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Jul
05
2018

Texas Daily Ag Market News Summary

Posted 6 years 145 days ago by Administrator Account

Daily Market Summary for July 5th

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 has been at a standstill in the Texas Panhandle, Nebraska and the Western Cornbelt. In Kansas trading has been inactive with very light demand. Not enough trades for a market trend. Last week in the Texas Panhandle, live trades were from 107.00-108.00. In Kansas for the prior week, live cash trades moved at 106.00. For the previous week in Nebraska, live trades were from 106.00-107.50 and with dressed trades mostly from 169.00-170.00. In the Western Cornbelt last week, live trades ranged from 105.00-109.00 and with dressed purchases mostly at 170.00.

Negotiated Sales:

Confirmed: 358 Week Ago: 13,044 Year Ago: 34,089

Formula Net - Dressed Steers & Heifers

Head count priced today: 17,700

Weighted avg weight: 846.00

Weighted avg net price: 174.63

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Wednesday saw light trade develop with dressed sales marked at 250.00 delivered. Sales are 1.00-3.00 higher than the previous week. By Wednesday afternoon it was sounding like packers had raised bids yet again. No live bids have been reported however using a 60% dressing percentage dressed sales are working pack to the upper 140's to low 150's on a live basis.

Livestock Slaughter under Federal Inspection:

CATTLE CALVES HOGS SHEEP

Thursday (est 120,000 2,000 461,000 8,000

Week ago (est) 120,000 2,000 450,000 7,000

Year ago (act) 118,000 2,000 442,000 7,000

Week to date (est) 355,000 6,000 1,389,000 25,000

Last Week (est) 470,000 8,000 1,784,000 32,000

Last Year (act) 351,000 5,000 1,253,000 19,000

Boxed Beef:

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

Cutout Values... Choice Select

Current Cutout Values: 208.43 198.70

Change from prior day: -1.83 -1.01

Choice/Select spread: 9.73

Futures Summary:

CME Feeder Cattle Index: 144.73… +1.31

August Live Cattle Futures: 106.37… -0.08

October Live Cattle Futures: 110.12… +0.02

December Live Cattle Futures: 114.27… +0.12

August Feeder Cattle Futures: 152.57… -0.23

September Feeder Cattle Futures: 152.57… -0.03

November Feeder Cattle Futures: 152.52… +0.30

August Hog Futures: 76.05… +0.05

National Grain Market Summary:

Compared to Tuesday, cash bids for sorghum and wheat were mostly higher, soybeans were lower, while corn was mixed. Lingering concerns of uncertainty of tomorrow’s tariff deadline and what retaliatory actions will be seen kept soybeans under pressure. Wheat benefited today from more reports of wheat problems across Europe.