Aug 15 2018

Texas Daily Ag Market News Summary Posted 6 years 104 days ago by Administrator Account

Daily Market Summary for August 15th  

 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 Wednesday trading in Nebraska and the Western Cornbelt has been very limited on light demand. In the Southern Plains and Colorado trading has been at a standstill. Not enough trades for a full market trend in any of these feeding regions. In Nebraska on Tuesday live cash trades moved at 109.50 and last week dressed cash trades moved mostly at 175.00. Last week in the Southern Plains and Colorado live cash trades moved at mostly 111.00. 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: 3,233    Week Ago: 2,872    Year Ago: 5,453

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 16,700

Weighted avg weight:       855.00

Weighted avg net price:    180.03

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sale Tuesday saw no new trade to report but there is a chance scattered trade could develop by this afternoon. Technical price levels have improved since Monday. There have been rumblings packers are making inquiries trying to buy cattle early. Even though US cash prices are looking lower there is a chance prices here locally could hold steady to maybe higher.

 

Livestock Slaughter under Federal Inspection:                                  

                                CATTLE     CALVES   HOGS        SHEEP

Wednesday (est     117,000    2,000       468,000     7,000

Week ago (est)       120,000    2,000       462,000     7,000

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

Week to date (est) 354,000    6,000   1,403,000    23,000

Last Week (est)       357,000    6,000   1,310,000    23,000

Last Year (act)         347,000    6,000   1,346,000    22,000

 

Boxed Beef: 

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

 

Cutout Values...              Choice       Select

Current Cutout Values:    209.95     200.61

Change from prior day:      +0.31        -0.66

Choice/Select spread:          9.34

 

Futures Summary: 

 

CME Feeder Cattle Index: 150.34… -0.34

August Live Cattle Futures: 108.32… +0.35

October Live Cattle Futures: 109.00… +0.28

December Live Cattle Futures: 112.80… +0.38

August Feeder Cattle Futures: 149.05… +0.13

September Feeder Cattle Futures: 149.15… +0.48

November Feeder Cattle Futures: 149.27… +0.37

 

September Hog Futures: 52.47… +0.62

Nearby Crude Oil Futures Contract: 65.01… -2.03

 

National Grain Market Summary:

Compared to yesterday, cash bids for wheat and corn were mixed, while soybeans and sorghum were lower.  With the U.S. expecting a big corn harvest this fall, prices are likely to stay under pressure, but active world demand is helping. Favorable forecast for the remainder of the growing season for soybean crops and reports that Brazil will expand its soybean acreage are putting pressure on the soy complex.  Beneficial rains in key areas ahead of winter wheat planting has caused wheat to back down from its high earlier this month.

 

September Corn Futures: 3.6150… -0.0075

August Soybean Futures: 8.5750… -0.1075

September Wheat Futures: 5.3225… -0.0950

Kansas City Corn: 3.55… -0.01

Kansas City Soybeans: 8.34… -0.14

Kansas City Wheat: 5.65… -0.11

 

Financial Markets: 

Dow Jones Industrial Average: 25,162.81… -137.11

S & P 500: 2,818.45… -21.51

NASDAQ: 7,774.12… -96.77

U.S. Dollar Index: 96.71… +0.05

Cotton (www.ams.usda.gov): 

October Cotton Futures: 81.08… -2.33

Milk (www.cmegroup.com): 

August Class III Milk Futures: 15.00… -0.02