(800)-Tell-TDA
835-5832

News & Events > Agriculture Market Summary

weekly-market-recap2

Jul
12
2018

Texas Daily Ag Market News Summary

Posted 6 years 138 days ago by Administrator Account

Daily Market Summary for July 12th

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:

So far for Thursday negotiated cash trading in the Southern Plains and Nebraska has been at a standstill. In the Western Cornbelt negotiated cash trading has been inactive on light demand. Not enough trades for a full market trend. 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: 246 Week Ago: 358 Year Ago: 25,338

Formula Net - Dressed Steers & Heifers

Head count priced today: 22,900

Weighted avg weight: 842.00

Weighted avg net price: 180.53

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Wednesday saw light trade develop with dressed sales ranging from 258.00-260.00 delivered. Sales are positioned at the top end of last week's trading range. Live bids are fully steady with last week's weighted average price.

Livestock Slaughter under Federal Inspection:

CATTLE CALVES HOGS SHEEP

Thursday (est 120,000 2,000 459,000 7,000

Week ago (est) 120,000 2,000 461,000 7,000

Year ago (act) 118,000 1,000 441,000 8,000

Week to date (est) 479,000 8,000 1,816,000 30,000

Last Week (est) 355,000 6,000 1,389,000 24,000

Last Year (act) 471,000 7,000 1,759,000 31,000

Boxed Beef:

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

Cutout Values... Choice Select

Current Cutout Values: 206.58 197.01

Change from prior day: -0.86 -0.13

Choice/Select spread: 9.57

Futures Summary:

CME Feeder Cattle Index: 147.16… +2.08

August Live Cattle Futures: 105.02… +1.17

October Live Cattle Futures: 107.60… +1.35

December Live Cattle Futures: 111.57… +0.90

August Feeder Cattle Futures: 151.02… +1.62

September Feeder Cattle Futures: 150.97… +1.55

November Feeder Cattle Futures: 151.27… +1.32

August Hog Futures: 70.42… +1.62

National Grain Market Summary:

Compared to yesterday, cash bids for wheat were steady to higher, corn and sorghum were higher, and soybeans were mixed. USDAs next round of World Agricultural Supply and Demand Estimates report was released today and fueled much of today’s trading. These new reports put US ending stocks for old crop corn at 1.552 billion bushels and new crop at 2.027 billion bushels, old crop soybeans estimated at 465 million bushels with new crop totaling 580 million bushels. New US ending stocks could be viewed as bullish for corn and neutral for soybeans. Average yield for soybeans was increased to 48.5 bushels per acre, and corn yield was unchanged at 174 bushels per acre. Wheat was steady to 13 cents higher. Corn was 5 3/4 to 9 3/4 cents higher. Soybeans were mixed from 7 1/4 cent lower to 3/4 of a cent higher. Sorghum was 10 1/2 cents higher.