Apr 30 2018

Texas Daily Ag Market News Summary Posted 6 years 211 days ago by Administrator Account

Daily Market Summary for April 30th
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Slaughter Cattle:

So far for Monday trading has been at standstill in the Southern and Northern Plains. In the Western Cornbelt trading has been very limited on very light demand. Not enough trades for a market trend. Last week in the Southern Plains live cash trades moved from 121.00-124.00, mostly at 124.00. For the prior week in Nebraska live cash trades moved from 120.00-126.50, mostly at 126.00 and dressed trades moved from 192.00-199.00, mostly 195.00-198.00. In Colorado live cash trades moved from 118.00-126.50. For the previous week in the Western Cornbelt live cash trades moved from 123.00-126.00 and dressed trades moved from 193.00-198.00, mostly from 195.00-197.00.

 

Negotiated Sales:

Confirmed: 300    Week Ago: 1,523    Year Ago: 302

Formula Net - Dressed Steers & Heifers

Head count priced today: 42,700

Weighted avg weight:       830.00

Weighted avg net price:    194.76

 

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 162.50 and 161.00 respectively. Prices are 4.00-5.00 higher than the previous week. Over the past two weeks fed prices have rallied over 7.00 and are sitting within 5.00 of their January highs. Looking at the non-fed market butcher cows and bulls traded 2.00-3.00 higher through commercial auction facilities.

 

Livestock Slaughter under Federal Inspection:

                                 CATTLE    CALVES   HOGS       SHEEP

Monday  (est          118,000    2,000     464,000     7,000

Week ago (est)       117,000    2,000     464,000     7,000

Year ago (act)         106,000    2,000     415,000     7,000

 

Boxed Beef: 

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

 

Cutout Values...               Choice       Select

Current Cutout Values:    224.42       204.79

Change from prior day:      +2.68         +0.47  

Choice/Select spread:        19.63

 

Futures Summary: 

 

CME Feeder Cattle Index: 139.31… (0.68)

April Live Cattle Futures: 123.75… (0.70)

June Live Cattle Futures: 106.10… (0.90)

August Live Cattle Futures: 104.52… (1.45)

May Feeder Cattle Futures: 140.17… (1.85)

August Feeder Cattle Futures: 146.20… (2.05)

September Feeder Cattle Futures: 146.37… (1.98)

May Hog Futures: 66.30… +0.20

 

National Grain Market Summary:

Compared to last week, cash bids for wheat, corn, and sorghum were higher. Soybean futures was lower.  Rain forecasted for much of the Midwestern United States resulted in positive gains.  Mixed opinions on demand for soybeans and large volume of selling was noticed throughout the trade.  Delays is spring wheat planting continues to be a factor, as farmers start looking at planting a portion of the original intended acers into other crops, mainly soybeans.  Crop progress report released by NASS showed a 12 percent increase in corn planted. Weather and soil conditions in Iowa finally allowed for seed to be put into the ground.  Missouri the large increase of the 18 State reported.  Soybeans planting is slow to get started, but it still April.

May Corn Futures: 3.9250… +0.0300

May Soybean Futures: 10.3775… (0.0725)

May Wheat Futures: 5.1250… +0.1700

Kansas City Corn: 3.87… +0.02

Kansas City Soybeans: 10.23… (0.07)

Kansas City Wheat: 5.18… +0.06

 

Nearby Crude Oil Futures Contract: 68.57… +0.47

Dow Jones Industrial Average: 24,163.15… (148.04)

NASDAQ: 7,066.27… (53.53)

U.S. Dollar Index: 91.86… +0.29