Jun 18 2018

Texas Daily Ag Market News Summary Posted 6 years 162 days ago by Administrator Account

Daily Market Summary for June 18th

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Slaughter Cattle:

So far for Monday trading in the Southern Plains and Nebraska has been at a standstill. In the Western Cornbelt trading has been inactive on very light demand. Not enough trades for a market trend. For the prior week a light test of live and dressed trades was noted in all feeding regions. Last week in the Southern Plains live cash trades were from 112.00-113.00. In Nebraska for the prior week live cash trades were mostly at 110.00 and dressed trades were from 176.00-181.00. For previous week in the Western Cornbelt live cash trades were from 110.00-112.00 and dressed trades were from 176.00-181.00.

 

Negotiated Sales:

Confirmed: 221    Week Ago: 612    Year Ago: 1,170

 

Formula Net - Dressed Steers & Heifers:

Head count priced today: 58,500

Weighted avg weight:       843.00

Weighted avg net price:    185.20

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales last week saw light trade develop with weighted average steer and heifer prices closing the week at 142.50 and 141.50 respectively. Prices were 0.50-1.00 lower than the previous week. Most of the dressed sales last week were reported at 240.00 delivered. All reported cash sales traded locally. Cattle that traded last week were being sold for July delivery. Looking at the non-fed market butcher cows and bulls traded 1.00-3.00 lower through commercial auction facilities. Non-fed prices are 17.00-21.00 lower than last year.

 

Livestock Slaughter under Federal Inspection:

                               CATTLE     CALVES     HOGS     SHEEP

Monday (est           118,000    2,000     415,000     8,000

Week ago (est)      118,000    2,000     446,000     8,000

Year ago (act)        115,000    2,000     427,000     7,000

 

Boxed Beef: 

Head count priced today: 58,500

Weighted avg weight:        843.00

Weighted avg net price:    185.20

 

Cutout Values...              Choice       Select

Current Cutout Values:  220.71      204.20

Change from prior day:     -0.88        +1.47

Choice/Select spread:      16.51

 

Futures Summary: 

 

CME Feeder Cattle Index: 140.73

June Live Cattle Futures: 108.30… -0.15

August Live Cattle Futures: 105.17… +0.40

October Live Cattle Futures: 107.57… +0.55

August Feeder Cattle Futures: 148.97… +1.00

September Feeder Cattle Futures: 149.12… +0.85

November Feeder Cattle Futures: 148.62… +0.77

July Hog Futures: 83.72… +2.00

 

National Grain Market Summary:

Compared to yesterday, cash bids for wheat were mixed, corn was lower, while soybeans were higher.  China responded to Friday's new tariffs from the U.S. with a $34 billion tariff list of their own, this time including a 25% penalty on U.S. soybean imports.  While China's retaliatory move was expected, it still adds to bearish notions that relations with the world's largest buyer of soybeans are not getting better and the dispute may drag out for a long time.

 

July Corn Futures: 3.5600… -0.0525

July Soybean Futures: 9.0850… +3.00

July Wheat Futures: 4.9000… -0.0950

Kansas City Corn: 3.51… -0.05

Kansas City Soybeans: 9.03… +0.03

Kansas City Wheat: 5.30… -0.20

 

Nearby Crude Oil Futures Contract: 65.85… +0.79

Dow Jones Industrial Average: 24,987.54… -102.94

NASDAQ: 7,747.03… +0.65

U.S. Dollar Index: 94.79… -0.09