Apr 05 2019

Texas Daily Ag Market News Summary Posted 5 years 237 days ago by Administrator Account

Daily Market Summary for April 5th  

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:  

As of 3:00 PM Friday, negotiated cash trade was light on light to moderate demand in the Northern Plains and the Western Cornbelt. In the Northern Plains compared to the bulk of last week, early live purchases traded mostly steady at 126.00. A few early dressed purchases have been reported from 204.00-206.00, however not enough for an adequate market test. Last week in Nebraska, dressed purchases traded at 206.00. In the Western Cornbelt a few purchases were reported mostly steady compared to the bulk of trade throughout the week, from 127.00-128.00 and 204.00-206.00 respectively. Trade in the Southern Plains was limited on light demand with a few live purchases, steady compared to Thursday at 124.00.

  

Negotiated Sales:

Confirmed: 18,755 --- Week Ago: 6,419 --- Year Ago: 9,373

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 21,100

Weighted avg weight:             834

Weighted avg net price:    200.68

   

Alberta Beef Producers Daily Report:

Alberta direct cattle Thursday saw light trade develop with dressed sales marked at 270.00 delivered. Sales are fully steady with prices seen on Wednesday and steady with last week as well. Cattle that traded this week were being scheduled for the week of April 22nd delivery. Cash to futures basis levels did strengthen but are weaker than the five-year historical average. 

 

Livestock Slaughter under Federal Inspection:                                  

                                  Cattle       Calves     Hogs         Sheep

Friday (est               107,000     2,000         417,000     8,000

Week ago (est)        106,000     2,000         461,000     8,000

Year ago (act)          114,000     3,000        452,000      6,000

Week to date (est)  584,000   12,000     2,316,000    41,000

Last Week (est)       581,000   12,000     2,362,000    42,000

Last Year (act)         572,000   10,000     2,164,000    43,000

Saturday (est             37,000        0              142,000      1,000

Week ago (est)          33,000        0              142,000      1,000

Year ago (act)            44,000        0              168,000      1,000

Week to date (est)  621,000    12,000     2,458,000    42,000

Last Week (est)        614,000   12,000     2,504,000    43,000

Last Year* (act)        615,000   10,000     2,333,000     44,000

2019 YTD               8,426,000  160,000  34,134,000   524,000

2018 *YTD             8,371,000  142,000  33,222,000   537,000

Percent change          0.7%        12.9%         2.7%        -2.4%

Previous Day (Estimated)  Steers & Heifers     Cows & Bulls

                          Thursday          95,000                   26,000

 

Boxed Beef: 

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     226.93     220.28

Change from prior day:       +0.19       +1.92

Choice/Select spread:            6.65

Total Load Count (Cuts, Trimmings, Grinds): 132

 

Cutter Cow Cutout: 168.81… -0.10

  

CME Feeder Cattle Index: 142.91… +0.47

 

Futures

Live Cattle:

April: 126.05… -1.50

June: 120.35… -1.22

August: 117.37… -0.85

Feeder Cattle:

April: 146.15… -0.17

May: 150.22… +0.15

August: 156.72… -0.48

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April Hogs: 79.02… -0.17

April Crude Oil: 63.08… +0.98

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May Corn: 3.6250… -0.0275

May Soybeans: 8.9900… -0.0750

May Wheat: 4.6775… -0.0300

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Weekly National Grain Market Review:

Compared to last week, cash bids for soybeans were higher; wheat was mixed while corn and sorghum was lower.  Ethanol production for week ending March 29th totaled 0.999 million barrels per day, a slight increase compared to the week prior. According to analysts, 10-15 percent of total US Ethanol production is offline due to the flooding in the Plains, with most of the lost production in Northeast Nebraska. As the calendar turns to April now, planting delays are now creeping into the forefront as waterlogged, cold soil is a concern.  Days suitable for fieldwork in the "I" states for week ending March 31 averaged less than 1 day.

Grain Cash Bids:

Kansas City Corn: 3.64… -0.03

Kansas City Soybeans: 8.64… -0.05

Kansas City Wheat: 4.45… -0.03

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Financial Markets:

Dow Jones Industrial Average: 26,424.99… +40.36

S & P 500: 2,892.74… +13.35

NASDAQ: 7,938.69… +46.91

U.S. Dollar Index: 97.39… +0.09

Cotton (www.ams.usda.gov): 

May Cotton Futures: 78.25… +0.93

Milk (www.cmegroup.com): 

April Class III Milk Futures: 15.85… +0.04