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May
16
2018

Texas Daily Ag Market News Summary

Posted 6 years 195 days ago by Administrator Account

Daily Market Summary for May 16th

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 Wednesday, negotiated trade and demand was light in all feeding regions. In the Texas Panhandle compared to Tuesday, live purchases have traded mostly 1.00 lower at 115.00. In Kansas, live purchases traded mostly 2.00 lower compared to the bulk of Tuesday at 115.00. In the Northern Plains a few purchases were reported at 112.00 with dressed purchases in Nebraska at 184.00, however not enough for and adequate market test. On Tuesday in Nebraska, 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 Colorado last week, live purchases traded from 119.00-122.00. Not enough purchases in the Western Cornbelt for an adequate market test. Live purchases for the week, have ranged from 116.00-122.00. Dressed purchases on Tuesday traded at 184.00.

Negotiated Sales:

Confirmed: 16,349 Week Ago: 4,461 Year Ago: 10,047

Formula Net - Dressed Steers & Heifers

Head count priced today: 21,200

Weighted avg weight: 838.00

Weighted avg net price: 200.17

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 afternoon. Technical price levels have eased from the beginning of the week. With softer US cash prices and weaker live cattle futures there is little doubt packers will be looking to buy cattle cheaper this week.

Livestock Slaughter under Federal Inspection:

CATTLE CALVES HOGS SHEEP

Wednesday (est 118,000 2,000 460,000 7,000

Week ago (est) 118,000 2,000 461,000 6,000

Year ago (act) 116,000 2,000 439,000 7,000

Week to date (est) 354,000 6,000 1,380,000 22,000

Last Week (est) 356,000 6,000 1,374,000 22,000

Last Year (act) 349,000 6,000 1,320,000 21,000

Boxed Beef:

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

Cutout Values... Choice Select

Current Cutout Values: 231.03 208.50

Change from prior day: (0.61) (1.01)

Choice/Select spread: 22.53

Futures Summary:

CME Feeder Cattle Index: 135.67… (0.25)

June Live Cattle Futures: 101.82… (1.15)

August Live Cattle Futures: 99.05… (1.35)

October Live Cattle Futures: 102.30… (1.45)

May Feeder Cattle Futures: 132.72… (0.83)

August Feeder Cattle Futures: 136.72… (1.73)

September Feeder Cattle Futures: 137.37… (1.58)

June Hog Futures: 75.90… +1.18

National Grain Market Summary:

Compared to yesterday, cash bids for wheat were lower, corn, and soybeans were lower. Soybeans lost support today, possibly from an increase in commercial selling. Ethanol manufacturing for week ending May 11th totaled 1.06 million barrels per day, adding 18,000 barrels per day compared to the week prior.