Jun 07 2018

Texas Daily Ag Market News Summary Posted 6 years 173 days ago by Administrator Account

Daily Market Summary for June 7th 

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Slaughter Cattle:

So far for Thursday trading has been at a standstill in the Southern Plains and Nebraska. In the Western Cornbelt trading has been limited on very light demand. Not enough trades for a market trend. Last week in the Southern Plains live cash trades moved at 110.00. For the prior week in Nebraska live cash trades were from 111.00-111.50 and dressed trades were mostly at 177.00 with a few up to 178.00. For the previous week in the Western Cornbelt live cash trades moved from 110.00-112.00 and dressed trades ranged from 176.00-178.00.

 

Negotiated Sales:

Confirmed: 1,309    Week Ago: 1,591    Year Ago: 9,310

 

Formula Net - Dressed Steers & Heifers

Head count priced today:   26,300

Weighted avg weight:        852.00

Weighted avg net price:     180.06

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Wednesday saw light trade develop with live sales in the upper 130's, initial sales are 4.00 lower than last week's weighted average price. Dressed bids have been reported at 240.00 delivered, bids are 1.00-3.00 lower than last week. Depending on how things settle out, Alberta fed prices could move to a discount against the Nebraska market. 

 

Livestock Slaughter under Federal Inspection:

                                CATTLE     CALVES   HOGS        SHEEP

Thursday (est         121,000    2,000      452,000       8,000

Week ago (est)      121,000    2,000       463,000       9,000

Year ago (act)        120,000    1,000       441,000       8,000

Week to date (est) 477,000    8,000    1,796,000     33,000

Last Week (est)       362,000    6,000   1,355,000    24,000

Last Year (act)        475,000    7,000   1,765,000    30,000

 

Boxed Beef: 

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

 

Cutout Values...            Choice       Select

Current Cutout Values:  226.41       203.41

Change from prior day:     -0.56          -0.24

Choice/Select spread:      23.00

 

Futures Summary: 

 

CME Feeder Cattle Index: 139.21

June Live Cattle Futures: 108.37… +0.07

August Live Cattle Futures: 104.15… -0.42

October Live Cattle Futures: 107.15… -0.02

August Feeder Cattle Futures: 146.07… -0.68

September Feeder Cattle Futures: 147.55… -0.47

November Feeder Cattle Futures: 148.05… -0.40

July Hog Futures: 79.45… -0.50

 

National Grain Market Summary:

Compared to yesterday, cash bids for wheat were mixed, corn and soybeans were lower.  Soybeans lost support today from concerns of global trade disputes and news that China will be opening reserves of soybeans.  Last week’s export sales and shipments totaled 33 million and 57 million bushels of corn, with soybean totals at 6.1 million and 19 million bushels.

 

July Corn Futures: 3.7625… -0.0200

July Soybean Futures: 9.7425… -0.2000

July Wheat Futures: 5.2675… +0.0700

Kansas City Corn: 3.70… Unchanged

Kansas City Soybeans: 9.69… -0.20

Kansas City Wheat: 5.42… +0.08

 

Nearby Crude Oil Futures Contract: 65.95… +1.22

Dow Jones Industrial Average: 25,241.41… +95.02

NASDAQ: 7,635.07… -54.17

U.S. Dollar Index: 93.43… -0.18