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Jun
21
2018

Texas Daily Ag Market News Summary

Posted 6 years 159 days ago by Administrator Account

Daily Market Summary for June 21st

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 for Thursday trading in the Southern Plains has been at a standstill. In Nebraska and the Western Cornbelt trading has been inactive on very light demand. Not enough trades for a market trend in any feeding region. 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: 1,581 Week Ago: 6,482 Year Ago: 11,166

Formula Net - Dressed Steers & Heifers

Head count priced today: 19,400

Weighted avg weight: 848.00

Weighted avg net price: 180.79

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Wednesday saw light trade develop with dressed sales marked at 240.00 delivered. Sales are positioned at the top end of last week's trading range. Live bids have been reported in the mid 140's on a live basis and are 3.00 higher than last week's weighted average price. Canfax released its June 1st cattle on feed report last Friday. Placements for the month of May were 3% larger than last year while fed cattle marketings were down over 5%. Cattle on feed inventories as of June 1st are larger than last year and the five-year average.

Livestock Slaughter under Federal Inspection:

CATTLE CALVES HOGS SHEEP

Thursday (est 121,000 2,000 444,000 8,000

Week ago (est) 116,000 2,000 443,000 8,000

Year ago (act) 116,000 1,000 437,000 9,000

Week to date (est) 478,000 8,000 1,744,000 32,000

Last Week (est) 468,000 8,000 1,782,000 32,000

Year (act) 468,000 7,000 1,735,000 33,000

Boxed Beef:

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

Cutout Values... Choice Select

Current Cutout Values: 217.41 201.61

Change from prior day: -0.88 +0.56

Choice/Select spread: 15.80

Futures Summary:

CME Feeder Cattle Index: 142.21… +0.80

June Live Cattle Futures: 108.65… -0.37

August Live Cattle Futures: 106.12… -0.53

October Live Cattle Futures: 109.00… -0.27

August Feeder Cattle Futures: 148.47… -0.95

September Feeder Cattle Futures: 149.25… -0.70

November Feeder Cattle Futures: 149.02… -0.60

July Hog Futures: 80.47… +0.45

National Grain Market Summary:

Compared to yesterday, cash bids for wheat, sorghum, and corn were mostly higher, while soybeans were lower. USDA said last week's export sales and shipments of corn totaled 6.5 and 69.4 million bushels respectively, hitting extremes on either end that we're calling neutral, overall. Last week's sales and shipments of soybeans totaled 11.1 and 36.4 million bushels, a neutral combination that put total shipments down 8% from a year ago. Wheat bookings came in at a respectable 17 million bu.