Texas Daily Ag Market News Summary

Posted 235 days ago ago by Administrator Account

Daily Market Summary for July 31st  

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Slaughter Cattle:

Tuesday trading in the Southern and Northern Plains has been at a standstill. In the Western Cornbelt trading has been limited on light demand. Not enough trades for a market trend. 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: 2,120    Week Ago: 313    Year Ago: 306


Formula Net - Dressed Steers & Heifers

Head count priced today: 25,200
Weighted avg weight:       862.00
Weighted avg net price:    179.82


Alberta Beef Producers Daily Report:

Alberta direct cattle sales Monday saw no new trade to report. This week’s showlist has been compiled with volumes larger than the previous week. Last week on a cash to cash basis Alberta fed prices were at a 3.50 premium over the Nebraska market. Based on the five-year average both cash to cash and cash to futures basis levels weaken from July to August. Four years in a row fed prices have dropped from July to August.


Livestock Slaughter under Federal Inspection:                                  

                                  CATTLE     CALVES   HOGS       SHEEP
Tuesday (est            119,000    2,000     448,000      8,000
Week ago (est)        120,000    2,000     457,000      8,000
Year ago (act)          117,000    2,000     443,000      8,000
Week to date (est) 232,000    4,000     884,000    16,000
Last Week (est)       231,000    4,000     878,000    15,000
Last Year (act)         227,000    3,000     863,000    15,000


Boxed Beef: 

Boxed beef cutout values weak on Choice and firm on Select on light to moderate demand and offerings. Select and Choice rib and chuck cuts steady while loin cuts weak. Choice round cuts steady while Select higher. Beef trimmings mostly slightly to moderately lower on light to moderate demand and heavy offerings.
Cutout Values...              Choice       Select
Current Cutout Values:    204.27     198.38
Change from prior day:       -0.45       +0.40
Choice/Select spread:          5.89


Futures Summary: 


CME Feeder Cattle Index: 149.16… -0.16
August Live Cattle Futures: 107.67… -0.75
October Live Cattle Futures: 109.30… -0.50
December Live Cattle Futures: 112.97… -0.48
August Feeder Cattle Futures: 149.32… -2.18
September Feeder Cattle Futures: 149.57… -1.78
November Feeder Cattle Futures: 149.95… -1.82
August Hog Futures: 61.12… -2.18
Nearby Crude Oil Futures Contract: 68.76… -1.37


National Grain Market Summary:

Compared to yesterday, cash bids for wheat, soybeans, and sorghum were higher, while corn was mixed.  Futures gained support today after Bloomberg News reported that U.S. Treasury Secretary Mnuchin and Chinese Vice Premier Liu He are having private conversations, looking for a solution to the current standoff over trade issues between the two countries.  Dry weather also lent support as it remains a concern for developing crops.
September Corn Futures: 3.7225… +0.0500
August Soybean Futures: 9.0375… +0.2875
September Wheat Futures: 5.5375… +0.0725
Kansas City Corn: 3.70… +0.05
Kansas City Soybeans: 9.02… +0.29
Kansas City Wheat: 5.87… +0.09


Financial Markets: 

Dow Jones Industrial Average: 25,414.37… +107.54
S & P 500: 2,816.17… +13.56
NASDAQ: 7,671.79… +41.79
U.S. Dollar Index: 94.49… +0.13