May 30 2019

Texas Daily Ag Market News Summary Posted 5 years 182 days ago by Administrator Account

Daily Market Summary for May 30^th

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!

---

 

Slaughter Cattle: 

As of 3:00 PM Thursday, negotiated cash trade and demand was light to moderate in all feeing regions. Compared to Wednesday, live purchases in the Southern Plains traded steady at 115.00. In Nebraska, compared to last week, early live purchases have traded steady at 116.00. A few dressed purchases were reported from 186.00-187.00, however not enough for and adequate market test. Last week dressed purchases in Nebraska traded from 183.00-186.00. In the Western Cornbelt a few dressed purchases have traded at 187.00, however not enough for an adequate market trend. In the Western Cornbelt last week, live purchases traded from 116.00-118.00 with dressed purchases from 184.00-186.00.

   

Negotiated Sales:

Confirmed: 20,782 --- Week Ago: 27,904 --- Year Ago: 1,591

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 26,700

Weighted avg weight:             825

Weighted avg net price:    186.85

  

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales Wednesday saw light trade develop with dressed sales reported at 245.00 delivered. Sales are steady to 8.00 lower than last week. Live sales have been reported in the mid 140's and are 3.00 lower than last week's weighted average price. Packer competition in the cash market has been limited with one packer buying most of the cattle so far. May has been a tough month for the fed cattle market, since the beginning of May fed prices have dropped around 17.00 on a live basis.

 

Livestock Slaughter under Federal Inspection:                                 

                                   Cattle        Calves    Hogs          Sheep

Thursday (est          122,000    2,000      468,000      8,000

Week ago (est)        117,000    2,000      472,000      9,000

Year ago (act)          119,000    2,000      466,000      8,000

Week to date (est)   368,000    6,000   1,408,000    26,000

Last Week (est)       477,000    8,000   1,882,000    36,000

Last Year (act)         359,000    6,000   1,360,000    26,000

Previous day estimated       Steers & Heifers   Cows & Bulls

                    Wednesday             96,000                   26,000

 

Boxed Beef:

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     223.58    208.87

Change from prior day:      +0.05       -1.12

Choice/Select spread:         14.71

Total Load Count (Cuts, Trimmings, Grinds): 154

 

Cutter Cow Cutout: 173.75… +1.04

 

CME Feeder Cattle Index: 135.00… -1.66

 

Futures…

Live Cattle:

June: 110.07… -2.28

August: 105.05… -2.80

October: 105.67… -2.48

Feeder Cattle:

August: 138.22… -4.50

September: 138.52… -4.50

October: 138.35… -4.50

---

June Hogs: 83.67… -1.53

July Crude Oil: 56.59... -2.22

---

July Corn: 4.3625… +0.1750

July Soybeans: 8.8900… +0.1700

July Wheat: 5.1450… +0.2400

---

Cotton (www.ams.usda.gov)

July Cotton: 69.34… +0.28

Milk (www.cmegroup.com)

May Class III Milk: 16.38… +0.00

---

Grain Cash Bids:

Kansas City Corn: 4.31… +0.17

Kansas City Soybeans: 8.42… +0.17

Kansas City Wheat: 4.95… +0.24

---

Financial Markets:

Dow Jones Industrial Average: 25,170.08… +43.67

S & P 500: 2,788.86… +5.84

NASDAQ: 7,567.72… +20.41

U.S. Dollar Index: 98.14… Unchanged