Texas Daily Ag Market News Summary

Posted 203 days ago ago by Administrator Account

Daily Market Summary for August 1st   

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Slaughter Cattle:

Wednesday trading in the Texas Panhandle and Colorado has been at a standstill. In Kansas, Nebraska and the Western Cornblet trading has been inactive with very light demand. Not enough trades for a market trend. Last week in the Southern and Northern Plains live cash trades moved at 112.00 and in Nebraska a very light test of dressed cash trades moved at 178.00. 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: 1,040    Week Ago: 93    Year Ago: 16,316


Formula Net - Dressed Steers & Heifers

Head count priced today: 21,300
Weighted avg weight:        858.00
Weighted avg net price:    179.68


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 prices levels have eased since Monday. Packers will be pulling hard on August contract cattle which could moderate interest in the cash market. Seasonally carcass weights are increasing. Western Canadian steer carcass weights averaged 861 lbs, weights are now equal with last year. 


Livestock Slaughter under Federal Inspection:                                  

                                  CATTLE     CALVES   HOGS       SHEEP
Wednesday (est      120,000    2,000      459,000      7,000
Week ago (est)        119,000    2,000      381,000      7,000
Year ago (act)          117,000    2,000      443,000      7,000
Week to date (est) 352,000    6,000   1,343,000    23,000
Last Week (est)       350,000    6,000   1,259,000    22,000
Last Year (act)         344,000    5,000   1,306,000    22,000


Boxed Beef: 

Boxed beef cutout values weak to lower on light demand and light to moderate offerings. Select and Choice rib and chuck cuts steady to firm while round cuts steady to weak. Select and Choice loin cuts weak to lower. Beef trimmings unevenly steady on moderate demand and moderate to heavy offerings.
Cutout Values...              Choice       Select
Current Cutout Values:    203.75     197.58
Change from prior day:       -0.52       -0.80
Choice/Select spread:          6.17


Futures Summary: 


CME Feeder Cattle Index: 149.39... +0.35
August Live Cattle Futures: 108.62… +0.95
October Live Cattle Futures: 110.27… +0.97
December Live Cattle Futures: 114.02… +1.05
August Feeder Cattle Futures: 151.82… +2.50
September Feeder Cattle Futures: 151.95… +2.38
November Feeder Cattle Futures: 152.22… +2.27
September Hog Futures: 50.77… +0.05
Nearby Crude Oil Futures Contract: 68.76


National Grain Market Summary:

Compared to yesterday, cash bids for wheat were mixed, while corn, soybeans, and sorghum were lower.  CNBC.com reported the White House is going to propose increasing $200 billion of tariffs on Chinese goods from 10% to 25%, just one day after Bloomberg news reported Treasury Secretary Mnuchin was having private conversations with China in hopes of finding a solution to the current trade dispute.
September Corn Futures: 3.6500… -0.0725
August Soybean Futures: 8.9150… -0.1725
September Wheat Futures: 5.5825… +0.0450
Kansas City Corn: 3.63… -0.07
Kansas City Soybeans: 8.80… -0.22
Kansas City Wheat: 5.94… +0.07


Financial Markets: 

Dow Jones Industrial Average: 25,335.51… -79.88
S & P 500: 2,813.50… -2.79
NASDAQ: 7,707.29… +35.50
U.S. Dollar Index: 94.65… +0.10