Texas Daily Ag Market News Summary

Posted 6 years 106 days ago by Administrator Account

Daily Market Summary for August 13th

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Slaughter Cattle:

So far for Monday trading has been at a standstill in the Southern and Northern Plains. 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 Colorado live cash trades moved at mostly 111.00. For the prior week in Nebraska live cash trades moved mostly from 110.00-111.50 and dressed trades mostly at 175.00. For the previous week in the Western Cornbelt live cash trades moved mostly at 110.00 and dressed trades moved mostly from 174.00-176.00.

Negotiated Sales:

Confirmed: 1,213 Week Ago: 3,732 Year Ago: 3,622

Formula Net - Dressed Steers & Heifers

Head count priced today: 44,500

Weighted avg weight: 846.00

Weighted avg net price: 180.57

Alberta Beef Producers Daily Report:

Alberta direct cattle sale last week saw light trade develop with weighted average steer and heifer prices closing the week at 142.75 and 141.00 respectively. Prices are 3.00 lower than the previous week. Over the past four weeks fed prices have dropped 12.00 and are now only about 0.50 shy of annual lows that were set in June. Looking at the non-fed market butcher cows traded 3.00-4.00 lower through commercial auction facilities.

Livestock Slaughter under Federal Inspection:

CATTLE CALVES HOGS SHEEP

Monday (est 118,000 2,000 467,000 8,000

Week ago (est) 118,000 2,000 395,000 8,000

Year ago (act) 115,000 2,000 449,000 7,000

Boxed Beef:

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

Cutout Values... Choice Select

Current Cutout Values: 208.43 199.66

Change from prior day: +1.82 +1.89

Choice/Select spread: 8.77

Futures Summary:

CME Feeder Cattle Index: 151.12… Unchanged

August Live Cattle Futures: 107.20… -1.05

October Live Cattle Futures: 108.15… -1.10

December Live Cattle Futures: 112.00… -1.10

August Feeder Cattle Futures: 148.65… -1.25

September Feeder Cattle Futures: 148.45… -1.07

November Feeder Cattle Futures: 148.95… -0.52

September Hog Futures: 51.65… +0.48

Nearby Crude Oil Futures Contract: 67.20… -0.43

National Grain Market Summary:

Compared to Friday, cash bids for wheat and sorghum were lower, corn was mixed, and soybeans were higher. Export loadings for the week ending August 9^th were mixed. Grain shipments were at the top end or above trade estimates with 49.7 million bu on corn and 17 million bu for wheat. Soybean loadings fell short of trade expectations at 21.3 million bu. All totals were short of what is needed on a weekly basis to reach yearly objectives.

September Corn Futures: 3.5650… -1.0125

August Soybean Futures: 8.5725… +0.0650

September Wheat Futures: 5.3350… -0.1325

Kansas City Corn: 3.52… -0.01

Kansas City Soybeans: 8.37… +0.07

Kansas City Wheat: 5.71… -0.19

Financial Markets:

Dow Jones Industrial Average: 25,187.70… -125.44

S & P 500: 2,821.94… -11.28

NASDAQ: 7,819.71… -19.40

U.S. Dollar Index: 96.39… +1.21

Cotton (www.ams.usda.gov):

October Cotton Futures: 83.14… -2.72

Milk (www.cmegroup.com):

August Class III Milk Futures: 15.02… -0.02