May 15 2019

Texas Daily Ag Market News Summary Posted 5 years 197 days ago by Administrator Account

Daily Market Summary for May 15th

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!

---

Slaughter Cattle: 

As of 3:00 PM Wednesday, negotiated cash trade and demand in the Southern Plains has been light to moderate. Early live purchases have traded 3.00 to 5.00 lower from 115.00 to 117.00. Trading in all other regions was limited on light demand. Not enough in any region for an adequate market test. The last fully established market in Nebraska and the Western Cornbelt was last week. In Nebraska live and dressed cash trades moved from 120.00-121.00 and 189.00-194.00, respectively. In the Western Cornbelt live and dressed cash trades moved mostly at 120.00 and from 190.00-192.00, respectively.

 

The Fed Cattle Exchange On-Line Auction offered 376 head today with 280 head sold at a weighted average price of $117.00, $3 lower per cwt. than last week.

 

Negotiated Sales:

Confirmed: 17,509 --- Week Ago: 32,023 --- Year Ago: 16,349

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 19,000

Weighted avg weight:             830

Weighted avg net price:    198.63

  

Alberta Beef Producers Daily Report: Alberta CA

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. The month of May has been a volatile month for the fed cattle market over the past two years dropping 17.00-21.00 from the start of May to the end of May. With softer cash prices in the US this does not bode well for prices here locally.

 

Livestock Slaughter under Federal Inspection:                                  

                                 Cattle        Calves     Hogs          Sheep

Wednesday (est     121,000    2,000      460,000      8,000

Week ago (est)        122,000    2,000      473,000      7,000

Year ago (act)          120,000    2,000      458,000      9,000

Week to date (est) 363,000    6,000   1,381,000    26,000

Last Week (est)       362,000    6,000   1,415,000    24,000

Last Year (act)          357,000    6,000   1,373,000    27,000

Previous day estimated       Steers & Heifers   Cows & Bulls

                          Tuesday              95,000                  26,000

 

Boxed Beef:

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     219.57    208.04

Change from prior day:       -0.55       -0.93

Choice/Select spread:          11.53

Total Load Count (Cuts, Trimmings, Grinds): 143

 

Cutter Cow Cutout: 171.58… +0.06

 

CME Feeder Cattle Index: 134.81… -0.26

 

Futures…

Live Cattle:

June: 109.67… +0.17

August: 106.97… +0.25

October: 106.75… +0.28

Feeder Cattle:

August: 142.27… -0.23

September: 143.22… -0.35

October: 143.90… -0.52

---

June Hogs: 91.82… +2.70

June Crude Oil: 62.02… +0.24

---

July Corn: 3.6950… +0.0075

July Soybeans: 8.3550… +0.0400

July Wheat: 4.4875… +0.0025

---

Grain Cash Bids:

Kansas City Corn: 3.68… Unchanged

Kansas City Soybeans: 7.88… +0.04

Kansas City Wheat: 4.29… +0.01

---

Cotton (www.ams.usda.gov):

July Cotton Futures: 66.76... +1.31

Milk (www.cmegroup.com):

May Milk: 16.27... -0.02

---

Financial Markets:

Dow Jones Industrial Average: 25,648.02… +115.97

S & P 500: 2,850.98… +16.57

NASDAQ: 7,822.15… +87.66

U.S. Dollar Index: 97.57… +0.06