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May
24
2018

Texas Daily Ag Market News Summary

Posted 6 years 187 days ago by Administrator Account

Daily Market Summary for May 24th

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 Thursday, trade was mostly inactive on light demand in all feeding regions. 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: 1,738 Week Ago: 12,800 Year Ago: 15,066

Formula Net - Dressed Steers & Heifers

Head count priced today: 20,000

Weighted avg weight: 843.00

Weighted avg net price: 186.61

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Wednesday saw no new trade to report. Dressed bids have been reported in the low 240's on a delivered basis. Bids are positioned at the bottom end of last week's trading range. Buyers have been calling and making inquiries suggesting they need to buy some cattle this week. There seem to be much less panic to sell cattle this week versus last week.

Livestock Slaughter under Federal Inspection:

CATTLE CALVES HOGS SHEEP

Thursday (est 121,000 2,000 459,000 8,000

Week ago (est) 120,000 2,000 446,000 8,000

Year ago (act) 117,000 1,000 444,000 9,000

Week to date (est) 479,000 8,000 1,833,000 32,000

Last Week (est) 474,000 8,000 1,826,000 30,000

Last Year (act) 469,000 7,000 1,770,000 32,000

Boxed Beef:

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

Cutout Values... Choice Select

Current Cutout Values: 229.00 204.93

Change from prior day: (1.08) (0.11)

Choice/Select spread: 24.07

Futures Summary:

CME Feeder Cattle Index: 134.44… +1.01

June Live Cattle Futures: 104.40… (1.05)

August Live Cattle Futures: 101.77… (1.03)

October Live Cattle Futures: 105.25… (0.50)

May Feeder Cattle Futures: 136.40… +1.50

August Feeder Cattle Futures: 143.30… (0.05)

September Feeder Cattle Futures: 143.10… (0.20)

June Hog Futures: 74.82… +0.22

National Grain Market Summary:

Compared to yesterday, cash bids for corn, wheat, and soybeans were lower, while sorghum was not quoted today. Early Thursday, USDA said last week's export sales and shipments of corn totaled 33.6 and 57.8 million bushels respectively, a neutral showing for the week that has total corn shipments down 12% in 2017-18 from a year ago as of May 17. Soybean shipments totaled 33.2 million bushels for the week, a bearish combination that has total shipments now down 11% in 2017-18 from a year ago. Last week's export sales and shipments of old-crop wheat totaled 4.1 and 13.3 million bushels, another bearish showing for the week.