Jun 12 2019

Texas Daily Ag Market News Summary Posted 5 years 169 days ago by Administrator Account

Daily Market Summary for June 12^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 trading in Kansas, Nebraska and the Western Cornbelt has been limited on light demand. Not enough trades for a full market trend. In the Texas Panhandle negotiated cash trading has been at a standstill. 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 cash 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 cash trades from 182.00-186.00.  The FCE On-Line Auction offered 663 head today with 340 head selling at a weighted average price of $113.00.

   

Negotiated Sales:

Confirmed: 3,953 --- Week Ago: 6,988 --- Year Ago: 9,353

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 23,100

Weighted avg weight:            817

Weighted avg net price:    185.29

  

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. Packers remain comfortably bought out in front. Larger slaughter rates for the month of June will be necessary to get through thick fed cattle supplies. One point of concern is if moisture conditions don't improve across the prairies fed cattle will have to compete against cow for hook space.

 

Livestock Slaughter under Federal Inspection:                                 

                                 Cattle        Calves    Hogs          Sheep

Wednesday (est       121,000    2,000      478,000      8,000

Week ago (est)        119,000    2,000      475,000      8,000

Year ago (act)          114,000    2,000      447,000      9,000

Week to date (est)   364,000    6,000   1,421,000    24,000

Last Week (est)        360,000    6,000   1,419,000    26,000

Last Year (act)          350,000    6,000   1,338,000    27,000

Previous day Estimated    Steers & Heifers   Cows & Bulls

                         Tuesday          95,000                  27,000

 

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 mostly moderately to sharply lower on light demand and moderate offerings.

 

Cutout Values...                 Choice     Select

Current Cutout Values:     222.15    206.73

Change from prior day:        -0.24       -1.52

Choice/Select spread:          15.42

Total Load Count (Cuts, Trimmings, Grinds): 136

 

Cutter Cow Cutout: 174.39… -0.16

 

CME Feeder Cattle Index: 133.29... +0.34

 

Futures…

Live Cattle:

June: 109.65… -1.02

August: 105.20… -1.62

October: 106.37… -1.48

Feeder Cattle:

August: 137.80… -0.32

September: 138.00… -0.60

October: 138.15… -0.82

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July Hogs: 84.37… Unchanged

July Crude Oil: 51.14… -2.13

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July Corn: 4.3000… +0.0225

July Soybeans: 8.7800… +0.1875

July Wheat: 5.2625… +0.0825

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Cotton (www.ams.usda.gov)

July Cotton: 66.57… +0.92

Milk (www.cmegroup.com)

June Class III Milk: 16.32… -0.03

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Grain Cash Bids:

Kansas City Corn: 4.28… +0.03

Kansas City Soybeans: 8.31… +0.17

Kansas City Wheat: 5.17… +0.08

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Financial Markets:

Dow Jones Industrial Average: 26,004.90… -43.61

S & P 500: 2,879.83… -1.01

NASDAQ: 7,792.72… -29.85

U.S. Dollar Index: 96.99… +0.30