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Jul
20
2018

Texas Daily Ag Market News Summary

Posted 6 years 130 days ago by Administrator Account

Daily Market Summary for July 20th

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 Friday negotiated cash trading in the Texas Panhandle has been at a standstill. In Kansas and Nebraska negotiated cash trading has been inactive on very light demand. In the Western Cornbelt cash trading has been slow on light demand. A few early dressed trades have moved at 180.00. However, not enough trades for a full 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: 5,044 Week Ago: 3,700 Year Ago: 38,738

Formula Net - Dressed Steers & Heifers

Head count priced today: 19,100

Weighted avg weight: 848.00

Weighted avg net price: 176.33

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Thursday saw light trade develop with prices weakening from Wednesday to Thursday. Dressed sales were reported at 255.00 delivered. Sales are at the bottom end of last week's trading range. Buyers were indicating cattle that they bought this week were being scheduled for the first half of August delivery.

Livestock Slaughter under Federal Inspection:

CATTLE CALVES HOGS SHEEP

Friday (est 119,000 2,000 434,000 6,000

Week ago (est) 118,000 2,000 438,000 6,000

Year ago (act) 115,000 2,000 425,000 6,000

Week to date (est) 595,000 10,000 2,234,000 36,000

Last Week (est) 597,000 10,000 2,249,000 36,000

Last Year (act) 572,000 9,000 2,157,000 37,000

Saturday (est 40,000 0 148,000 1,000

Week ago (est) 53,000 0 26,000 0

Year ago (act) 45,000 0 47,000 0

Week to date (est) 635,000 10,000 2,382,000 37,000

Last Week (est) 650,000 10,000 2,275,000 36,000

Last Year* (act) 618,000 10,000 2,203,000 37,000

2018 YTD 17,918,00 294,000 67,189,000 1,097,000

2017 *YTD 17,384,00 274,000 65,247,000 1,065,000

Percent change +3.1% +7.4% +3.0% +3.0%

Boxed Beef:

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

Cutout Values... Choice Select

Current Cutout Values: 204.17 197.00

Change from prior day: -0.32 +0.08

Choice/Select spread: 7.17

Futures Summary:

CME Feeder Cattle Index: 148.02… -0.29

August Live Cattle Futures: 108.92… +0.02

October Live Cattle Futures: 110.25… -0.40

December Live Cattle Futures: 114.20… -0.22

August Feeder Cattle Futures: 153.67… -0.78

September Feeder Cattle Futures: 154.55… -0.22

November Feeder Cattle Futures: 154.77… -0.15

August Hog Futures: 66.45… -0.80

Nearby Crude Oil Futures Contract: 70.46… +1.00

National Grain Market Summary:

Compared to last week, cash bids for wheat, corn, and sorghum were mixed, while soybeans were higher. Weather is a key factor in crop condition this time of year, but the futures market doesn't appear to be concerned with it this year as yields in recent years haven't suffered despite weather conditions. USDA said last week's export sales and shipments of corn totaled 25.2 and 50.9 million bushels respectively, a neutral showing for the week that put total corn shipments at 1.884 billion bushels, down 3% in 2017-18 from a year ago. Corn has seven more weeks to reach USDA's 2.400 billion bushel estimate and will probably fall short of the goal. Last week's export sales and shipments of soybeans totaled 9.3 and 22.2 million bushels respectively, a neutral combination that shows soybeans struggling to keep up with USDA's new export estimate of 2.085 billion bushels. Last week's export sales and shipments of wheat totaled 11.0 and 16.0 million bushels respectively, more than last week's amounts, but still a long way below USDA's expectations for 2018-19. Wheat was mixed from 23 cents lower to 23 1/4 cents higher. Corn was mixed from 11 1/2 cents lower to 10 1/2 cents higher. Sorghum was mixed from 23 cents lower to 10 cents higher. Soybeans were 6 1/4 to 17 1/4 cents higher.