Jul 09 2018

Texas Daily Ag Market News Summary Posted 6 years 141 days ago by Administrator Account

Daily Market Summary for July 9th

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Slaughter Cattle:

Thus far Monday, negotiated cash trade was mostly inactive on light demand in all feeding regions. The latest established market was last week, with live purchases in the Texas Panhandle mostly at 113.00. Last week in Kansas, live purchases traded mostly at 112.00 with a few up to 113.00. Last week in Nebraska, the bulk of live purchases traded from 113.50-114.00 with dressed purchases mostly at 180.00. In the Western Cornbelt for the previous week, live purchases traded mostly at 112.00, with dressed purchases ranging from 175.00-180.00.

 

Negotiated Sales:

Confirmed: 141    Week Ago: none    Year Ago: 1,481

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 55,000

Weighted avg weight:           839.00

Weighted avg net price:       170.86

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales last week saw active trade with average prices $4.50-5.00/cwt higher than the previous week and generally $10.00 higher than the same week last year. The majority of dressed sales were reported from $255.00-260.00 delivered. Following last week’s cash market blowout, this week’s fed offering is anticipated generally steady.

 

Livestock Slaughter under Federal Inspection:

                                 CATTLE    CALVES    HOGS        SHEEP

Monday (est           119,000    2,000     444,000     8,000

Week ago (est)       116,000    2,000     463,000     8,000

Year ago (act)        118,000    2,000     437,000     7,000

 

Boxed Beef: 

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

 

Cutout Values...              Choice       Select

Current Cutout Values:  206.92      198.62

Change from prior day:    -1.11        -0.09

Choice/Select spread:       8.30

 

Futures Summary: 

 

CME Feeder Cattle Index: 146.48… +1.33

August Live Cattle Futures: 106.12… -0.25

October Live Cattle Futures: 108.62… -1.00

December Live Cattle Futures: 112.95… -0.75

August Feeder Cattle Futures: 151.45… -0.75

September Feeder Cattle Futures: 151.77… -0.50

November Feeder Cattle Futures: 151.72… -0.43

August Hog Futures: 72.77… -2.65

 

National Grain Market Summary:

Compared to Friday, cash bids for corn, soybeans, sorghum, and wheat were mostly lower.  The majority of last Friday’s advances in the market were erased today.  This change was brought on by renewed trade worries and more favorable weather forecasts.  The trend remains down for all three commodities.

 

September Corn Futures: 3.5400… -0.0625

August Soybean Futures: 8.5575… -0.2175

September Wheat Futures: 5.0800… -0.0725

Kansas City Corn: 3.57... -0.03

Kansas City Soybeans: 8.48... -0.22

Kansas City Wheat: 5.36... -0.07

 

Nearby Crude Oil Futures Contract: 73.85… +0.05

Dow Jones Industrial Average: 24,776.59… +320.11

NASDAQ: 7,756.20… +67.81

U.S. Dollar Index: 94.10… +0.12