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Jun
15
2018

Texas Daily Ag Market News Summary

Posted 6 years 165 days ago by Administrator Account

Daily Market Summary for June 15th

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:

Friday in the Southern Plains trading has been at a standstill. In Nebraska and the Western Cornbelt trading has been mostly inactive on very light demand. Not enough trades for a market trend. Last week in the Southern Plains live cash trades were at 115.00. 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. In the Western Cornbelt Thursday was the last fully reported market with live cash trades from 110.00 to 112.00 and dressed trades from 176.00 to 181.00.

Negotiated Sales:

Confirmed: 3,479 Week Ago: 16,895 Year Ago: 9,456

Formula Net - Dressed Steers & Heifers

Head count priced today: 15,800

Weighted avg weight: 839.00

Weighted avg net price: 184.16

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Thursday saw light trade develop with dressed sales marked at 240.00 delivered. Sales are steady to 2.00 lower than the previous week. Some producers were negotiating lift dates for the second half of July delivery. Fed prices are on track to establish new lows this week. Feeding margins remain negative on the cattle being sold right now.

Livestock Slaughter under Federal Inspection:

CATTLE CALVES HOGS SHEEP

Friday (est 118,000 2,000 412,000 7,000

Week ago (est) 120,000 2,000 419,000 7,000

Year ago (act) 119,000 2,000 418,000 7,000

Week to date (est) 586,000 10,000 2,194,000 39,000

Last Week (est) 597,000 10,000 2,208,000 40,000

Last Year (act) 592,000 9,000 2,127,000 37,000

Saturday (est 68,000 0 21,000 1,000

Week ago (est) 61,000 0 63,000 1,000

Year ago (act) 46,000 0 51,000 1,000

Week to date (est) 654,000 10,000 2,215,000 40,000

Last Week (est) 658,000 10,000 2,271,000 41,000

Last Year* (act) 639,000 9,000 2,178,000 39,000

2018 YTD 14,759,00 243,000 56,151,000 921,000

2017 *YTD 14,319,00 228,000 54,615,000 887,000

Percent change +3.1% +6.7% +2.8% +3.9%

Boxed Beef:

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

Cutout Values... Choice Select

Current Cutout Values: 221.59 202.73

Change from prior day: -0.49 +0.76

Choice/Select spread: 18.86

Futures Summary:

CME Feeder Cattle Index: 140.73… +0.03

June Live Cattle Futures: 108.45… +2.20

August Live Cattle Futures: 104.77… +2.90

October Live Cattle Futures: 107.02… +2.22

August Feeder Cattle Futures: 147.97… +4.30

September Feeder Cattle Futures: 148.27… +3.47

November Feeder Cattle Futures: 147.85… +3.08

July Hog Futures: 81.72… +0.10

National Grain Market Summary:

Compared to last week, cash bids for wheat were mixed, while corn, sorghum, and soybeans were lower. The U.S.D.A. made moderate reductions to both old and new crop corn carryout projections in the June supply and demand report. World corn ending stocks were cut 4.46 million metric tons due to the smaller crops in South America and the elevated demand for U.S. corn. Reductions also took place in the U.S. soybean balance sheets. Old crop stocks were reduced 25 million bu for a 505 million bu total, and new crop decreased 30 million bu to a 385 million bu total. Very little was changed in the wheat balance sheets. Old crop stocks increased 20 million bu while new crop declined 9 million bu. While these were minimal changes, the simple fact that wheat stocks did not increase gave the complex some much needed support. USDA said last week's export sales and shipments of corn totaled 36.9 million bushels (mb) and 55.3 mb respectively, neutral amounts for the week that have total shipments down 8% in 2017-18 from a year ago. Last week's export sales and shipments of soybeans totaled 19.1 mb and 22.0 mb respectively, a neutral combination that kept total soybean shipments down 9% in 2017-18 from a year ago. Last week's export sales and shipments of new-crop wheat totaled 11.1 mb and 11.4 mb respectively, a bearish and uninspiring start to the 2018-19 season that has total shipments 57% lower than a year ago. Wheat was mixed from 31 1/4 cents lower to 13 cents higher. Corn was 5 1/4 to 13 1/4 cents lower. Sorghum was 23 to 26 cents lower. Soybeans were 39 to 47 cents lower.