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Aug
02
2018

Texas Daily Ag Market News Summary

Posted 76 days ago ago by Administrator Account

Daily Market Summary for August 2nd...

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:

Thursday trading in the Southern Plains and Colorado has been at a standstill. In Nebraska and the Western Cornbelt 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: 1,415    Week Ago: 687    Year Ago: 9,047

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 23,300
Weighted avg weight:       865.00
Weighted avg net price:    179.06

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sale Wednesday saw no new trade to report. Dressed bids have been reported at 245.00 delivered. Bids are 3.00-8.00 lower than last week. Live bids have been reported in the mid 140's and are 3.00 lower than last week's weighted average price. Buying interest in the cash market remains mixed with one packer more aggressive than the other.

 

Livestock Slaughter under Federal Inspection:                                  

                                  CATTLE     CALVES   HOGS       SHEEP
Thursday (est          120,000    2,000      450,000      7,000
Week ago (est)       121,000    2,000      367,000      7,000
Year ago (act)          118,000    1,000      436,000     7,000
Week to date (est) 472,000    8,000   1,793,000    30,000
Last Week (est)       471,000    8,000   1,626,000    29,000
Last Year (act)         462,000    6,000   1,742,000    29,000

 

Boxed Beef: 

Boxed beef cutout values steady to weak on light to moderate demand and offerings. Select and Choice chuck and round cuts steady to weak while loin cuts steady to firm. Choice rib cuts firm while Select weak. Beef trimmings unevenly steady on light to moderate demand and offerings.
 
Cutout Values...              Choice       Select
Current Cutout Values:    203.80     197.10
Change from prior day:      +0.05        -0.80
Choice/Select spread:          6.70

 

Futures Summary: 

 

CME Feeder Cattle Index: 149.13… -0.26
August Live Cattle Futures: 108.60… -0.02
October Live Cattle Futures: 109.95… -0.32
December Live Cattle Futures: 113.82… -0.20
August Feeder Cattle Futures: 151.20… -0.62
September Feeder Cattle Futures: 151.35… -0.60
November Feeder Cattle Futures: 151.60… -0.62
 
September Hog Futures: 49.65… -1.12
Nearby Crude Oil Futures Contract: 68.96… +1.30

 

National Grain Market Summary:

Compared to yesterday, cash bids for wheat and corn were mixed, soybeans were lower, and sorghum was higher.  Corn was supported by worries over the rapid maturity levels we are seeing and what they could mean for crop quality. Soybeans were pressured by yield estimates and world trade developments.  Wheat was supported then receded when inaccurate reports stated that the Ukraine would limit exports due to lost production were released and then recanted.
 
September Corn Futures: 3.6675… +0.0175
August Soybean Futures: 8.8700… -0.0450
September Wheat Futures: 5.6050… -0.0225
Kansas City Corn: 3.65… +0.02
Kansas City Soybeans: 8.76… -0.04
Kansas City Wheat: 5.99… +0.05

 

Financial Markets: 

Dow Jones Industrial Average: 25,326.02… -7.80
S & P 500: 2,827.22… +13.86
NASDAQ: 7,802.69… +95.40
U.S. Dollar Index: 95.15… +0.50