Aug 06 2018

Texas Daily Ag Market News Summary Posted 5 years 262 days ago by Administrator Account

Daily Market Summary for August 6th 
 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!

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Slaughter Cattle:

On Monday negotiated cash trade was light on light to moderate demand in Nebraska with a few early live purchases at 112.50, however not enough purchases for an adequate market test. Trade was mostly inactive on light demand in all other feeding regions. The latest established market in the Southern Plains and Colorado was last week, with live purchases at 114.00. In Nebraska last week, live purchases traded from 113.00-114.00 with the bulk of dressed purchases at 178.00, with a few up to 180.00. For the previous week in the Western Cornbelt for the previous week, the bulk of live purchases traded at 112.00, with a few up to 114.00. The bulk of dressed purchases last week, traded at 178.00 with a few up to 181.00.

 

Negotiated Sales:

Confirmed: 3,732    Week Ago: 586    Year Ago: 1,589

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 51,900

Weighted avg weight:        846.00

Weighted avg net price:    177.62

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sale so far this week have seen light trade develop with dressed sales marked at 245.00 delivered. Sales are 3.00-8.00 lower than last week. Over the past three weeks fed prices have dropped 8.00. Cattle that they were bought this week were being scheduled for the week of August 20th delivery. Cash to futures basis did weaken this week.

 

Livestock Slaughter under Federal Inspection:                                  

                                CATTLE     CALVES   HOGS        SHEEP

Monday (est           118,000    2,000     395,000     8,000

Week ago (est)       113,000    2,000     436,000     8,000

Year ago (act)         116,000    2,000     381,000     7,000

 

Boxed Beef: 

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

 

Cutout Values...              Choice       Select

Current Cutout Values:    205.68     198.33

Change from prior day:      +0.93       +1.24

Choice/Select spread:          7.35

 

Futures Summary: 

 

CME Feeder Cattle Index: 149.74… +0.82

August Live Cattle Futures: 110.40… -0.27

October Live Cattle Futures: 111.55… -0.45

December Live Cattle Futures: 115.22… -0.28

August Feeder Cattle Futures: 151.85… -1.00

September Feeder Cattle Futures: 151.85… -1.17

November Feeder Cattle Futures: 152.27… -0.75

 

September Hog Futures: 50.22… -0.55

Nearby Crude Oil Futures Contract: 69.01… +0.52

 

National Grain Market Summary:

Compared to Friday, cash bids for wheat and sorghum were higher, corn was mixed, while soybeans were lower.  Wheat took support from global production issues.  Corn advances were held in check by a weak soy complex and news that Mexico was buying Argentine corn rather than coming to the United States for needs.  Soybeans were pressured all day by increased production estimates and the ongoing trade issues between the U.S. and China.

 

September Corn Futures: 3.7100… +0.0125

August Soybean Futures: 8.8275… -0.0875

September Wheat Futures: 5.7450… +0.1825

Kansas City Corn: 3.67… +0.01

Kansas City Soybeans: 8.66… -0.09

Kansas City Wheat: 6.16… +0.19

 

Financial Markets: 

Dow Jones Industrial Average: 25,502.18… +39.60

S & P 500: 2,850.40… +10.05

NASDAQ: 7,859.68… +47.67

U.S. Dollar Index: 95.37… +0.14