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Jul
24
2018

Texas Daily Ag Market News Summary

Posted 6 years 126 days ago by Administrator Account

Daily Market Summary for July 24th

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:

Tuesday negotiated cash trading has been at a standstill in the Southern Plains and Nebraska. In the Western Cornbelt trading has been inactive on very light demand. Not enough trades for a market trend. Last week in the Southern Plains and Nebraska live cash trades moved at 113.00 and dressed cash trades in Nebraska moved from 178.00-181.00. For the prior week in the Western Cornbelt live cash trades moved mostly at 112.00 and dressed trades moved from 178.00-180.00.

Negotiated Sales:

Confirmed: 313 Week Ago: 111 Year Ago: 1,659

Formula Net - Dressed Steers & Heifers

Head count priced today: 25,300

Weighted avg weight: 845.00

Weighted avg net price: 179.77

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 steady with the previous week. Last week on a cash to cash basis Alberta fed prices were at a 3.50 premium over the Nebraska market. For the week ending July 14th Western Canadian fed slaughter volumes totaled just over 42,000 head. Volumes are steady with the same week last year.

Livestock Slaughter under Federal Inspection:

CATTLE CALVES HOGS SHEEP

Tuesday (est 120,000 2,000 457,000 8,000

Week ago (est) 120,000 2,000 461,000 8,000

Year ago (act) 119,000 2,000 446,000 9,000

Week to date (est) 231,000 4,000 878,000 15,000

Last Week (est) 236,000 4,000 892,000 16,000

Last Year (act) 229,000 3,000 858,000 16,000

Boxed Beef:

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

Cutout Values... Choice Select

Current Cutout Values: 204.65 197.95

Change from prior day: -0.17 -0.08

Choice/Select spread: 6.70

Futures Summary:

CME Feeder Cattle Index: 148.27… -0.22

August Live Cattle Futures: 108.05… -0.67

October Live Cattle Futures: 110.32… -0.28

December Live Cattle Futures: 114.62… -0.28

August Feeder Cattle Futures: 152.75… -0.50

September Feeder Cattle Futures: 153.52… -0.80

November Feeder Cattle Futures: 154.55… -0.60

August Hog Futures: 65.55… -0.87

Nearby Crude Oil Futures Contract: 68.52… +0.63

National Grain Market Summary:

Compared to yesterday, cash bids for wheat, corn, and sorghum were mostly lower, while soybeans were higher. So far, 2018 has the third best good-to-excellent corn rating of the past five years, which suggests a high national yield again this fall. Corn exports have been at a decent pace lately, but are still 3% below a year ago with roughly seven weeks left in the marketing year2017-18. In wheat, world ending supplies of exportable wheat are expected to be down in 2018-19, but so far, the U.S. and Europe have enough to keep customers comfortable.