Aug 28 2018

Texas Daily Ag Market News Summary Posted 6 years 91 days ago by Administrator Account

Daily Market Summary for August 28th...

 

Slaughter Cattle:  

Thus far for Tuesday trading in the Southern and Northern Plains has been at a standstill. In the Western Cornbelt trading has been limited on very light demand. Not enough trades for a market trend. Last week, in the Southern Plains, live cash trades moved at 109.00. For the prior week, in Nebraska, live cash trades moved from 109.00-109.50 and dressed cash trades moved mostly at 173.00. For the previous week, in Colorado, live cash trades moved at 109.50. Last week, in the Western Cornbelt, live cash trades moved mostly from 108.00-109.00 and dressed cash trades moved mostly from 172.00-174.00.

 

Negotiated Sales:

Confirmed: 2,562    Week Ago: 466    Year Ago: 1,969

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 23,900

Weighted avg weight:       865.00

Weighted avg net price:    175.22

 

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. Western Canadian fed slaughter volumes for the week ending August 18th totaled just over 46,000 head, volumes are 8% larger than the same week last year. This ranks as the 3rd largest weekly slaughter volume seen this year.

 

Livestock Slaughter under Federal Inspection:                                  

                                   CATTLE     CALVES    HOGS       SHEEP

Tuesday (est            119,000    2,000     468,000      8,000

Week ago (est)        119,000    2,000     467,000      9,000

Year ago (act)          117,000    2,000     450,000      9,000

Week to date (est) 238,000    4,000     934,000    16,000

Last Week (est)       237,000    4,000     915,000    17,000

Last Year (act)         233,000    4,000     899,000    18,000

 

Boxed Beef: 

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

 

Cutout Values...              Choice       Select

Current Cutout Values:    212.53     204.41

Change from prior day:       -1.10        -0.44

Choice/Select spread:          8.12

 

Futures Summary: 

 

CME Feeder Cattle Index: 150.60… -0.04

August Live Cattle Futures: 107.80… -0.40

October Live Cattle Futures: 108.45… -0.85

December Live Cattle Futures: 112.60… -1.05

August Feeder Cattle Futures: 149.35… -0.87

September Feeder Cattle Futures: 149.52… -1.15

November Feeder Cattle Futures: 149.42… -0.65

 

September Hog Futures: 52.00… -2.77

Nearby Crude Oil Futures Contract: 68.53… -0.34

 

National Grain Market Summary:

Compared to yesterday, cash bids for wheat was steady to lower; corn, wheat and sorghum were lower.  Analysts are concerned about soybean carryout bushels reported recently and how the recent August rains will affect yields.  Typically moisture in August bodes well for soybean yield increases. The corn crop is maturing faster than normal as 61 percent of corn is dented, compared to the 5 year average of 42 percent.

 

September Corn Futures: 3.4100… -0.0575

August Soybean Futures: 8.2050… -0.1425

September Wheat Futures: 4.9825… -0.0100

Kansas City Corn: 3.27… -0.06

Kansas City Soybeans: 7.88… -0.15

Kansas City Wheat: 5.29… -0.02

 

Financial Markets: 

Dow Jones Industrial Average: 26,064.63… +14.99

S & P 500: 2,897.61… +0.87

NASDAQ: 8,030.04… +12.14

U.S. Dollar Index: 94.72… -0.04

Cotton (www.ams.usda.gov): 

October Cotton Futures: 83.81… +0.29

Milk (www.cmegroup.com): 

August Class III Milk Futures: 15.02… -0.01