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Aug
01
2018

Texas Daily Ag Market News Summary

Posted 6 years 118 days ago by Administrator Account

Daily Market Summary for August 1st

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:

Wednesday trading in the Texas Panhandle and Colorado has been at a standstill. In Kansas, Nebraska and the Western Cornblet trading has been inactive with very light demand. Not enough trades for a market trend. Last week in the Southern and Northern Plains live cash trades moved at 112.00 and in Nebraska a very light test of dressed cash trades moved at 178.00. For the prior week in the Western Cornbelt live cash trades moved at 110.00 and dressed cash trades moved at 178.00 on a very light test.

Negotiated Sales:

Confirmed: 1,040 Week Ago: 93 Year Ago: 16,316

Formula Net - Dressed Steers & Heifers

Head count priced today: 21,300

Weighted avg weight: 858.00

Weighted avg net price: 179.68

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 prices levels have eased since Monday. Packers will be pulling hard on August contract cattle which could moderate interest in the cash market. Seasonally carcass weights are increasing. Western Canadian steer carcass weights averaged 861 lbs, weights are now equal with last year.

Livestock Slaughter under Federal Inspection:

CATTLE CALVES HOGS SHEEP

Wednesday (est 120,000 2,000 459,000 7,000

Week ago (est) 119,000 2,000 381,000 7,000

Year ago (act) 117,000 2,000 443,000 7,000

Week to date (est) 352,000 6,000 1,343,000 23,000

Last Week (est) 350,000 6,000 1,259,000 22,000

Last Year (act) 344,000 5,000 1,306,000 22,000

Boxed Beef:

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

Cutout Values... Choice Select

Current Cutout Values: 203.75 197.58

Change from prior day: -0.52 -0.80

Choice/Select spread: 6.17

Futures Summary:

CME Feeder Cattle Index: 149.39... +0.35

August Live Cattle Futures: 108.62… +0.95

October Live Cattle Futures: 110.27… +0.97

December Live Cattle Futures: 114.02… +1.05

August Feeder Cattle Futures: 151.82… +2.50

September Feeder Cattle Futures: 151.95… +2.38

November Feeder Cattle Futures: 152.22… +2.27

September Hog Futures: 50.77… +0.05

Nearby Crude Oil Futures Contract: 68.76

National Grain Market Summary:

Compared to yesterday, cash bids for wheat were mixed, while corn, soybeans, and sorghum were lower. CNBC.com reported the White House is going to propose increasing $200 billion of tariffs on Chinese goods from 10% to 25%, just one day after Bloomberg news reported Treasury Secretary Mnuchin was having private conversations with China in hopes of finding a solution to the current trade dispute.