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Jul
25
2018

Texas Daily Ag Market News Summary

Posted 6 years 125 days ago by Administrator Account

Daily Market Summary for July 25th

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 trading has been at a standstill. 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: 93 Week Ago: 262 Year Ago: 30,028

Formula Net - Dressed Steers & Heifers

Head count priced today: 16,100

Weighted avg weight: 845.00

Weighted avg net price: 179.26

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 eased since Monday. There are a few things that have to be considered bullish news for the western Canadian beef industry. Slaughter volumes have been large, beef exports have been very good and basis levels remain historically strong.

Livestock Slaughter under Federal Inspection:

CATTLE CALVES HOGS SHEEP

Wednesday (est 119,000 2,000 381,000 7,000

Week ago (est) 119,000 2,000 461,000 7,000

Year ago (act) 117,000 2,000 444,000 7,000

Week to date (est) 350,000 6,000 1,259,000 22,000

Last Week (est) 355,000 6,000 1,353,000 23,000

Last Year (act) 346,000 5,000 1,302,000 23,000

Boxed Beef:

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

Cutout Values... Choice Select

Current Cutout Values: 204.64 197.58

Change from prior day: -0.01 -0.37

Choice/Select spread: 7.06

Futures Summary:

CME Feeder Cattle Index: 148.17… -0.10

August Live Cattle Futures: 109.02… +0.97

October Live Cattle Futures: 110.77… +0.45

December Live Cattle Futures: 114.80… +0.18

August Feeder Cattle Futures: 152.82… +0.07

September Feeder Cattle Futures: 153.25… -0.27

November Feeder Cattle Futures: 154.45… -0.10

August Hog Futures: 66.40… +0.85

Nearby Crude Oil Futures Contract: 69.30… +0.78

National Grain Market Summary:

Compared to last week, cash bids for corn, wheat, soybeans, and sorghum were higher. Wheat prices turned bullish today, supported by higher milling wheat in Europe. This spilled over into the soy complex and corn markets as well. Ethanol manufacturing for week ending July 20th totaled 1.074 million barrels per day, 10,000 higher that the previous week.