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Jun
29
2018

Texas Daily Ag Market News Summary

Posted 6 years 151 days ago by Administrator Account

Daily Market Summary for June 29th

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:

Friday trade has been moderate with good demand in the Texas Panhandle and Nebraska. The Texas Panhandle has saw live trades 2.00 lower from 107.00 to 108.00 when compared to last week. In Nebraska, compared to Wednesday live trades were mostly 1.50 higher at 107.50, with a few up to 108.00. In Kansas and the Western Cornbelt, trade has been limited on good demand. A few live sales in Kansas traded at 108.00; however, not enough trades in either feeding region for a full market trend. On Wednesday, live sales in Kansas were at 106.00. Thus far for the week in the Western Cornbelt, live trades have ranged from 105.00 to 109.00, with dressed trades from 168.00 to 172.00, mostly at 170.00.

Negotiated Sales:

Confirmed: 34,021 Week Ago: 29,323 Year Ago: 7,687

Formula Net - Dressed Steers & Heifers

Head count priced today: 23,800

Weighted avg weight: 840.00

Weighted avg net price: 175.07

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Thursday saw light trade develop with dressed sales ranging from 247.00-248.00 delivered. Sales are 3.00-7.00 higher than the previous week. Most of the cattle that traded this week were being scheduled for the week of July 9th and July 16th delivery. Cash to futures basis levels did strengthen which did encourage producers to market cattle.

Livestock Slaughter under Federal Inspection:

CATTLE CALVES HOGS SHEEP

Friday (est 119,000 2,000 435,000 5,000

Week ago (est) 119,000 2,000 424,000 7,000

Year ago (act) 119,000 3,000 419,000 6,000

Week to date (est) 589,000 10,000 2,219,000 37,000

Last Week (est) 597,000 10,000 2,168,000 39,000

Last Year (act) 586,000 10,000 2,177,000 35,000

Saturday (est 57,000 0 20,000 1,000

Week ago (est) 67,000 0 0 1,000

Year ago (act) 52,000 0 23,000 1,000

Week to date (est) 646,000 10,000 2,239,000 38,000

Last Week (est) 664,000 10,000 2,168,000 40,000

Last Year* (act) 638,000 9,000 2,200,000 36,000

2018 YTD 16,065,000 264,000 60,551,000 1,000,000

2017 *YTD 15,596,000 246,000 58,970,000 962,000

Percent change +3.0% +7.2% +2.7% +3.9%

Boxed Beef:

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

Cutout Values... Choice Select

Current Cutout Values: 211.96 198.57

Change from prior day: -1.28 -2.09

Choice/Select spread: 13.39

Futures Summary:

CME Feeder Cattle Index: 142.00… -0.55

August Live Cattle Futures: 106.72… +3.00

October Live Cattle Futures: 110.02… +3.00

December Live Cattle Futures: 113.70… +2.38

August Feeder Cattle Futures: 151.32… +4.50

September Feeder Cattle Futures: 150.95… +3.58

November Feeder Cattle Futures: 150.07… +2.80

July Hog Futures: 82.87… +1.75

National Grain Market Summary:

Compared to last week, cash bids for wheat, corn, soybeans, and sorghum were lower. The biggest threat to crops in the Corn Belt currently is too much rain. While some of the Corn Belt is still dry, a large portion is dealing with flooded fields. USDA said last week's export sales and shipments of corn totaled 33.5 and 58.3 million bushels respectively, a neutral showing that has total U.S. corn shipments down 6% in 2017-18 with just over two months left in the season. Thursday's export sales report was neutral for soybeans after USDA reported 13.2 million bushels of soybean sales and 18.4 million bushels of shipments for last week.

Total shipments are now down 7% in 2017-18 from a year ago and are within reach of USDA's export estimate. Last week's export sales and shipments of wheat totaled 20.7 and 13.1 million bushels respectively, putting total wheat shipments down 50% from a year ago in its first month of 2018-19. Wheat was 10 to 45 1/4 cents lower. Corn was 4 3/4 to 12 cents lower. Sorghum was 21 to 23 cents lower. Soybeans were 12 ¼ to 19 1/4 cents lower.