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May
31
2018

Texas Daily Ag Market News Summary

Posted 6 years 180 days ago by Administrator Account

Daily Market Summary for May 31st

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 purchases in any feeding region for and adequate market test. The latest established market in the Texas Panhandle was two weeks ago, with live purchases from 115.00-116.00. Last week in Kansas, live purchases traded at 110.00 on a light test. Live purchases in Nebraska ranged from 109.00-110.50 with a light test of dressed purchases from 176.00-180.00. In Colorado last week, live purchases traded at 110.00. In the Western Cornbelt last week, a light test of live and dressed purchases were reported ranging from 110.00-114.00 and from 180.00-182.00.

Negotiated Sales:

Confirmed: 1,591 Week Ago: 1,738 Year Ago: 48,718

Formula Net - Dressed Steers & Heifers

Head count priced today: 17,300

Weighted avg weight: 852.00

Weighted avg net price: 186.11

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Wednesday were sluggish and very few cattle were traded. A handful of dressed sales were reported FOB the feedlot at around a $240.00 delivered equivalent. Asking prices on the bulk of the showlist continue around $253.00+ delivered. Light trade is anticipated today.

Livestock Slaughter under Federal Inspection:

CATTLE CALVES HOGS SHEEP

Thursday (est 121,000 2,000 463,000 9,000

Week ago (est) 121,000 2,000 459,000 8,000

Year ago (act) 119,000 1,000 441,000 8,000

Week to date (est) 362,000 6,000 1,355,000 24,000

Last Week (est) 479,000 8,000 1,833,000 32,000

Last Year (act) 361,000 4,000 1,326,000 25,000

Boxed Beef:

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

Cutout Values... Choice Select

Current Cutout Values: 228.20 204.47

Change from prior day: -0.48 +0.09

Choice/Select spread: 23.73

Futures Summary:

CME Feeder Cattle Index: 134.82… -0.04

June Live Cattle Futures: 105.05… -1.07

August Live Cattle Futures: 103.95… -0.05

October Live Cattle Futures: 107.05… -0.70

August Feeder Cattle Futures: 144.40… -1.15

September Feeder Cattle Futures: 147.30… -0.77

November Feeder Cattle Futures: 147.00… -0.62

June Hog Futures: 76.62… -0.70

National Grain Market Summary:

Compared to yesterday, cash bids for wheat were higher, corn was mixed, and soybeans were lower. Ethanol production for week ending May 25th totaled 1.041 million barrels per day, 13,000 barrels per day more than the week prior.