(800)-Tell-TDA
835-5832

News & Events > Agriculture Market Summary

weekly-market-recap2

May
15
2018

Texas Daily Ag Market News Summary

Posted 6 years 196 days ago by Administrator Account

Daily Market Summary for May 15th

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:

Thus far Tuesday, trade was light to moderate on light demand in Nebraska and the Western Cornbelt. Compared to last week in Nebraska, early live purchases traded mostly 7.00 lower at 115.00 with a few up to 117.00. Dressed purchases last week traded from 189.00-195.00. In the Western Cornbelt early dressed purchases have traded mostly at 184.00. Early live purchases for the week have traded mostly from 121.00-122.00. Trade and demand was light in Kansas. Trade was inactive on light demand in the Texas Panhandle and Colorado. The latest established market in the Southern Plains was last week with live purchases at 122.00. In Colorado last week, live purchases traded from 119.00-122.00.

Negotiated Sales:

Confirmed: 15,208 Week Ago: 2,075 Year Ago: 609

Formula Net - Dressed Steers & Heifers

Head count priced today: 21,500

Weighted avg weight: 847.00

Weighted avg net price: 201.12

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 2.00 premium over the Nebraska market. Packers have bought a lot of cattle over the past couple of week. That said packers might not be as long bought as they are suggesting as they are lifting cattle quicker than anticipated. Looking at the futures market both live and feed cattle futures are seeing triple digit losses this morning.

Livestock Slaughter under Federal Inspection:

CATTLE CALVES HOGS SHEEP

Tuesday (est 119,000 2,000 461,000 8,000

Week ago (est) 119,000 2,000 464,000 8,000

Year ago (act) 117,000 2,000 441,000 8,000

Week to date (est) 236,000 4,000 920,000 15,000

Last Week (est) 238,000 4,000 913,000 16,000

Last Year (act) 233,000 4,000 881,000 14,000

Boxed Beef:

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

Cutout Values... Choice Select

Current Cutout Values: 231.64 209.51

Change from prior day: (0.48) +0.39

Choice/Select spread: 22.13

Futures Summary:

CME Feeder Cattle Index: 135.92… (0.20)

June Live Cattle Futures: 102.97… (1.65)

August Live Cattle Futures: 100.40… (1.50)

October Live Cattle Futures: 103.75… (1.52)

May Feeder Cattle Futures: 133.55… (1.85)

August Feeder Cattle Futures: 138.45… (1.92)

September Feeder Cattle Futures: 138.95… (1.85)

June Hog Futures: 74.72… (1.43)

National Grain Market Summary:

Compared to yesterday, cash bids for corn were higher, wheat and soybeans were mixed, while sorghum was not quoted today. After doing next to nothing for a day and a half, corn stormed higher late in Tuesday's session. Winter wheat remains fundamentally bearish long-term. Slow soybean sales to China are becoming more of a market factor. While this is concerning, some analysts feel China will show up late in the marketing year and make enough purchases to catch us up.