Aug 16 2018

Texas Daily Ag Market News Summary Posted 6 years 103 days ago by Administrator Account

Daily Market Summary for August 16th  

 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 for Thursday trading in Nebraska and the Western Cornbelt has been inactive on very 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: 2,202    Week Ago: 28,721    Year Ago: 56,946

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 20,600

Weighted avg weight:        867.00

Weighted avg net price:    176.82

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sale Wednesday saw no new trade to report. Dressed bids have been reported from 238.00-240.00 delivered. Initial bids are steady to as much as 3.00 higher than the previous 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. Bids have strengthened from Wednesday to Thursday, that said many producers have passed cattle and are looking for more money.

 

Livestock Slaughter under Federal Inspection:                                  

                                  CATTLE     CALVES   HOGS        SHEEP

Thursday (est          120,000    2,000     456,000      7,000

Week ago (est)        120,000    2,000     462,000      8,000

Year ago (act)          119,000    1,000     446,000      7,000

Week to date (est) 474,000    8,000   1,859,000    30,000

Last Week (est)       477,000    8,000   1,772,000    31,000

Last Year (act)         466,000    7,000   1,792,000    29,000

 

Boxed Beef: 

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

 

Cutout Values...              Choice       Select

Current Cutout Values:    209.10     201.46

Change from prior day:      -0.85        +0.85

Choice/Select spread:          7.64

 

Futures Summary: 

 

CME Feeder Cattle Index: 150.29… -0.05

August Live Cattle Futures: 108.32… Unchanged

October Live Cattle Futures: 109.27… +0.27

December Live Cattle Futures: 113.20… +0.40

August Feeder Cattle Futures: 150.27… +1.22

September Feeder Cattle Futures: 150.12… +0.97

November Feeder Cattle Futures: 150.22… +0.95

 

September Hog Futures: 55.47… +3.00

Nearby Crude Oil Futures Contract: 65.46… +0.45

 

National Grain Market Summary:

Compared to yesterday, cash bids for wheat, corn, soybeans, and sorghum were mostly higher.  For the first time in two months the United States and China have agreed to sit down and talk about recent trade issues.  Chinese authorities were quick to claim they do not expect any resolution to come from this meeting, but the simple fact both sides have agreed to talk is positive.  Solid weekly export totals were supportive for all commodities.  Corn sales were split with 13.3 million bu old crop and 41.1 million bu new crop.  Soybean bookings came in with 4.9 million bu old crop and 21 million bu new crop.  Wheat sales were a solid 29.5 million bu

 

September Corn Futures: 3.6525… +0.0375

August Soybean Futures: 8.8550… +0.2800

September Wheat Futures: 5.4225… +0.1000

Kansas City Corn: 3.59… +0.04

Kansas City Soybeans: 8.62… +0.28

Kansas City Wheat: 5.77… +0.12

 

Financial Markets: 

Dow Jones Industrial Average: 25,558.73… +396.32

S & P 500: 2,840.69… +22.32

NASDAQ: 7,806.52… +32.40

Cotton (www.ams.usda.gov): 

October Cotton Futures: 82.13… +1.05

Milk (www.cmegroup.com): 

August Class III Milk Futures: 14.99… -0.01