Jun 06 2019

Texas Daily Ag Market News Summary Posted 5 years 175 days ago by Administrator Account

Daily Market Summary for June 6^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 Thursday, negotiated cash trade in Nebraska has been light to moderate on moderate demand. Thus far for the week, live purchases have traded mostly 2.00 lower at 114.00 and early dressed trades from 183.00-184.00. Trading in the Western Cornbelt has been light on light on moderate demand with trading in the Southern Plains limited on light demand. Thus far for the week in the Western Cornbelt live and dressed cash trades have moved from 114.00-115.00 and 183.00- 184.00 respectively. However not enough in either regions for an adequate market trend. The last established market in the Texas Panhandle was on Monday with live purchases at 113.00. The last fully established market in Kansas on Tuesday, live purchases traded from 112.00-113.00. In Nebraska last week, 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: 29,241 --- Week Ago: 20,782 --- Year Ago: 1,309

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 18,900

Weighted avg weight:             832

Weighted avg net price:    187.48

  

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 positioned at the bottom end of last week's trading range. No live bids have been reported however using a 60% dressing percentage, dressed bids are working back to the mid to upper 140's on a live basis.

 

Livestock Slaughter under Federal Inspection:                                 

                                  Cattle        Calves    Hogs          Sheep

Thursday (est          121,000    2,000      474,000      8,000

Week ago (est)        122,000    2,000      468,000      8,000

Year ago (act)          121,000    1,000      445,000      8,000

Week to date (est) 481,000    8,000   1,893,000    34,000

Last Week (est)       368,000    6,000   1,408,000    26,000

Last Year (act)         479,000    7,000   1,786,000    33,000

Previous day estimated       Steers & Heifers   Cows & Bulls

                    Wednesday            94,000                    25,000

 

Boxed Beef:

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     222.25    207.16

Change from prior day:      +0.14      -0.02

Choice/Select spread:         15.09

Total Load Count (Cuts, Trimmings, Grinds): 116

 

Cutter Cow Cutout: 174.21… +0.19

 

CME Feeder Cattle Index: 131.73… -0.15

 

Futures…

Live Cattle:

June: 107.60… -0.25

August: 104.80… 0.13

October: 105.75… +0.20

Feeder Cattle:

August: 139.27… -0.18

September: 139.60… -0.10

October: 139.75… +0.03

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July Hogs: 86.35… +0.08

July Crude Oil: 52.59… +0.91

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July Corn: 4.2075… +0.0600

July Soybeans: 8.6875… -0.0100

July Wheat: 5.100… +0.1925

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Cotton (www.ams.usda.gov)

July Cotton: 68.59… -0.15

Milk (www.cmegroup.com)

June Class III Milk: 16.22… +0.10

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Grain Cash Bids:

Kansas City Corn: 4.16… +0.06

Kansas City Soybeans: 8.24… -0.01

Kansas City Wheat: 4.91… +0.19

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Financial Markets:

Dow Jones Industrial Average: 25,720.79… +181.22

S & P 500: 2,843.46… +17.24

NASDAQ: 7,615.55… +40.07

U.S. Dollar Index: 97.03… -0.29