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Jun
27
2018

Texas Daily Ag Market News Summary

Posted 6 years 153 days ago by Administrator Account

Daily Market Summary for June 27th

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 Wednesday, trade and demand has been moderate in Kansas with live sales mostly 2.00 lower at 106.00 when compared to the bulk of last week. In Nebraska, trade and demand has been light to moderate with live sales mostly 3.00 lower at 106.00 when compared to the bulk of last week. A few early dressed trades in Nebraska were from 169.00 to 170.00. In the Texas Panhandle and Western Cornbelt, trade has been light with light to moderate demand. A few early dressed sales in Western Cornbelt were from 168.00 to 170.00. Last week the Western Cornbelt saw live sales from 108.00 to 109.00. In the Texas Panhandle last week, live trades were from 109.00 to110.00.

Negotiated Sales:

Confirmed: 23,111 Week Ago: 1,915 Year Ago: 12,238

Formula Net - Dressed Steers & Heifers

Head count priced today: 22,000

Weighted avg weight: 844.00

Weighted avg net price: 180.73

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 prices levels are unchanged from Monday. In terms of slaughter rates, summer fed cattle supplies are being worked through quite aggressively. With Saturday shifts being added to work week schedule. This would indicate packers are profitable and big slaughter volumes should support interest in the cash market.

Livestock Slaughter under Federal Inspection:

CATTLE CALVES HOGS SHEEP

Wednesday (est 119,000 2,000 452,000 8,000

Week ago (est) 119,000 2,000 437,000 7,000

Year ago (act) 118,000 2,000 441,000 7,000

Week to date (est) 350,000 6,000 1,334,000 25,000

Last Week (est) 357,000 6,000 1,300,000 24,000

Last Year (act) 351,000 6,000 1,315,000 22,000

Boxed Beef:

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

Cutout Values... Choice Select

Current Cutout Values: 215.30 200.88

Change from prior day: -1.53 -0.69

Choice/Select spread: 14.42

Futures Summary:

CME Feeder Cattle Index: 141.78… +0.03

June Live Cattle Futures: 107.02… +1.10

August Live Cattle Futures: 102.72… +0.30

October Live Cattle Futures: 106.15… +0.25

August Feeder Cattle Futures: 145.77… -0.33

September Feeder Cattle Futures: 146.47… -0.20

November Feeder Cattle Futures: 146.35… -0.25

July Hog Futures: 80.22… +1.10

National Grain Market Summary:

Compared to yesterday, cash bids for wheat was mixed; corn and beans were mostly higher and sorghum was steady. Volatility in the grain complex in recent weeks have led to farmers regrain from selling old and new crop inventories as crop commodity prices have declined considerably in the past 30 days. One crop production concern currently is yield potential, howevergeneticists this decade have made great strides when dealing with limited availability of moisture.