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Jun
26
2018

Texas Daily Ag Market News Summary

Posted 6 years 154 days ago by Administrator Account

Daily Market Summary for June 26th

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 Tuesday trading has been mostly inactive on light demand. Not enough trades in any feeding region for an adequate market test. The latest established market was last week in all feeding regions. Last week in the Texas Panhandle, live trades were from 109.00 to 110.00. In Kansas last week, live trades were mostly at 108.00. For the prior week in Nebraska, live purchases were mostly at 109.00, with dressed purchases mostly at 172.00. In the Western Cornbelt, last week saw live trades from 108.00 to 109.00 and dressed purchases from 172.00 to 173.00.

Negotiated Sales:

Confirmed: 467 Week Ago: 633 Year Ago: 654

Formula Net - Dressed Steers & Heifers

Head count priced today: 26,500

Weighted avg weight: 847.00

Weighted avg net price: 182.12

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Monday saw no new trade to report. This week's showlist has been compiled with volumes smaller than the previous week. Looking at the most recent weekly export data. Canadian fed cattle exports to the US totaled just over 3,800 head, volumes are 22% smaller compared to the same week last year.

Livestock Slaughter under Federal Inspection:

CATTLE CALVES HOGS SHEEP

Tuesday (est 115,000 2,000 447,000 9,000

Week ago (est) 120,000 2,000 448,000 9,000

Year ago (act) 117,000 2,000 440,000 9,000

Week to date (est) 231,000 4,000 882,000 17,000

Last Week (est) 238,000 4,000 863,000 17,000

Last Year (act) 233,000 4,000 874,000 15,000

Boxed Beef:

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

Cutout Values... Choice Select

Current Cutout Values: 216.83 201.57

Change from prior day: -0.86 -0.32

Choice/Select spread: 15.26

Futures Summary:

CME Feeder Cattle Index: 141.75… -0.53

June Live Cattle Futures: 105.92… -0.05

August Live Cattle Futures: 102.42… -0.48

October Live Cattle Futures: 105.90… -0.52

August Feeder Cattle Futures: 146.10… +0.33

September Feeder Cattle Futures: 146.67… +0.17

November Feeder Cattle Futures: 146.60… +0.28

July Hog Futures: 79.12… +1.05

National Grain Market Summary:

Compared to yesterday, cash bids for wheat and soybeans were mostly lower, while corn and sorghum were mostly higher. The ongoing trade issues in the global market added to market weakness, as did the high crop ratings we continue to see on the U.S. crops. There are several reports coming in of low quality wheat this year, as well as low protein content. It is not out of the question that a large amount of this could make it way into the feed grain market, if not domestically, globally.