Aug 14 2018

Texas Daily Ag Market News Summary Posted 6 years 105 days ago by Administrator Account

Daily Market Summary for August 14th  

 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:  

So far for Tuesday trading in the Southern Plains and Colorado has been at a standstill. In Nebraska trading has been limited on very light demand. A few early live cash trades moved at 109.50. In the Western Cornbelt trading has been inactive on very light demand. However, not enough trades for a full 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 and dressed cash trades moved mostly from 110.00-111.50 and at 175.00, respectively. For the previous week in the Western Cornbelt live and dressed cash trades moved mostly at 110.00 and from 174.00-176.00, respectively.

 

Negotiated Sales:

Confirmed: 6,309    Week Ago: 1,498    Year Ago: 1,988

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 31,800

Weighted avg weight:        861.00

Weighted avg net price:    180.70

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sale Monday saw no new trade to report. This week's showlist has been compiled with volumes larger than the previous week. Last week on a cash to cash basis Alberta fed prices were at a 3.50 discount against the Nebraska market. Front end packer supplies are growing, some cattle that traded last week would not be lifted until early September. Some cattle have been carried over for the past few weeks and there could be some pressure to market cattle either this week or next week.

 

Livestock Slaughter under Federal Inspection:                                  

                                  CATTLE     CALVES   HOGS        SHEEP

Tuesday (est            119,000    2,000     468,000      8,000

Week ago (est)        119,000    2,000     453,000      8,000

Year ago (act)          117,000    2,000     448,000      8,000

Week to date (est) 237,000    4,000     935,000    16,000

Last Week (est)       237,000    4,000     848,000    16,000

Last Year (act)          232,000    4,000     897,000    15,000

 

Boxed Beef: 

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

 

Cutout Values...              Choice       Select

Current Cutout Values:    209.64     201.27

Change from prior day:      +1.21       +1.61

Choice/Select spread:          8.37

 

Futures Summary: 

 

CME Feeder Cattle Index: 150.64… -0.48

August Live Cattle Futures: 107.97… +0.77

October Live Cattle Futures: 108.72… +0.57

December Live Cattle Futures: 112.42… +0.42

August Feeder Cattle Futures: 148.92… +0.27

September Feeder Cattle Futures: 148.67… +0.22

November Feeder Cattle Futures: 148.90… -0.05

 

September Hog Futures: 51.85… +0.20

Nearby Crude Oil Futures Contract: 67.04… -0.16

 

National Grain Market Summary:

Compared to yesterday, cash bids for wheat, corn, soybeans, and sorghum were mostly higher.  In spite of this year's record soybean crop estimate from USDA, U.S. new-crop soybean sales are already up 55% from a year ago.  Wheat prices have been volatile and sensitive to weather changes, but USDA is expecting the world's lowest amount of exportable ending wheat stocks in 11 years.  In spite of recent losses, the trends for all three U.S. wheats remain up.

 

September Corn Futures: 3.6225… +0.0575

August Soybean Futures: 8.6825… +0.1100

September Wheat Futures: 5.4175… +0.0825

Kansas City Corn: 3.56… +0.04

Kansas City Soybeans: 8.48… +0.11

Kansas City Wheat: 5.76… +0.05

 

Financial Markets: 

Dow Jones Industrial Average: 25,300.15… +112.45

S & P 500: 2,840.00… +18.06

NASDAQ: 7,870.89… +51.18

U.S. Dollar Index: 96.70… +0.38

Cotton (www.ams.usda.gov): 

October Cotton Futures: 83.41… +0.27

Milk (www.cmegroup.com): 

August Class III Milk Futures: 15.02… +0.00