Aug 09 2018

Texas Daily Ag Market News Summary Posted 6 years 110 days ago by Administrator Account

Daily Market Summary for August 9th  

 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:  

Thus far Thursday, negotiated cash trade and demand was moderate in Nebraska and the Western Cornbelt. In Nebraska compared to last week, the bulk of dressed purchases have traded mostly 3.00 lower at 175.00, with a few early purchases up to 179.00. A few live purchases were reported at 110.00, however not enough for an adequate market test. In the Western Cornbelt compared to the bulk last week, live purchases have traded mostly 2.00 lower from 109.00-112.00, bulk at 110.00. Dressed purchases for the week have ranged from 174.00-179.00. 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.

 

Negotiated Sales:

Confirmed: 27,937    Week Ago: 1,415    Year Ago: 4,813

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 21,100

Weighted avg weight:       871.00

Weighted avg net price:    181.29

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sale Wednesday saw no new trade to report but the market tone is weaker. Dressed bids have been reported from 235.00-236.00 delivered. Bids are 10.00 lower than last week. No live bids have been reported however using a 60% dressing percentage, dressed bids are working back to the low 140's on a live basis. Many producers are looking for at least steady money with last week. If bids do not improve today lots of cattle will be carried into next week.

 

Livestock Slaughter under Federal Inspection:                                  

                                  CATTLE     CALVES   HOGS       SHEEP

Thursday (est          120,000    2,000      462,000      8,000

Week ago (est)       120,000    2,000      450,000      7,000

Year ago (act)         117,000    1,000      445,000       8,000

Week to date (est) 477,000    8,000   1,772,000    31,000

Week (est)               472,000    8,000   1,793,000    30,000

Last Year (act)         468,000    7,000   1,725,000    31,000

 

 

Boxed Beef: 

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

 

Cutout Values...              Choice       Select

Current Cutout Values:    206.06     198.09

Change from prior day:      +0.33       -0.77

Choice/Select spread:          7.97

 

Futures Summary: 

 

CME Feeder Cattle Index: 150.45… -0.11

August Live Cattle Futures: 108.25… -1.57

October Live Cattle Futures: 109.05… -1.95

December Live Cattle Futures: 112.97… -1.55

August Feeder Cattle Futures: 149.35… -1.30

September Feeder Cattle Futures: 149.02… -0.73

November Feeder Cattle Futures: 149.20… -0.77

 

September Hog Futures: 51.40… +3.00

Nearby Crude Oil Futures Contract: 66.81… -0.13

 

National Grain Market Summary:

Compared to yesterday, cash bids for wheat were mixed, while corn, soybeans, and sorghum were lower.  USDA said there were 15.5 million bushels of old-crop soybean export sales and 19.6 million bushels of new-crop sales last week. Soybean shipments are down 3% in 2017-18 from a year ago, a little above USDA's estimated pace.  New-crop soybean sales are off to a quick start, up 55% from a year ago, but far from being shipped yet.  Corn export sales totaled 21.8 million bushels old-crop and 25.9 million bushels new-crop.  Corn exports are slightly below a year ago with four weeks left in 2017-18.  New-crop sales however, are off to a quick start, up 54% from a year ago.  Last week's export sales and shipments of wheat totaled 11.7 and 12.7 million bushels respectively, another bearish week with no sign yet of the world needing U.S. wheat.

 

September Corn Futures: 3.6925… -0.0200

August Soybean Futures: 8.9300… -0.0675

September Wheat Futures: 5.6450… -0.0550

Kansas City Corn: 3.65… -0.02

Kansas City Soybeans: 8.73… -0.08

Kansas City Wheat: 6.08… -0.06

 

Financial Markets: 

Dow Jones Industrial Average: 25,509.30… -74.45

S & P 500: 2,853.58… -4.12

NASDAQ: 7,891.78… +3.45

U.S. Dollar Index: 95.59… +0.50

Cotton (www.ams.usda.gov)

October Cotton Futures: 87.26... -0.13

Milk (www.cmegroup.com)

August Class III Milk Futures: 14.99... +0.13