Jun 05 2019

Texas Daily Ag Market News Summary Posted 5 years 176 days ago by Administrator Account

Daily Market Summary for June 5^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!

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Slaughter Cattle: 

As of 3:00 PM Wednesday, negotiated cash trade has been limited on light to moderate demand. Not enough trade in any regions for and adequate market trend. The last established market in the Texas Panhandle was on Monday with live purchases trading at 113.00. The last established market in Kansas was on Tuesday with live purchases trading from 112.00-113.00. In Nebraska last week, live purchases traded at 116.00 and dressed purchases from 186.00-188.00; with the bulk at 186.00. Last week in the Western Cornbelt, live trades moved from 115.00-118.00, with the bulk from 116.00-117.00. Dressed purchases traded from 185.00-187.00.

   

Negotiated Sales:

Confirmed: 6,988 --- Week Ago: 7,493 --- Year Ago: 282

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 19,900

Weighted avg weight:             822

Weighted avg net price:    185.89

  

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 prices levels improved since Monday. There have been rumblings packers are bidding steady money with last week. In 24 out of the past 30 years, monthly fed prices have trended lower from May to June. Barley prices continue to strengthen. Barley prices are now at the highest point this year. Higher cost of gains and lower fed prices has added selling pressure.

 

Livestock Slaughter under Federal Inspection:                                 

                                  Cattle        Calves    Hogs          Sheep

Wednesday (est      119,000    2,000      475,000     8,000

Week ago (est)        122,000    2,000      459,000     9,000

Year ago (act)          119,000    2,000      450,000     8,000

Week to date (est)   360,000    6,000   1,419,000    26,000

Last Week (est)       246,000     4,000     940,000    18,000

Last Year (act)          358,000    6,000   1,341,000    25,000

Previous day estimated       Steers & Heifers   Cows & Bulls

                          Tuesday              95,000                   25,000

 

Boxed Beef:

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     223.00    207.21

Change from prior day:        -0.20      +0.34

Choice/Select spread:          15.79

Total Load Count (Cuts, Trimmings, Grinds): 173

 

Cutter Cow Cutout: 174.02… +0.51

 

CME Feeder Cattle Index: 131.88… -0.31

 

Futures…

Live Cattle:

June: 107.85… +0.30

August: 104.67… +0.62

October: 105.55… +0.75

Feeder Cattle:

August: 139.45… +2.00

September: 139.70… +1.83

October: 139.72… +1.77

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July Hogs: 86.27… +0.47

July Crude Oil: 51.68… -1.80

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July Corn: 4.1475… -0.1050

July Soybeans: 8.6975… -0.1200

July Wheat: 4.9075… -0.1650

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Cotton (www.ams.usda.gov)

July Cotton: 68.74… -0.23

Milk (www.cmegroup.com)

June Class III Milk: 16.38… +0.00

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Grain Cash Bids:

Kansas City Corn: 4.10… -0.10

Kansas City Soybeans: 8.25… -0.12

Kansas City Wheat: 4.72… -0.16

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Financial Markets:

Dow Jones Industrial Average: 25,540.52… +208.34

S & P 500: 2,826.22… +22.95

NASDAQ: 7,575.48… +48.36

U.S. Dollar Index: 97.34… +0.27