Aug 30 2018

Texas Daily Ag Market News Summary Posted 6 years 89 days ago by Administrator Account

Daily Market Summary for August 30th  

 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 Thursday 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. Thus far for the week, in the Western Cornbelt, a few early live and dressed trades have moved from 106.00-108.50 and at 170.00, respectively. However, 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: 5,008    Week Ago: 34,714    Year Ago: 20,938

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 24,200

Weighted avg weight:        872.00

Weighted avg net price:    175.52

 

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 steady to 2.00 lower than last week. Live bids have been reported just short of 140.00, bids are 2.00 lower than last week's weighted average price.

 

Livestock Slaughter under Federal Inspection:                                  

                                   CATTLE     CALVES    HOGS       SHEEP

Thursday (est          118,000    2,000      468,000      7,000

Week ago (est)       116,000    2,000      470,000      7,000

Year ago (act)          117,000    1,000      452,000      8,000

Week to date (est) 473,000    8,000   1,852,000    28,000

Last Week (est)       470,000    8,000   1,854,000    31,000

Last Year (act)         466,000    7,000   1,802,000    33,000

 

 

Boxed Beef: 

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

 

Cutout Values...              Choice       Select

Current Cutout Values:    211.73     202.21

Change from prior day:      -0.95        -1.34

Choice/Select spread:          9.52

 

Futures Summary: 

 

CME Feeder Cattle Index: 150.09… -0.15

August Live Cattle Futures: 109.80… +0.63

October Live Cattle Futures: 109.07… +0.37

December Live Cattle Futures: 113.30… +0.60

August Feeder Cattle Futures: 149.47… +0.15

September Feeder Cattle Futures: 150.17… +1.00

November Feeder Cattle Futures: 150.37… +0.97

 

September Hog Futures: 49.12… -2.43

Nearby Crude Oil Futures Contract: 70.25… +0.74

 

National Grain Market Summary:

Compared to yesterday, cash bids for wheat were mostly lower, corn and soybeans were mixed, while sorghum was steady.  Weekly corn export sales were reported at 6.9 mb for 2017-18 and 20.7 mb for 2018-19.  Total old-crop shipments plus outstanding sales are reported at 2.383 bb, 7% higher than the previous year, while weekly shipments of 52.9 mb are up 2% from the same week last year, leaving this report viewed as bearish for old-crop and bullish for new-crop.  Soybean weekly sales and shipments viewed as neutral for old-crop and new-crop soybeans, with 4.1 mb of old-crop and 21.7 mb of new-crop sold over the past week.  Cumulative old-crop shipments plus outstanding sales are 3% below last year, while weekly shipments were also 3% lower than the same week last crop year.  Wheat weekly export sales reported as bearish with total shipments plus outstanding sales reported at 330 mb, down 26% from last year, while weekly shipments of 14.9 mb were down 35% from the same week last crop year.

 

September Corn Futures: 3.4100… -0.0025

August Soybean Futures: 8.1950… -0.0375

September Wheat Futures: 5.0800… -0.0775

Kansas City Corn: 3.28… -0.01

Kansas City Soybeans: 7.86… -0.05

Kansas City Wheat: 5.42… -0.08

 

Financial Markets: 

Dow Jones Industrial Average: 25,986.99… -137.58

S & P 500: 2,901.13… -12.95

NASDAQ: 8,088.36… -21.33

U.S. Dollar Index: 94.66… +0.13 

Cotton (www.ams.usda.gov): 

October Cotton Futures: 82.42… -0.55

Milk (www.cmegroup.com): 

September Class III Milk Futures: 16.38… -0.10