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Jul
17
2018

Texas Daily Ag Market News Summary

Posted 6 years 133 days ago by Administrator Account

Daily Market Summary for July 17th

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 Tuesday negotiated cash trading has been at a standstill. 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: 111 Week Ago: 284 Year Ago: 2,977

Formula Net - Dressed Steers & Heifers

Head count priced today: 25,300

Weighted avg weight: 847.00

Weighted avg net price: 180.55

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Monday saw no new trade to report. This week's showlist has been compiled with volumes larger than the previous week. Looking at the most recent export data. Weekly Canadian fed exports to the US totaled just over 6,500 head. This is the fourth largest weekly export volume seen this year. YTD Canadian fed exports to the US are down 18% compared to last year. Last week Alberta fed prices were at a premium over both the Ontario and Nebraska markets.

Livestock Slaughter under Federal Inspection:

CATTLE CALVES HOGS SHEEP

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

Week ago (est) 120,000 2,000 457,000 9,000

Year ago (act) 118,000 2,000 436,000 9,000

Week to date (est) 236,000 4,000 892,000 16,000

Last Week (est) 239,000 4,000 901,000 16,000

Last Year (act) 226,000 4,000 853,000 16,000

Boxed Beef:

Boxed beef cutout values firm to higher on moderate to fairly good demand and moderate to heavy offerings. Select and Choice round and loin cuts steady while rib cuts steady to firm. Choice chuck cuts steady while Select higher. Beef trimmings unevenly steady on moderate demand and offerings.

Cutout Values... Choice Select

Current Cutout Values: 204.39 196.86

Change from prior day: +0.63 +1.19

Choice/Select spread: 7.53

Futures Summary:

CME Feeder Cattle Index: 148.37… +0.10

August Live Cattle Futures: 106.42… -0.50

October Live Cattle Futures: 108.50… -0.15

December Live Cattle Futures: 112.62… -0.08

August Feeder Cattle Futures: 151.27… -1.10

September Feeder Cattle Futures: 151.70… -0.75

November Feeder Cattle Futures: 152.00… -0.62

August Hog Futures: 67.90… -1.30

National Grain Market Summary:

Compared to yesterday, cash bids for wheat were mixed, corn, soybeans, and sorghum were higher. Grains gained some support today from a lower USDA crop rating. Updated corn crop ratings show 72% good to excellent, and soybean crop ratings show 69% good to excellent, both figures remain lower than year ago values. USDA also put winter wheat at 74% harvested with 80% good to excellent.