Aug 21 2018

Texas Daily Ag Market News Summary Posted 6 years 98 days ago by Administrator Account

Daily Market Summary for August 21st  

 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 Tuesday, 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: 466    Week Ago: 6,309    Year Ago: 818

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 22,800

Weighted avg weight:       862.00

Weighted avg net price:   176.78

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Monday saw no new trade to report. This week's showlist has been compiled with volumes steady with the previous week. Looking at the most recent export data. Weekly cow and fed cattle exports to the US totaled just over 5,700 head. Volumes are down 28% compared to the same week last year. On a cash to cash basis Alberta fed prices traded were at a slight discount to the Nebraska market but remain at a 6.00 premium over the Ontario market.

 

Livestock Slaughter under Federal Inspection:                                  

                                 CATTLE     CALVES   HOGS       SHEEP

Tuesday (est           119,000    2,000     467,000      9,000

Week ago (est)       119,000    2,000     468,000      8,000

Year ago (act)          118,000    2,000     445,000      8,000

Week to date (est) 237,000    4,000     915,000    17,000

Last Week (est)       237,000    4,000     935,000    16,000

Last Year (act)         235,000    4,000     870,000    16,000

 

Boxed Beef: 

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

 

Cutout Values...              Choice       Select

Current Cutout Values:    213.57     204.08

Change from prior day:       -0.41       +1.79

Choice/Select spread:          9.49

 

Futures Summary: 

 

CME Feeder Cattle Index: 149.43… -0.23

August Live Cattle Futures: 109.27… +0.20

October Live Cattle Futures: 110.47… +0.02

December Live Cattle Futures: 114.67… +0.10

August Feeder Cattle Futures: 149.17… -0.45

September Feeder Cattle Futures: 151.00… -0.10

November Feeder Cattle Futures: 150.92… -0.35

 

September Hog Futures: 56.22… -0.25

Nearby Crude Oil Futures Contract: 67.35… +0.92

 

National Grain Market Summary:

Compared to yesterday, cash bids for wheat, corn, soybeans, and sorghum were mostly lower.  Corn prices have held roughly steady since suffering a drop after USDA estimated a larger-than-expected 14.6 billion bushel crop on August 10. Soybean traders are awaiting the meeting on tariffs between the US and China that starts tomorrow.  Despite wheat losing its uptrend it had since July, world ending-wheat stocks are expected to be lower in 2018-19, which should help prices find a higher level of support than a year ago.

 

September Corn Futures: 3.5975… -0.0225

August Soybean Futures: 8.7450… -0.0725

September Wheat Futures: 5.2725… -0.1500

Kansas City Corn: 3.48… -0.02

Kansas City Soybeans: 8.46… -0.07

Kansas City Wheat: 5.64… -0.13

 

Financial Markets: 

Dow Jones Industrial Average: 25,821.95… +63.26

S & P 500: 2,862.89… +5.84

NASDAQ: 7,859.17… +38.16

U.S. Dollar Index: 95.26… -0.47

Cotton (www.ams.usda.gov): 

October Cotton Futures: 83.50… +0.40

Milk (www.cmegroup.com): 

August Class III Milk Futures: 15.01… -0.01