Jun 13 2019

Texas Daily Ag Market News Summary Posted 5 years 168 days ago by Administrator Account

Daily Market Summary for June 13^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 trading in the Southern Plains, Nebraska and the Western Cornbelt has been limited on very light demand. In the Texas Panhandle a few early live trades have moved at 112.00. In Kansas a few early live trades have moved at 110.00. In Nebraska and the Western Cornbelt a few early dressed trades moved at 185.00. However, not enough trades for a full market trend in any feeding region. 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.

   

Negotiated Sales:

Confirmed: 12,368 --- Week Ago: 29,241 --- Year Ago: 6,482

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 23,300

Weighted avg weight:             824

Weighted avg net price:    183.68

  

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales Wednesday saw no new trade to report. Dressed bids have been reported at 240.00 delivered, bids are 3.00-5.00 lower than last week. Lower money is not motivating sellers to market cattle, many producers are looking for at least steady money with last week. It sounds like lift dates are tightening a little bit as one packer was still looking for cattle for early July delivery.

 

Livestock Slaughter under Federal Inspection:                                 

                                   Cattle        Calves    Hogs          Sheep

Thursday (est          121,000    2,000      476,000      8,000

Week ago (est)        121,000    2,000      474,000      8,000

Year ago (act)          115,000    1,000      440,000      9,000

Week to date (est) 485,000    8,000   1,897,000    32,000

Last Week (est)       481,000    8,000   1,893,000    34,000

Last Year (act)         465,000    7,000   1,778,000    36,000

Previous day Estimated    Steers & Heifers   Cows & Bulls

                    Wednesday           96,000                  25,000

 

Boxed Beef:

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     222.10    204.71

Change from prior day:        -0.05       -2.02

Choice/Select spread:          17.39

Total Load Count (Cuts, Trimmings, Grinds): 147

 

Cutter Cow Cutout: 174.41… +0.02

 

CME Feeder Cattle Index: 132.36… +0.07

 

Futures…

Live Cattle:

June: 109.05… -0.60

August: 104.72… -0.48

October: 106.15… -0.22

Feeder Cattle:

August: 136.22… -1.58

September: 136.50… -1.50

October: 136.47… -1.68

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July Hogs: 83.37… -1.00

July Crude Oil: 52.28… +1.14

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July Corn: 4.4200… +0.1200

July Soybeans: 8.8800… +0.1000

July Wheat: 5.3550… +0.0925

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Cotton (www.ams.usda.gov)

July Cotton: 66.83… +0.26

Milk (www.cmegroup.com)

June Class III Milk: 16.31… -0.01

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Grain Cash Bids:

Kansas City Corn: 4.40… +0.12

Kansas City Soybeans: 8.43… +0.12

Kansas City Wheat: 5.25… +0.08

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Financial Markets:

Dow Jones Industrial Average: 26,106.77… +101.94

S & P 500: 2,891.64… +11.81

NASDAQ: 7,837.13… +44.41