May 28 2019

Texas Daily Ag Market News Summary Posted 5 years 184 days ago by Administrator Account

Daily Market Summary for May 28th

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 Tuesday, negotiated cash trade was mostly inactive on light demand in all feeding regions. The latest established market in any feeding region, was last week with live purchases in the Texas Panhandle at 115.00. Last week in Kansas, live purchases traded from 114.00-115.00. In Nebraska last week, live purchases traded at 116.00, with dressed purchases from 183.00-186.00. For the previous week in the Western Cornbelt, live purchases traded from 116.00-118.00 with dressed purchases from 184.00.186.00.

   

Negotiated Sales:

Confirmed: 201 --- Week Ago: 681 --- Year Ago: 1,250

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 51,200

Weighted avg weight:            827

Weighted avg net price:    186.33

  

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales Monday saw no new trade to report, this week's showlist has been compiled with volumes larger than the previous week. With more calves entering the slaughter mix carcass weights are trending lower. Carcass weights should be nearing a seasonal low as weights historically bottom in late May to early June. Canadian AAA cutout values continue to impress. AAA cutout values have moved to a premium against the U.S. Choice cutout value.

 

Livestock Slaughter under Federal Inspection:                                 

                                   Cattle        Calves    Hogs          Sheep

Tuesday (est            121,000    2,000     479,000     9,000

Week ago (est)        120,000    2,000     470,000      9,000

Year ago (act)          118,000    2,000     427,000      9,000

Week to date (est)  124,000    2,000     481,000      9,000

Last Week (est)       240,000    4,000     942,000    18,000

Last Year (act)         122,000    2,000     429,000    10,000

Previous day estimated       Steers & Heifers   Cows & Bulls

                          Monday              2,000                     1,000

 

Boxed Beef:

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     223.29    210.45

Change from prior day:       +1.65      +1.98

Choice/Select spread:          12.84

Total Load Count (Cuts, Trimmings, Grinds): 106

 

Cutter Cow Cutout: 172.55… +0.43

 

CME Feeder Cattle Index: 136.05… -0.76

 

Futures…

Live Cattle:

June: 111.55… +0.38

August: 107.77… -0.18

October: 107.90… +0.13

Feeder Cattle:

August: 142.22… -1.00

September: 142.67… -1.20

October: 142.82… -1.40

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June Hogs: 83.97… -2.45

July Crude Oil: 58.92… +0.29

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July Corn: 4.2025… +0.1600

July Soybeans: 8.5600… +0.2625

July Wheat: 5.0475… +0.1525

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Cotton (www.ams.usda.gov)

July Cotton: 69.47… +1.08

Milk (www.cmegroup.com)

May Class III Milk: 16.38… +0.00

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Grain Cash Bids:

Kansas City Corn: 4.15… +0.16

Kansas City Soybeans: 8.16… +0.34

Kansas City Wheat: 4.85… +0.26

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Financial Markets:

Dow Jones Industrial Average: 25,347.77… -237.92

S & P 500: 2,802.38… -23.68

NASDAQ: 7,607.35… -29.66

U.S. Dollar Index: 97.94… +0.33