May 23 2019

Texas Daily Ag Market News Summary Posted 5 years 189 days ago by Administrator Account

Daily Market Summary for May 23^rd

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 Thursday, negotiated cash trading in Nebraska has been moderate on light demand.  Compared to the last reported market on Wednesday live cash trades moved steady to 1.00 higher at 116.00. Not enough dressed trades for a market trend. On Wednesday dressed trades ranged from 183.00-186.00. So far for Thursday in the Southern Plains and the Western Cornbelt negotiated cash trading has been limited on light demand. Not enough trades in these regions for a full market trend. The last reported market in these regions was on Wednesday. In the Texas Panhandle live cash trades moved at 115.00. In Kansas live cash trades were from 114.00-115.00. In the Western Cornbelt live cash trades moved from 116.00-118.00 and a light test of dressed cash trades moved from 185.00-186.00.

   

Negotiated Sales:

Confirmed: 27,904 --- Week Ago: 30,075 --- Year Ago: 1,738

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 32,800

Weighted avg weight:             856

Weighted avg net price:    191.92

  

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales Wednesday no new trade to report. Dressed bids have been reported from 248.00-250.00 delivered. Bids are 5.00 lower than the previous week. No live bids have been reported however using a 60% dressing percentage, dressed bids are working back on either side of 150.00 on a live basis.  Selling interest remains limited, many producers are looking for at least steady money with last week.

 

Livestock Slaughter under Federal Inspection:                                 

                                 Cattle        Calves    Hogs          Sheep

Thursday (est          117,000    2,000       472,000      9,000

Week ago (est)        121,000    2,000       464,000      8,000

Year ago (act)          122,000    2,000       454,000      8,000

Week to date (est) 477,000     8,000   1,882,000    36,000

Last Week (est)       484,000    8,000   1,845,000    34,000

Last Year (act)          481,000    8,000   1,829,000    33,000

Previous day estimated       Steers & Heifers   Cows & Bulls

                    Wednesday              95,000                  25,000

 

Boxed Beef:

Boxed beef cutout values firm to higher on moderate to fairly good demand and moderate offerings. Select and Choice rib, chuck, round, and loin cuts steady to firm. Beef trimmings mostly sharply higher on moderate to good demand and light offerings.

 

Cutout Values...                 Choice     Select

Current Cutout Values:     220.79    206.53

Change from prior day:       +1.04      +0.72

Choice/Select spread:          14.26

Total Load Count (Cuts, Trimmings, Grinds): 119

 

Cutter Cow Cutout: 171.91… -1.31

 

CME Feeder Cattle Index: 133.35… +1.19

 

Futures…

Live Cattle:

June: 110.80… +0.15

August: 108.15… +0.20

October: 108.05… +0.25

Feeder Cattle:

August: 143.02… +0.42

September: 144.00… +0.13

October: 144.75… Unchanged

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June Hogs: 89.42… -0.23

July Crude Oil: 57.91... -3.51

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July Corn: 3.8975… -0.0475

July Soybeans: 8.2150… -0.0700

July Wheat: 4.7025… -0.0250

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Cotton (www.ams.usda.gov)

July Cotton: 67.48… +0.73

Milk (www.cmegroup.com)

May Class III Milk: 16.38… +0.05

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Grain Cash Bids:

Kansas City Corn: 3.85… -0.05

Kansas City Soybeans: 7.74… -0.07

Kansas City Wheat: 4.50… -0.03

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Financial Markets:

Dow Jones Industrial Average: 25,490.40… -286.21

S & P 500: 2,822.27… -34.00

NASDAQ: 7,628.28… -122.56

U.S. Dollar Index: 97.88… -0.16