May 22 2019

Texas Daily Ag Market News Summary Posted 5 years 190 days ago by Administrator Account

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The combination of surging corn prices and expectations of higher April placements in Friday’s ‘Cattle on Feed Report’ continued to weigh on cattle futures today, especially feeder cattle. Estimates for cattle placed on feed in April are in the 12% to 15% higher range.

Slaughter Cattle:
Report Unavailable
The FCE On-Line Auction offered 309 head on Wednesday with 0 head sold.

Negotiated Sales:
Report Unavailable

Formula Net - Dressed Steers & Heifers:
Report Unavailable

Alberta Beef Producers Daily Report: Alberta CA
Alberta direct cattle sales Tuesday saw no new trade to report. This week's showlist has been compiled with volumes smaller than the previous week. There is a chance scattered trade could develop by this afternoon. A lot of cattle were marketed last week which should moderate selling pressure this week. Over the past four weeks fed prices have moved from the low 160's to the low 150's and are now trading within 3.00 of their lows set back in February.

Livestock Slaughter under Federal Inspection:
Cattle Calves Hogs Sheep
Wednesday (est) 120,000 2,000 468,000 9,000
Week ago (est) 121,000 2,000 460,000 8,000
Year ago (act) 119,000 2,000 456,000 8,000
Week to date (est) 360,000 6,000 1,410,000 27,000
Last Week (est) 363,000 6,000 1,381,000 26,000
Last Year (act) 359,000 6,000 1,375,000 25,000
Previous day estimated Steers & Heifers Cows & Bulls
Tuesday 95,000 25,000

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

Cutout Values... Choice Select
Current Cutout Values: 219.75 205.81
Change from prior day: +0.17 -0.77
Choice/Select spread: 13.94
Total Load Count (Cuts, Trimmings, Grinds): 172

Cutter Cow Cutout: 173.22… +0.58

CME Feeder Cattle Index: 132.16… -0.09

Futures…
Live Cattle:
June: 110.65… -0.20
August: 107.95… -0.32
October: 107.80… -0.50
Feeder Cattle:
August: 142.60… -0.40
September: 143.87… -0.30
October: 144.75… -0.22
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June Hogs: 89.65… -0.45
July Crude Oil: 61.42… -1.71
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July Corn: 3.9450… +0.0025
July Soybeans: 8.2850… +0.0650
July Wheat: 4.7275… -0.0600
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Cotton (www.ams.usda.gov)
July Cotton: 66.75… -0.57
Milk (www.cmegroup.com)
May Class III Milk: 16.33… +0.04
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Grain Cash Bids:
Kansas City Corn: 3.90… +0.01
Kansas City Soybeans: 7.81… +0.06
Kansas City Wheat: 4.53… -0.06
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Financial Markets:
Dow Jones Industrial Average: 25,776.34… -100.99
S & P 500: 2,856.27… -8.09
NASDAQ: 7,750.84… -34.88
U.S. Dollar Index: 98.08… +0.02