Jun 10 2019

Texas Daily Ag Market News Summary Posted 5 years 171 days ago by Administrator Account

Daily Market Summary for June 10^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 Monday, negotiated cash trading in the Southern Plains and Nebraska has been at a standstill. In the Western Cornbelt negotiated cash trading was inactive on very light demand. Not enough trades for a market trend. Last week in the Texas Panhandle live cash trades moved at 113.00. In Kansas live cash trades moved from 112.00-113.00. For the prior week in Nebraska live cash trades moved from 114.00-115.00 and dressed trades from 183.00-185.00. For the previous week in the Western Cornbelt live cash trades moved from 114.00-115.50 and dressed trades from 182.00-186.00.

Negotiated Sales:

Confirmed: 245 --- Week Ago: 2,615 --- Year Ago: 612

Formula Net - Dressed Steers & Heifers

Head count priced today: 31,200

Weighted avg weight:             831

Weighted avg net price:    184.78

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales last week saw light trade develop with weighted average steer and heifer prices closing the week at 145.50 and 144.50 respectively. Prices are steady to 0.50 lower than the previous week. New annual lows were established last week. Fed prices are only 3.50 shy of their 2018 annual lows. Looking at the non-fed market butcher cows traded 3.00 lower through commercial auction facilities last week and even more pressure was noted towards the end of the week. Dry conditions across pasts of the prairies is bringing cows to market.

Livestock Slaughter under Federal Inspection:                                 

                                Cattle        Calves    Hogs          Sheep

Monday (est           121,000    2,000     477,000     9,000

Week ago (est)       121,000    2,000     467,000     9,000

Year ago (act)        118,000    2,000     444,000     9,000

Previous day    Steers & Heifers   Cows & Bulls

          Friday             96,000                 23,000

    Saturday              50,000                 12,000

Boxed Beef:

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     221.66    208.79

Change from prior day:         -0.65      +1.87

Choice/Select spread:          12.87

Total Load Count (Cuts, Trimmings, Grinds): 91

Cutter Cow Cutout: 174.50… +0.01

CME Feeder Cattle Index: 132.26… +0.39

Futures…

Live Cattle:

June: 109.70… +2.78

August: 106.30… +3.00

October: 107.15… +2.65

Feeder Cattle:

August: 139.82… +2.57

September: 139.72… +2.37

October: 139.75… +2.38

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July Hogs: 86.20… +2.85

July Crude Oil: 53.26… -0.73

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July Corn: 4.1575… Unchanged

July Soybeans: 8.5850… +0.0225

July Wheat: 5.0750… +0.0300

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Cotton (www.ams.usda.gov)

July Cotton: 65.99… +0.40

Milk (www.cmegroup.com)

June Class III Milk: 16.30… +0.04

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Grain Cash Bids:

Kansas City Corn: 4.13… Unchanged

Kansas City Soybeans: 8.14… +0.03

Kansas City Wheat: 4.99… +0.03

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Financial Markets:

Dow Jones Industrial Average: 26,062.61… +78.67

S & P 500: 2,886.72… +13.38

NASDAQ: 7,823.17… +81.07

U.S. Dollar Index: 96.74… +0.20