Texas Daily Ag Market News Summary

Posted 6 years 99 days ago by Administrator Account

Daily Market Summary for August 20th

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Slaughter Cattle:

Thus far Monday negotiated cash trade was mostly inactive on light demand in all feeding regions. The latest established market in any feeding region was last week with live purchases in the Southern Plains and Colorado mostly at 110.50. In Nebraska last week, the bulk of purchases traded at 110.00 and 173.00 respectively. For the previous week in the Western Cornbelt, live purchases traded from 109.00-110.00 with dressed purchases mostly at 173.00.

Negotiated Sales:

Confirmed: 492 Week Ago: 1,213 Year Ago: 157

Formula Net - Dressed Steers & Heifers

Head count priced today: 48,600

Weighted avg weight: 855.00

Weighted avg net price: 176.06

Alberta Beef Producers Daily Report:

Alberta direct cattle sales last week saw light trade develop with weighted average steer and heifer prices closing the week at 143.50 and 143.00 respectively. Prices are 1.00-2.00 higher than the previous week. Seasonally this should not come as a big surprise, but packers have leverage over the cattle feeder as summer fed supplies remain ample. Looking at the non-fed market butcher cows traded 1.00-2.00 lower through commercial auction facilities last week. August is traditionally a strong month for the cow market, but prices have been under pressure.

Livestock Slaughter under Federal Inspection:

CATTLE CALVES HOGS SHEEP

Monday (est 118,000 2,000 456,000 8,000

Week ago (est) 118,000 2,000 467,000 8,000

Year ago (act) 117,000 2,000 425,000 8,000

Boxed Beef:

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

Cutout Values... Choice Select

Current Cutout Values: 213.98 202.29

Change from prior day: +2.60 +1.37

Choice/Select spread: 11.69

Futures Summary:

CME Feeder Cattle Index: 149.66… +0.07

August Live Cattle Futures: 109.07… -0.35

October Live Cattle Futures: 110.45… -0.42

December Live Cattle Futures: 114.57… -0.05

August Feeder Cattle Futures: 149.62… -1.33

September Feeder Cattle Futures: 151.10… -0.72

November Feeder Cattle Futures: 151.27… -0.58

September Hog Futures: 56.47… -2.13

Nearby Crude Oil Futures Contract: 66.43… +0.52

National Grain Market Summary:

Compared to Friday, cash bids for wheat, corn, and sorghum were mostly lower, and while soybeans were higher. The US and Mexico are continuing their talks on the North American Free Trade Agreement (NAFTA) and there is hope it could be completed this week. This is positive export news for both the grain and meat sectors. With an agreement in place with Mexico, the trade believes an agreement with Canada would soon follow.

September Corn Futures: 3.6200… -0.0225

August Soybean Futures: 8.8175… +0.0025

September Wheat Futures: 5.4225… -0.1825

Kansas City Corn: 3.50… -0.02

Kansas City Soybeans: 8.53… Unchanged

Kansas City Wheat: 5.77… -0.18

Financial Markets:

Dow Jones Industrial Average: 25,758.69… +89.37

S & P 500: 2,857.05… +6.92

NASDAQ: 7,821.01… +4.68

U.S. Dollar Index: 95.85… -0.29

Cotton (www.ams.usda.gov):

October Cotton Futures: 83.10… +1.35

Milk (www.cmegroup.com):

August Class III Milk Futures: 15.02… +0.01