Aug 29 2018

Texas Daily Ag Market News Summary Posted 6 years 90 days ago by Administrator Account

Daily Market Summary for August 29th  
 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:  

So far for Wednesday trading in the Southern Plains and Colorado has been at a standstill. In Nebraska and the Western Cornbelt trading has been limited on very light demand. Not enough trades for a full 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: 2,840    Week Ago: 26,746    Year Ago: 17,902

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 18,900

Weighted avg weight:        859.00

Weighted avg net price:    176.23

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Tuesday saw no new trade to report but there is a chance scattered trade could develop by this afternoon. Technical price levels are unchanged from Monday. Given a weaker price tone in the US cash market, this does not bode well for prices here locally.

 

Livestock Slaughter under Federal Inspection:                                  

                                   CATTLE     CALVES    HOGS       SHEEP

Wednesday (est     117,000    2,000      468,000      6,000

Week ago (est)        117,000    2,000      469,000      7,000

Year ago (act)          116,000    2,000      451,000      7,000

Week to date (est) 355,000    6,000   1,402,000    21,000

Last Week (est)       354,000    6,000   1,384,000    24,000

Last Year (act)          349,000    6,000   1,350,000    25,000

 

Boxed Beef: 

Boxed beef cutout values firm on Choice and weak on Select on light to moderate demand and offerings. Select and Choice round and loin cuts steady to weak while rib cuts steady to firm. Choice chuck cuts steady while Select lower. Beef trimmings not fully established.

 

Cutout Values...              Choice       Select

Current Cutout Values:    212.68     203.55

Change from prior day:      +0.28        -0.73

Choice/Select spread:          9.13

 

Futures Summary: 

 

CME Feeder Cattle Index: 150.23… -0.37

August Live Cattle Futures: 109.17… +1.37

October Live Cattle Futures: 108.70… +0.25

December Live Cattle Futures: 112.70… +0.10

August Feeder Cattle Futures: 149.32… -0.03

September Feeder Cattle Futures: 149.17… -0.35

November Feeder Cattle Futures: 149.40… -0.02

 

September Hog Futures: 51.55… -0.45

Nearby Crude Oil Futures Contract: 69.51… +0.98

 

National Grain Market Summary:

Compared to yesterday, wheat and corn was steady to higher; sorghum was higher; and soybeans were mixed.  Wheat futures led the charge today on the Boards.  Corn and soybeans followed wheat higher, but were subdued by favorable growing conditions towards the end of crop life.  The EIA's weekly report noted a 5 percent drop in Gulf Coast ethanol stocks, the first drop in five weeks.

 

September Corn Futures: 3.4125… +0.0025

August Soybean Futures: 8.2325… +0.0275

September Wheat Futures: 5.1575… +0.1750

Kansas City Corn: 3.27… Unchanged

Kansas City Soybeans: 7.91… +0.03

Kansas City Wheat: 5.50… +0.21

 

Financial Markets: 

Dow Jones Industrial Average: 26,125.18… +61.16

S & P 500: 2,914.08… +16.47

NASDAQ: 8,109.69… +79.65

U.S. Dollar Index: 94.56… -0.16

Cotton (www.ams.usda.gov): 

October Cotton Futures: 82.97… -0.84

Milk (www.cmegroup.com): 

September Class III Milk Futures: 16.48… +0.06