib, chuck, and round cuts mostly steady to firm while loin cuts weak. Beef trimmings mostly slightly lower on light demand and light to moderate offerings.

Cutout Values... Choice Select

Current Cutout Values: 204.49 196.92

Change from prior day: -0.31 -0.17

Choice/Select spread: 7.57

Futures Summary:

CME Feeder Cattle Index: 148.31… -0.28

August Live Cattle Futures: 108.90… -0.05

October Live Cattle Futures: 110.65… Unchanged

December Live Cattle Futures: 114.42… +0.22

August Feeder Cattle Futures: 154.45… Unchanged

September Feeder Cattle Futures: 154.77… +0.12

November Feeder Cattle Futures: 154.92… +0.20

August Hog Futures: 67.25… +0.05

Nearby Crude Oil Futures Contract: 69.46… 0.70

National Grain Market Summary:

Compared to yesterday, cash bids for corn, soybeans, and sorghum were higher, while wheat was mixed. USDA said last week's export sales and shipments of corn totaled 25.2 and 50.9 million bushels respectively, a neutral showing for the week that put total corn shipments at 1.884 billion bushels, down 3% in 2017-18 from a year ago. Last week's export sales and shipments of soybeans totaled 9.3 and 22.2 million bushels respectively, a neutral combination that shows soybeans struggling to keep up with USDA's new export estimate of 2.085 billion bushels. Last week's export sales and shipments of wheat totaled 11.0 and 16.0 million bushels respectively, more than last week's amounts, but still a long way below USDA's expectations for 2018-19.