Jun 13 2018

Texas Daily Ag Market News Summary Posted 6 years 167 days ago by Administrator Account

Daily Market Summary for June 13th

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Slaughter Cattle:

Thus far for Wednesday in the Texas Panhandle trading has been at a standstill. In Kansas trading has been mostly inactive on very light demand. In Nebraska and the Western Cornbelt trading has been limited on very light demand. Not enough trades for a market trend in any of these feeding regions. Last week in the Southern Plains and Western Cornbelt live cash trades were at 115.00 and dressed trades, in the Western Cornbelt, were from 182.00-183.00 with a few up to 184.00. For the prior week in Nebraska live cash trades were mostly from 114.00-115.00 and dressed trades were mostly from 183.00-184.00.

 

Negotiated Sales:

Confirmed: 9,353    Week Ago: 282    Year Ago: 15,519

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 17,500

Weighted avg weight:        837.00

Weighted avg net price:    183.56

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Tuesday saw no new trade to report but there is a chance scattered trade could develop by this afternoon. Technical price levels are unchanged from Monday. Slaughter volumes have seasonally increased as packer margins remain profitable. Seasonally fed cattle prices trend lower into the summer. 

Livestock Slaughter under Federal Inspection:

                                CATTLE     CALVES   HOGS        SHEEP

 Wednesday (est     114,000    2,000     446,000     8,000

Week ago (est)        119,000    2,000     451,000     8,000

Year ago (act)          119,000    2,000     432,000     7,000

Week to date (est) 352,000    6,000   1,339,000    24,000

Last Week (est)      356,000    6,000   1,344,000    25,000

Last Year (act)         354,000    6,000   1,276,000    22,000

 

Boxed Beef: 

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

 

Cutout Values...              Choice       Select

Current Cutout Values:  223.90       202.30

Change from prior day:     -1.02          -1.09

Choice/Select spread:      21.60

Futures Summary: 

 

CME Feeder Cattle Index: 141.02… +0.07

June Live Cattle Futures: 107.92… -0.60

August Live Cattle Futures: 103.90… -0.40

October Live Cattle Futures: 106.92… -0.15

August Feeder Cattle Futures: 146.57… -0.15

September Feeder Cattle Futures: 146.67… -0.15

November Feeder Cattle Futures: 146.45… -0.50

July Hog Futures: 82.77… +1.32

 

National Grain Market Summary:

Compared to yesterday, cash bids for wheat mixed, corn, and soybeans were lower. The boost in yesterday's futures market was not carried over into todays session. Especially, in the soybean complex, as the uncertainty between US and China remains.  In addition, the soybean carryout projected on the supply and demand report caused some hesitation.

July Corn Futures: 3.7600… -0.0150

July Soybean Futures: 9.3600… -0.1800

July Wheat Futures: 5.1650… -0.1800

Kansas City Corn: 3.67... -01

Kansas City Soybeans: 9.31... -0.18

Kansas City Wheat: 5.59... +0.08

 

Nearby Crude Oil Futures Contract: 66.64… +0.28

Dow Jones Industrial Average: 25,248.57… -72.16

NASDAQ: 7,712.46… +8.67

U.S. Dollar Index: 93.55… -0.27