May 21 2019

Texas Daily Ag Market News Summary Posted 5 years 191 days ago by Administrator Account

Daily Market Summary for May 21st

---

Slaughter Cattle:  

As of 3:00 PM Tuesday, negotiated cash trading was limited on very light demand in all major feeding regions. Not enough for an adequate market test. Last week in the Southern Plains, live cash trades moved from 115.00-117.00. In Nebraska last week, live and dressed cash trades moved at 117.00 and from 185.00-186.00, respectively. In the Western Cornbelt live and dressed cash trades moved from 116.00-118.00 and from 185.00-190.00, respectively.

  

Negotiated Sales:

Confirmed: 681 --- Week Ago: 1,190 --- Year Ago: 158

  

Formula Net - Dressed Steers & Heifers

Head count priced today: 20,800

Weighted avg weight:             849

Weighted avg net price:    193.23

   

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales last week saw light trade develop with weighted average steer and heifer prices closing the week at 150.75 and 150.50 respectively. Prices are 4.00-5.00 lower than the previous week. All reported cash sales traded locally. Looking at the non-fed market butcher cows traded 1.00-2.00 higher through commercial auction facilities last week. Butcher cow prices are now trading higher than last year.

 

Livestock Slaughter under Federal Inspection:                                  

                                 Cattle        Calves    Hogs          Sheep

Tuesday (est           120,000    2,000     470,000      9,000

Week ago (est)       121,000    2,000     460,000      9,000

Year ago (act)         121,000    2,000     461,000      9,000

Week to date (est) 240,000    4,000     942,000    18,000

Last Week (est)       242,000    4,000     921,000    18,000

Last Year (act)         240,000    4,000     919,000    17,000

Previous day estimated       Steers & Heifers   Cows & Bulls

                           Monday            96,000                   24,000

 

Boxed Beef: 

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     219.58    206.58

Change from prior day:        -1.87       -1.45

Choice/Select spread:          13.00

Total Load Count (Cuts, Trimmings, Grinds): 138

 

Cutter Cow Cutout: 172.64… -0.44

  

CME Feeder Cattle Index: 132.15… +0.33

 

Futures…

Live Cattle:

June: 110.85… -0.50

August: 108.27… -0.25

October: 108.30… -0.20

Feeder Cattle:

August: 143.00… -1.77

September: 144.17… -1.70

October: 144.97… -1.73

---

June Hogs: 90.10… -1.65

June Crude Oil: 62.99… -0.11

---

July Corn: 3.9425… +0.0525

July Soybeans: 8.2200… -0.0975

July Wheat: 4.7875… +0.0050

---

Grain Cash Bids:

Kansas City Corn: 3.89… +0.05

Kansas City Soybeans: 7.85… -0.10

Kansas City Wheat: 4.59… +0.01

---

Financial Markets:

Dow Jones Industrial Average: 25,877.46… +197.56

S & P 500: 2,864.43… +24.20

NASDAQ: 7,785.72… +83.34

U.S. Dollar Index: 98.04… +0.11