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Jul
18
2018

Texas Daily Ag Market News Summary

Posted 6 years 132 days ago by Administrator Account

Daily Market Summary for July 18th

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 Wednesday negotiated cash 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: 262 Week Ago: 3,011 Year Ago: 12,893

Formula Net - Dressed Steers & Heifers

Head count priced today: 18,600

Weighted avg weight: 849.00

Weighted avg net price: 180.68

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Tuesday saw no new trade to report but there is a chance scattered trade could develop by this afternoon. Technical price levels have improved from the beginning of the week. Some producers have indicated all their July contract cattle have been delivered. Looking at a counter-seasonal rally for fed cattle prices along with historically strong basis levels. This has encouraged producers to market cattle.

Livestock Slaughter under Federal Inspection:

CATTLE CALVES HOGS SHEEP

Wednesday (est 119,000 2,000 461,000 7,000

Week ago (est) 120,000 2,000 456,000 7,000

Year ago (act) 117,000 2,000 441,000 7,000

Week to date (est) 355,000 6,000 1,353,000 23,000

Last Week (est) 359,000 6,000 1,357,000 23,000

Last Year (act) 343,000 6,000 1,294,000 23,000

Boxed Beef:

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

Cutout Values... Choice Select

Current Cutout Values: 204.80 197.09

Change from prior day: +0.41 +0.23

Choice/Select spread: 7.71

Futures Summary:

CME Feeder Cattle Index: 148.59… +0.22

August Live Cattle Futures: 108.95… +2.53

October Live Cattle Futures: 110.65… +2.15

December Live Cattle Futures: 114.20… +1.58

August Feeder Cattle Futures: 154.45… +3.18

September Feeder Cattle Futures: 154.65… +2.95

November Feeder Cattle Futures: 154.72… +2.72

August Hog Futures: 67.20… -0.70

Nearby Crude Oil Futures Contract: 68.76… +0.73

National Grain Market Summary:

Compared to yesterday, cash bids for wheat were mostly lower, corn, soybeans, and sorghum were mostly higher. USDA said last week’s ethanol production totaled 1.064 million barrels per day, 31,000 higher than the week prior. Ethanol stocks have dropped 625,000 barrels from the previous week.