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Jul
26
2018

Texas Daily Ag Market News Summary

Posted 6 years 124 days ago by Administrator Account

Daily Market Summary for July 26th

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 Thursday in the Southern Plains and Nebraska trading has been at a standstill. 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: 687 Week Ago: 77 Year Ago: 11,385

Formula Net - Dressed Steers & Heifers

Head count priced today: 21,500

Weighted avg weight: 865.00

Weighted avg net price: 179.13

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Wednesday saw no new trade to report. Dressed bids have been reported from 250.00-252.00 delivered. Bids are 5.00 lower than the previous week. Live bids have been reported in the low 150's and are sitting a couple dollars lower than last week's weighted average.

Livestock Slaughter under Federal Inspection:

CATTLE CALVES HOGS SHEET

Thursday (est 121,000 2,000 367,000 7,000

Week ago (est) 121,000 2,000 447,000 7,000

Year ago (act) 118,000 2,000 442,000 7,000

Week to date (est) 471,000 8,000 1,626,000 29,000

Last Week (est) 476,000 8,000 1,800,000 30,000

Last Year (act) 464,000 7,000 1,744,000 30,000

Boxed Beef:

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

Cutout Values... Choice Select

Current Cutout Values: 204.691 198.27

Change from prior day: +0.27 +0.69

Choice/Select spread: 6.64

Futures Summary:

CME Feeder Cattle Index: 149.21… +1.04

August Live Cattle Futures: 107.95… -1.07

October Live Cattle Futures: 109.37… -1.40

December Live Cattle Futures: 113.65… -1.15

August Feeder Cattle Futures: 151.42… -1.40

September Feeder Cattle Futures: 151.82… -1.43

November Feeder Cattle Futures: 152.87… -1.58

August Hog Futures: 64.90… -1.50

Nearby Crude Oil Futures Contract: 69.61… +0.31

National Grain Market Summary:

Compared to yesterday, cash bids for wheat, corn, and soybeans were mixed, while sorghum was higher. USDA said last week's export sales and shipments of corn for 2017-18 totaled 13.3 million bushels (mb) and 50.5 mb respectively, a bearish combination for the week that is aiming 200 mb below USDA's export estimate of 2.4 billion bushels (bb). Last week's export sales and shipments of soybeans totaled 19.8 mb and 30.3 mb respectively, a neutral amount for the week. Last week's export sales and shipments of wheat totaled 14.2 mb and 15.0 mb respectively. The sales showed modest improvement from the previous week, but both numbers are well below USDA's anticipated pace for 2018-19.