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Jun
28
2018

Texas Daily Ag Market News Summary

Posted 6 years 152 days ago by Administrator Account

Daily Market Summary for June 28th

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 trade has been light with light to moderate demand in the Western Cornbelt. In the Western Cornbelt, live trades have been from 105.00 to 106.00. Thus far for the week in the Western Cornbelt, live purchases have been steady to 3.00 lower from 105.00 to 109.00 and dressed trades have ranged from 168.00 to 172.00, mostly at 170.00. In Nebraska, Kansas, and the Texas Panhandle, trade has been limited on light demand. The last established market in Nebraska was on Wednesday with live trades at 106.00 and dressed trades from 169.00 to 172.00, mostly from 169.00 to 170.00. On Wednesday in Kansas live trades were reported at 106.00. In the Texas Panhandle, the latest established market was last week with live trades from 109.00 to 110.00.

Negotiated Sales:

Confirmed: 13,044 Week Ago: 1,581 Year Ago: 34,659

Formula Net - Dressed Steers & Heifers

Head count priced today: 21,500

Weighted avg weight: 851.00

Weighted avg net price: 177.04

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Wednesday saw no new trade to report. There have been rumblings dressed bids have been herd up to 247.00 delivered. Bids are 2.00-7.00 higher than the previous week. Live been have been reported in the upper 140's and are a couple dollars higher than last week's weighted average price. It appears the Alberta fed market will regains its premium over the US market.

Livestock Slaughter under Federal Inspection:

CATTLE CALVES HOGS SHEEP

Thursday (est 120,000 2,000 450,000 7,000

Week ago (est) 121,000 2,000 444,000 8,000

Year ago (act) 116,000 1,000 443,000 7,000

Week to date (est) 470,000 8,000 1,784,000 32,000

Last Week (est) 478,000 8,000 1,744,000 32,000

Last Year (act) 467,000 7,000 1,758,000 29,000

Boxed Beef:

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

Cutout Values... Choice Select

Current Cutout Values: 213.24 200.66

Change from prior day: -2.06 -0.22

Choice/Select spread: 12.58

Futures Summary:

CME Feeder Cattle Index: 142.55… +0.77

June Live Cattle Futures: 108.20… +1.18

August Live Cattle Futures: 103.72… +1.00

October Live Cattle Futures: 107.02… +0.87

August Feeder Cattle Futures: 146.82… +1.05

September Feeder Cattle Futures: 147.37… +0.90

November Feeder Cattle Futures: 147.27… +0.80

July Hog Futures: 81.12… +0.90

National Grain Market Summary:

Compared to yesterday, cash bids for corn, soybeans, and sorghum were lower, while wheat was mixed. Export sales for the week ending June 21st were all at or above trade expectations. Corn bookings were split with 33.5 million bu old crop and 25.1 million bu new crop. Soybean bookings came in with 13.2 million bu old crop and 23.6 million bu new crop. Wheat sales were a solid 20.7 million bu.