Aug 22 2018

Texas Daily Ag Market News Summary Posted 5 years 242 days ago by Administrator Account

Daily Market Summary for August 22nd  

 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!

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Slaughter Cattle:  

Thus far Wednesday, trade was moderate on light to moderate demand in the Northern Plains. Compared to last week, early live purchases in Nebraska have traded .50-1.00 lower from 109.00-109.50. Compared to last week, early dressed purchases have traded mostly steady at 173.00, with a few up to 174.00. Compared to last week in Colorado, live purchases have traded 1.00 lower at 109.50. Trade has been light on light to moderate demand in the Western Cornbelt with early live purchases ranging from 108.00-110.00, however not enough for an adequate market test. Last week, in the Western Cornbelt, live purchases traded from 109.00-110.00 with dressed purchases mostly at 173.00. Trade was mostly inactive on light demand in the Southern Plains. The latest established market in the Southern Plains was last week, mostly at 110.50.

 

Negotiated Sales:

Confirmed: 26,746    Week Ago: 3,233    Year Ago: 8,622

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 15,400

Weighted avg weight:       846.00

Weighted avg net price:    177.02

 

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 price levels have eased since Monday. Last Friday Canfax released its August 1st cattle on feed report. Calf and feeder placements into AB/SK feedlots for the month July were up over 30% compared last year while fed cattle marketings were down 4%. August 1st cattle on feed inventories are larger than last year and the five-year average.

 

Livestock Slaughter under Federal Inspection:                                  

                                   CATTLE     CALVES   HOGS       SHEEP

Wednesday (est      117,000    2,000      469,000      7,000

Week ago (est)        117,000    2,000      468,000      7,000

Year ago (act)          117,000    3,000      449,000      7,000

Week to date (est) 354,000    6,000   1,384,000    24,000

Last Week (est)       354,000    6,000   1,403,000    23,000

Last Year (act)         352,000    7,000   1,319,000    23,000

 

Boxed Beef: 

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

 

Cutout Values...              Choice       Select

Current Cutout Values:    214.04     203.97

Change from prior day:     +0.47       -0.11

Choice/Select spread:       10.07

 

Futures Summary: 

 

CME Feeder Cattle Index: 149.84… +0.41

August Live Cattle Futures: 108.22… -1.05

October Live Cattle Futures: 108.90… -1.57

December Live Cattle Futures: 113.22… -1.45

August Feeder Cattle Futures: 148.70… -0.47

September Feeder Cattle Futures: 149.15… -1.85

November Feeder Cattle Futures: 148.62… -2.30

 

September Hog Futures: 53.60… -2.62

Nearby Crude Oil Futures Contract: 67.86… +2.02

 

National Grain Market Summary:

Compared to yesterday, cash bids for wheat, corn, soybeans and sorghum were lower. US crops continue to benefit from moderate temperatures and beneficial rains across much of the corn and soybean growing regions.  The two day meeting between Chinese and US officials is expected to end tomorrow and will hopefully bring good news and significant progress regarding trade agreements.

 

September Corn Futures: 3.5250… -0.0725

August Soybean Futures: 8.5825… -0.1625

September Wheat Futures: 5.2600… -0.0125

Kansas City Corn: 3.41… -0.07

Kansas City Soybeans: 8.28… -0.18

Kansas City Wheat: 5.60… -0.04

 

Financial Markets: 

Dow Jones Industrial Average: 25,733.60… -88.69

S & P 500: 2,861.82… -1.14

NASDAQ: 7,889.10… +29.93

U.S. Dollar Index: 95.04… -0.17

Cotton (www.ams.usda.gov): 

October Cotton Futures: 82.52… -0.98

Milk (www.cmegroup.com): 

August Class III Milk Futures: 15.00… -0.01