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Jul
16
2018

Texas Daily Ag Market News Summary

Posted 6 years 134 days ago by Administrator Account

Daily Market Summary for July 16th

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 Monday trading has been inactive on very light demand. Not enough trades for a market trend. Last week in the Southern Plains live cash trades moved at 111.00. For the prior week in Nebraska live cash trades were from 109.50-111.00 and dressed trades were from 173.00-175.00 on a light test. In the Western Cornbelt the last fully reported market was two weeks ago with live trades mostly at 112.00 and dressed trades ranging from 175.00-180.00.

Negotiated Sales:

Confirmed: 70 Week Ago: 141 Year Ago: 67

Formula Net - Dressed Steers & Heifers

Head count priced today: 51,500

Weighted avg weight: 847.00

Weighted avg net price: 179.68

Alberta Beef Producers Daily Report:

Alberta direct cattle sales last week saw light trade develop with weighted average steer and heifer prices closing the week at 154.50 and 153.75 respectively. Prices are 2.00 higher than the previous week. In terms of fed cattle prices, the market continues to impress. At one point many were thinking summer fed cattle would be sold with large losses, however cattle that are being sold right now are close to breakeven levels. Looking at the non-fed market butcher cows traded 0.50 higher through commercial auction facilities last week.

Livestock Slaughter under Federal Inspection:

CATTLE CALVES HOGS SHEEP

Monday (est 119,000 2,000 431,000 8,000

Week ago (est) 119,000 2,000 444,000 7,000

Year ago (act) 108,000 2,000 417,000 7,000

Boxed Beef:

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

Cutout Values... Choice Select

Current Cutout Values: 203.76 195.67

Change from prior day: -0.38 -0.70

Choice/Select spread: 8.09

Futures Summary:

CME Feeder Cattle Index: 148.27… +0.11

August Live Cattle Futures: 106.92… +2.37

October Live Cattle Futures: 108.65… +1.28

December Live Cattle Futures: 112.70… +1.30

August Feeder Cattle Futures: 152.37… +1.65

September Feeder Cattle Futures: 152.45… +1.38

November Feeder Cattle Futures: 152.62… +1.27

August Hog Futures: 69.20… -0.95

National Grain Market Summary:

Compared to Friday, cash bids for wheat were lower, sorghum was mixed, corn and soybeans were higher. USDA said last week 47.9 million bushels of corn, 23.3 million bushels of soybeans, and 17.3 million bushels of wheat were inspected for export. Neutral to bearish numbers for both commodities. The NOPA crush report for June was released today showing 159.2 million bushels of soybeans were crushed last month. These updated values put current yearly crush numbers 7% higher than a year ago.