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Jun
01
2018

Texas Daily Ag Market News Summary

Posted 6 years 179 days ago by Administrator Account

Daily Market Summary for June 1st

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 Friday, trade and demand was light to moderate in Nebraska and the Western Cornbelt. Early live purchases in Nebraska have traded at 111.00 and 177.00, however not enough for and adequate market test. Last week live purchases in Nebraska, ranged from 109.00-110.50 with a light test of dressed purchases from 176.00-180.00. In the Western Cornbelt the bulk of dressed purchases have traded 2.00-4.00 lower at 178.00, compared to last week’s light test. In the Western Cornbelt last week, a light test of live purchases were reported from 110.00-114.00. Trade and demand in the Southern Plains was light with a few live purchases steady compared to Thursday at 110.00. In Colorado last week, live purchases traded at 110.00.

Negotiated Sales:

Confirmed: 13,480 Week Ago: 22,759 Year Ago: 13,645

Formula Net - Dressed Steers & Heifers

Head count priced today: 23,600

Weighted avg weight: 852.00

Weighted avg net price: 180.61

Alberta Beef Producers Daily Report:

Alberta direct cattle sales turned active on Thursday with average prices trending around $2.00 lower than the previous week. The majority of sales were dressed from $241.00-243.00 delivered. Thursday reports should continue to trickle in but business has generally concluded for this week.

Livestock Slaughter under Federal Inspection:

CATTLE CALVES HOGS SHEEP

Friday (est 121,000 2,000 450,000 6,000

Week ago (est) 119,000 2,000 436,000 6,000

Year ago (act) 117,000 2,000 435,000 6,000

Week to date (est) 483,000 8,000 1,805,000 30,000

Last Week (est) 598,000 10,000 2,269,000 38,000

Last Year (act) 478,000 6,000 1,761,000 31,000

Saturday (est 99,000 0 225,000 0

Week ago (est) 49,000 0 27,000 1,000

Year ago (act) 85,000 0 219,000 1,000

Week to date (est) 582,000 8,000 2,030,000 30,000

Last Week (est) 647,000 10,000 2,296,000 39,000

Last Year* (act) 563,000 7,000 1,980,000 32,000

2018 YTD 13,439,00 221,000 51,667,000 836,000

2017 *YTD 13,044,00 210,000 50,236,000 811,000

Percent change +3.0% +5.1% +2.8% +3.1%

Boxed Beef:

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

Cutout Values... Choice Select

Current Cutout Values: 227.53 204.80

Change from prior day: -0.67 +0.33

Choice/Select spread: 22.73

Futures Summary:

CME Feeder Cattle Index: 136.17… +1.35

June Live Cattle Futures: 104.90… -0.15

August Live Cattle Futures: 103.62… -0.33

October Live Cattle Futures: 106.27… -0.78

August Feeder Cattle Futures: 146.32… -1.08

September Feeder Cattle Futures: 146.60… -0.70

November Feeder Cattle Futures: 146.42… -0.58

June Hog Futures: 77.60… +0.98

National Grain Market Summary:

Compared to last week, cash bids for wheat were mixed, corn, sorghum, 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. Early Friday, USDA said last week's export sales and shipments of corn totaled 39.1 and 74.6 million bushels respectively, with total corn shipments down 10% in 2017-18 from a year ago. Soybean export sales and shipments totaled 10.0 and 23.8 million bushels for the week, with total shipments now down 10% in 2017-18 from a year ago. Last week's export sales and shipments of wheat totaled 1.1 and 16.3 million bushels, with total shipments down 15%. Wheat was mixed from 32 3/4 cents lower to 12 1/4 cents higher. Corn was 8 1/4 to 15 1/4 cents lower. Sorghum was 10 to 18 cents lower. Soybeans were 12 1/4 to 17 1/4 cents lower.