Aug 23 2018

Texas Daily Ag Market News Summary Posted 6 years 96 days ago by Administrator Account

Daily Market Summary for August 23rd  

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:  

Unavailable

 

Negotiated Sales:

Unavailable

 

Formula Net - Dressed Steers & Heifers

Unavailable

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Wednesday saw no new trade to report. Dressed bids have been reported at 238.00 delivered. Bids are positioned at the bottom end of last week's trading range. 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. Last week there were talks packers did operate on Saturday, increased slaughter volumes should help tighten front end packer supplies.

 

Livestock Slaughter under Federal Inspection:                                  

                                   CATTLE     CALVES   HOGS       SHEEP

Thursday (est          116,000    2,000      470,000      7,000

Week ago (est)       120,000    2,000      456,000      7,000

Year ago (act)         119,000    2,000      447,000       8,000

Week to date (est) 470,000    8,000   1,854,000    31,000

Last Week (est)       474,000    8,000   1,859,000    30,000

Last Year (act)         471,000    9,000   1,766,000    31,000

 

Boxed Beef: 

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

 

Cutout Values...              Choice       Select

Current Cutout Values:    214.37     203.99

Change from prior day:      +0.33       +0.02

Choice/Select spread:         10.38

 

Futures Summary: 

 

CME Feeder Cattle Index: 150.64… +0.80

August Live Cattle Futures: 107.95… -0.27

October Live Cattle Futures: 108.72… -0.18

December Live Cattle Futures: 112.97… -0.25

August Feeder Cattle Futures: 149.02… +0.32

September Feeder Cattle Futures: 149.15… Unchanged

November Feeder Cattle Futures: 148.80… +0.18

 

September Hog Futures: 51.17… -2.43

Nearby Crude Oil Futures Contract: 67.83… -0.03

 

National Grain Market Summary:

Compared to yesterday, cash bids for wheat, corn, soybeans, and sorghum were mostly lower.  Exports sales for the week of August 16 are mixed.  Corn exports were lower than expected coming in at only 6.8 million bushels.  Soybeans were within analyst expectations coming in at 5.6 million bushels.  Wheat exports were bearish at 8.8 million bushels.

 

September Corn Futures: 3.4675… -0.0575

August Soybean Futures: 8.4200… -0.1625

September Wheat Futures: 5.2200… -0.0400

Kansas City Corn: 3.35… -0.06

Kansas City Soybeans: 8.14… -0.16

Kansas City Wheat: 5.57… -0.03

 

Financial Markets: 

Dow Jones Industrial Average: 25,656.98… -76.62

S & P 500: 2,856.99… -4.83

NASDAQ: 7,878.46… -10.64

U.S. Dollar Index: 95.62… +0.53

Cotton (www.ams.usda.gov): 

October Cotton Futures: 81.73… -0.79

Milk (www.cmegroup.com): 

August Class III Milk Futures: 15.00… +/-0.00