May 29 2019

Texas Daily Ag Market News Summary Posted 5 years 183 days ago by Administrator Account

Daily Market Summary for May 29th

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 Wednesday, negotiated cash trade was limited on light to moderate demand in the Southern Plains, Nebraska and the Western Cornbelt. A few early live purchases were reported in the Southern Plains as 115.00, with a few in Nebraska at 116.00. However not enough purchases in any feeding region for an adequate market test. 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.  The FCE online auction offered 483 head today with 137 head sold @ $115 per cwt.

   

Negotiated Sales:

Confirmed: 7,493 --- Week Ago: 35,522 --- Year Ago: 1,633

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 24,500

Weighted avg weight:             828

Weighted avg net price:    187.78

 

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 have improved since Monday. Last week Ontario dressed prices were a premium over the Alberta market. Last week Alberta fed prices were also at a 9.00 discount against the Nebraska market. From a supply standpoint more fed calves are on the horizon. In order to get through these growing fed supplies packers will have to increase or add more hours to the work week schedule.

 

Livestock Slaughter under Federal Inspection:                                 

                                   Cattle        Calves    Hogs          Sheep

Wednesday (est      122,000    2,000     476,000     9,000

Week ago (est)        120,000    2,000     468,000     9,000

Year ago (act)          118,000    2,000     465,000     8,000

Week to date (est)  246,000    4,000     957,000    18,000

Last Week (est)       360,000    6,000   1,410,000    27,000

Last Year (act)         240,000    4,000     894,000    18,000

Previous day estimated       Steers & Heifers   Cows & Bulls

                       Tuesday            95,000                    26,000

 

Boxed Beef:

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     223.53    209.99

Change from prior day:      +0.24       -0.46

Choice/Select spread:        13.54

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

 

Cutter Cow Cutout: 172.71… +0.16

 

CME Feeder Cattle Index: 136.65… +0.10

 

Futures…

Live Cattle:

June: 112.35… +0.80

August: 107.85… +0.08

October: 108.15… +0.25

Feeder Cattle:

August: 142.72… +0.50

September: 143.02… +0.35

October: 142.85… +0.03

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June Hogs: 85.20… +1.23

July Crude Oil: 58.81… -0.33

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July Corn: 4.1875… -0.0150

July Soybeans: 8.7200… +0.1600

July Wheat: 4.9050… -0.1425

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Cotton (www.ams.usda.gov)

July Cotton: 69.06… -0.41

Milk (www.cmegroup.com)

May Class III Milk: 16.38… +0.00

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Grain Cash Bids:

Kansas City Corn: 4.14… -0.01

Kansas City Soybeans: 8.25… +0.16

Kansas City Wheat: 4.71… -0.14

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Financial Markets:

Dow Jones Industrial Average: 25,126.41… -221.36

S & P 500: 2,783.02… -19.36

NASDAQ: 7,547.31… -60.04

U.S. Dollar Index: 98.17… +0.23