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Jul
06
2018

Texas Daily Ag Market News Summary

Posted 6 years 144 days ago by Administrator Account

Daily Market Summary for July 6th

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 in the Southern Plains, Nebraska and the Western Cornbelt saw trading active on good demand. Compared to last week in the Texas Panhandle live cash trades moved 5.00 to 5.50 higher from 112.00 to 113.50 with the bulk at 113.00. Compared to the prior week in Kansas live cash trades moved 6.00 higher at 112.00 with a few up to 113.00. In Nebraska when compared to the previous week saw live cash trades 6.5 to 7.5 higher from 113.50 to 114.00 and dressed cash trades moved 10.00 to 11.00 higher mostly at 180.00. In the Western Cornbelt when compared to last week live cash trades moved 3.00 to 7.00 higher mostly at 112.00 and dressed cash tradesmoved 5.00 to 10.00 from 175.00 to 180.00

Negotiated Sales:

Confirmed: 99,268 Week Ago: 34,021 Year Ago: 7,191

Formula Net - Dressed Steers & Heifers

Head count priced today: 18,300

Weighted avg weight: 862.00

Weighted avg net price: 171.87

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Thursday saw light trade develop with dressed sales marked at 256.00 delivered. Sales are 7.00-9.00 higher than the previous week. A stronger price tone was noted from Wednesday to Thursday. Cash to futures basis levels did strengthen which did encourage producers to market cattle. From their lows fed prices have rallied 9.00 and are now trading at the highest level since point since May.

Livestock Slaughter under Federal Inspection:

CATTLE CALVES HOGS SHEEP

Friday (est 119,000 2,000 451,000 7,000

Week ago (est) 119,000 2,000 435,000 5,000

Year ago (act) 120,000 3,000 424,000 7,000

Week to date (est) 474,000 8,000 1,840,000 31,000

Last Week (est) 589,000 10,000 2,219,000 37,000

Last Year (act) 471,000 8,000 1,677,000 26,000

Saturday (est 88,000 0 148,000 1,000

Week ago (est) 57,000 0 20,000 1,000

Year ago (act) 76,000 0 200,000 2,000

Week to date (est) 562,000 8,000 1,988,000 32,000

Last Week (est) 646,000 10,000 2,239,000 38,000

Last Year* (act) 547,000 8,000 1,877,000 29,000

2018 YTD 16,622,00 271,000 62,535,000 1,027,000

2017 *YTD 16,143,00 255,000 60,847,000 992,000

Percent change +3.0% +6.5% +2.8% +3.6%

Boxed Beef:

Boxed beef cutout values steady to weak on light to moderate demand and moderate to heavy offerings. Select and Choice rib, chuck, round, and loin cuts steady to firm. Beef trimmings mostly moderately higher on moderate to good demand and moderate offerings.

Cutout Values... Choice Select

Current Cutout Values: 208.03 198.71

Change from prior day: -0.40 +0.01

Choice/Select spread: 9.32

Futures Summary:

CME Feeder Cattle Index: 145.15… +0.42

August Live Cattle Futures: 106.37… Unchanged

October Live Cattle Futures: 109.62… -0.50

December Live Cattle Futures: 113.70… -0.57

August Feeder Cattle Futures: 152.20… -0.37

September Feeder Cattle Futures: 152.27… -0.30

November Feeder Cattle Futures: 152.15… -0.37

August Hog Futures: 75.42… -0.63

National Grain Market Summary:

Compared to last week, cash bids for wheat were mostly higher, corn and sorghum were mixed, while soybeans were lower. As expected, new tariffs of $34 billion from each, the U.S. and China, went into effect early Friday and the overall market response has been mild, even as the U.S. threatens to impose more. The other bearish risk for soybeans is that the U.S. will have another big fall harvest and so far, that is looking probable. Corn is being indirectly affected by the soybean tariffs as buyers bow out of the market. World wheat production estimates are expected to drop slightly next week, but prices still remain bearish as global stocks are still plentiful. Wheat was steady to 18 cents higher. Corn was 4 to 17 cents higher. Soybeans were 36 1/4 to 38 1/4 cents higher. Sorghum was 15 1/4 cents higher.