Texas Daily Ag Market News Summary

Posted 205 days ago ago by Administrator Account

Daily Market Summary for July 30th   

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Slaughter Cattle:

Monday trading in the Southern Plains and Colorado has been at a standstill. Last week in the Southern Plains, Colorado and Nebraska live cash trades moved at 112.00. In Nebraska dressed cash trades were at 178.00 on a very light test. For the prior week in the Western Cornbelt live cash trades moved at 110.00 and dressed cash trades moved at 178.00 on a very light test.


Negotiated Sales:

Confirmed: 586    Week Ago: 76    Year Ago: 898


Formula Net - Dressed Steers & Heifers

Head count priced today: 63,800
Weighted avg weight:       840.00
Weighted avg net price:    179.66


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 149.75 and 148.50 respectively. Prices are 2.00-3.00 lower than the previous week. All reported cash sales traded locally. Looking at the non-fed market butcher cows traded 2.00-3.00 higher through commercial auction facilities last week. Butcher cow prices are trading at the highest point in eight weeks. Seasonally non-fed prices should be nearing second half of the year highs.


Livestock Slaughter under Federal Inspection:                                  

                                 CATTLE     CALVES     HOGS       SHEEP
Monday (est             117,000    2,000     436,000     8,000
Week ago (est)         111,000    2,000     421,000     7,000
Year ago (act)          110,000    1,000     420,000     7,000


Boxed Beef: 

Boxed beef cutout values weak on light demand and light to moderate offerings. Select and Choice rib, round, and loin cuts steady to weak while chuck cuts steady to firm. Beef trimmings slightly lower on light demand and moderate offerings.
Cutout Values...              Choice       Select
Current Cutout Values:    204.72     197.98
Change from prior day:       -0.42        -0.29
Choice/Select spread:          6.74


Futures Summary: 


CME Feeder Cattle Index: 149.20… -0.37
August Live Cattle Futures: 108.42… -0.20
October Live Cattle Futures: 109.80… -0.67
December Live Cattle Futures: 113.45… -0.70
August Feeder Cattle Futures: 151.50… -0.80
September Feeder Cattle Futures: 151.35… -0.82
November Feeder Cattle Futures: 151.77… -0.98
August Hog Futures: 63.30… -0.35
Nearby Crude Oil Futures Contract: 70.13… +1.44


National Grain Market Summary:

Compared to yesterday, cash bids for corn and soybeans were mixed, while wheat and sorghum were mostly higher.  Export loadings for the week ending July 26th were at the top end or above trade expectations.  Loadings came in at 65.3 million bu for corn, 27.2 million bu for soybeans, and 13.9 million bu for wheat.  The concern for corn and soybeans with these volumes is that they are below the amount needed to reach yearly projections.
September Corn Futures: 3.6725… +0.0525
August Soybean Futures: 8.7500… +0.0450
September Wheat Futures: 5.4650… +0.1600
Kansas City Corn: 3.65… +0.05
Kansas City Soybeans: 8.73… +0.05
Kansas City Wheat: 5.78… +0.16


Financial Markets: 

Dow Jones Industrial Average: 25,306.83… -144.23
S & P 500: 2,802.61… -16.21
NASDAQ: 7,630.00… -107.42
U.S. Dollar Index: 94.36… -0.30