May 08 2018

Texas Daily Ag Market News Summary Posted 6 years 203 days ago by Administrator Account

Daily Market Summary for May 8th...

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Slaughter Cattle:

Tuesday in the Southern and Northern Plains negotiated cash trading has been at a standstill. In the Western Cornbelt trading has been very limited on very light demand. Not enough trades for a market trend in any major feeding region. Last week in the Southern Plains the bulk of live cash trades were at 126.00. For the prior week in Nebraska live cash trades were mostly from 123.00-126.00 and dressed trades ranged from 188.50-200.00. In Colorado live cash trades ranged from 117.50-125.00. For the previous week in the Western Cornbelt live cash trades ranged from 122.00-128.00 and dressed trades ranged mostly from 195.00-196.00.

 

Negotiated Sales:

Confirmed: 2,075    Week Ago: 4,029    Year Ago: 2,502

Formula Net - Dressed Steers & Heifers

Head count priced today: 16,400

Weighted avg weight:       854.00

Weighted avg net price:    197.86

 

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 4.00 premium against the Nebraska market. Slaughter volumes are seasonally increasing. For the week ending April 28th western Canadian fed slaughter totaled over 40,000 head, this is the largest weekly slaughter volume seen since early October.

 

Livestock Slaughter under Federal Inspection:

                                  CATTLE     CALVES    HOGS      SHEEP

Tuesday (est             119,000    2,000     464,000     8,000

Week ago (est)        118,000    2,000     466,000      6,000

Year ago (act)          116,000    2,000     442,000      7,000

Week to date (est) 238,000    4,000     913,000    16,000

Week (est)               236,000    4,000     924,000    13,000

Last Year (act)         231,000    4,000     874,000    14,000

 

Boxed Beef: 

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

Cutout Values...            Choice       Select

Current Cutout Values:  230.93       209.93

Change from prior day:   +1.79        (1.27)

Choice/Select spread:     21.00

 

Futures Summary: 

 

CME Feeder Cattle Index: 137.91… (0.19)

June Live Cattle Futures: 106.30… +1.13

August Live Cattle Futures: 104.47… +0.37

October Live Cattle Futures: 107.35… +0.25

May Feeder Cattle Futures: 137.72… +0.10

August Feeder Cattle Futures: 143.72… +0.02

September Feeder Cattle Futures: 144.02… (0.48)

June Hog Futures: 76.30… +2.13

 

National Grain Market Summary:

Compared to yesterday, cash bids for corn and soybeans were higher, wheat was mixed, while sorghum was not quoted today.  Rapid planting progress reports and fresh selling interest limited advances.  Losses were held in check by solid demand on corn and thoughts more buyers will soon be showing up for U.S. soybeans, as U.S. offerings are the cheapest in the global market at this time.

 

July Corn Futures: 4.0325… +0.0250

July Soybean Futures: 10.2025… +0.0875

July Wheat Futures: 5.1450… +0.0300

Kansas City Corn: 3.87

Kansas City Soybeans: 9.87

Kansas City Wheat: 5.21

 

Nearby Crude Oil Futures Contract: 69.09… (1.67)

Dow Jones Industrial Average: 24,360.21… +2.89

NASDAQ: 7,266.90… +1.69

U.S. Dollar Index: 93.10… +0.33