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May
22
2018

Texas Daily Ag Market News Summary

Posted 6 years 189 days ago by Administrator Account

Daily Market Summary for May 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!

Slaughter Cattle:

So far for Tuesday trading has been at a standstill in the Southern and Northern Plains. In the Western Cornbelt trading has been mostly inactive on very light demand. Not enough trades for a market trend. Last week in the Texas Panhandle live trades were from 115.00-116.00. In Kansas live trades moved from 114.00-117.00. For the prior week in Nebraska live trades were from 112.00-115.00 and dressed trades moved from 180.00-185.00. In Colorado live trades were from 112.00-113.00. For the previous week in the Western Cornbelt live trades ranged from 112.00-122.00 and dressed trades, on a light test, were mostly at 184.00.

Negotiated Sales:

Confirmed: 158 Week Ago: 15,208 Year Ago: none

Formula Net - Dressed Steers & Heifers

Head count priced today: 21,000

Weighted avg weight: 831.00

Weighted avg net price: 195.59

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 146.25 and 144.25 respectively. Prices are 11.00-12.00 lower than the previous week. Fed prices are trading 28.00 lower than last year and 15.00 lower than the five-year average. Looking at the non-fed market, butcher cows and bulls traded steady to 2.00 lower through commercial auction facilities.

Livestock Slaughter under Federal Inspection:

CATTLE CALVES HOGS SHEEP

Tuesday (est 119,000 2,000 458,000 8,000

Week ago (est) 119,000 2,000 461,000 8,000

Year ago (act) 119,000 2,000 440,000 8,000

Week to date (est) 239,000 4,000 915,000 16,000

Last Week (est) 236,000 4,000 920,000 15,000

Last Year (act) 235,000 4,000 880,000 16,000

Boxed Beef:

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

Cutout Values... Choice Select

Current Cutout Values: 229.35 205.86

Change from prior day: (1.47) (1.66)

Choice/Select spread: 23.49

Futures Summary:

CME Feeder Cattle Index: 133.41… (0.24)

June Live Cattle Futures: 104.90… (0.02)

August Live Cattle Futures: 100.65… +0.03

October Live Cattle Futures: 103.85… +0.13

May Feeder Cattle Futures: 133.95… +0.03)

August Feeder Cattle Futures: 140.72… +0.22

September Feeder Cattle Futures: 140.80… +0.12

June Hog Futures: 73.12… (0.88)

National Grain Market Summary:

Compared to yesterday, cash bids for corn, wheat, and soybeans were higher, while sorghum was not quoted today. Overall, the U.S. corn crop is off to a good start, except for dry areas in northern Missouri, southern Iowa, the western plains. The main concern for old-crop soybean prices continues to be the lack of China's participation in U.S. markets, made possible by Brazil's record harvest earlier this year. July Chicago wheat and July Kansas City wheat were near its highest prices in 10 months with ongoing support from drought in the southwestern U.S. Plains and a forecast for hot temperatures in the region this weekend.