Jun 20 2019

Texas Daily Ag Market News Summary Posted 5 years 161 days ago by Administrator Account

Daily Market Summary for June 20^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 was moderate on light demand in the Texas Panhandle.  Compared to last week’s light test, live purchases traded 2.00 lower at 110.00. Trade was moderate on light to moderate demand in Kansas. Compared to last week’s light test live purchases traded mostly steady from 108.00-110.00, bulk at 110.00. Trade and demand was light to moderate in Nebraska. Compared to last week’s light test live purchases traded 3.00 lower at 110.00. Early dressed purchases traded 4.00-5.00 lower from 180.00-183.00, bulk from 180.00-181.00. Trade was light on light to moderate demand in the Western Cornbelt. Not enough purchases for an adequate market test. On Wednesday, live purchases traded from 110.00-114.00 with dressed purchases from 180.00-183.00.

Friday’s Cattle on Feed report is expected to show June 1 on feed numbers up 1.3% from last year, May placements are down 4.1%, and marketings up 0.8%.

Negotiated Sales:

Confirmed: 42,996 --- Week Ago: 12,368 --- Year Ago: 1,581

Formula Net - Dressed Steers & Heifers

Head count priced today: 19,500

Weighted avg weight:             854

Weighted avg net price:    184.33

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales Wednesday saw light trade develop with dressed sales and bids ranging from 245.00-247.00 delivered. Bids and sales are 2.00-5.00 higher than the previous week. Live sales have been reported in the mid 140's and are fully steady with last week's weighted average price.  Buying interest has been noted from all three Western Canadian packers. With higher prices in Western Canada and lower prices in the US, cash to cash basis levels are strengthening.

Livestock Slaughter under Federal Inspection:                                 

                                Cattle        Calves     Hogs         Sheep

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

Week ago (est)       121,000    2,000      476,000     8,000

Year ago (act)         120,000    1,000      443,000     7,000

Week to date (est)  482,000    8,000   1,901,000   33,000

Last Week (est)      485,000    8,000   1,897,000    32,000

Last Year (act)         472,000    6,000   1,740,000    29,000

Previous Day Estimated       Steers & Heifers     Cows & Bulls

                    Wednesday              95,000                    26,000

Boxed Beef:

Boxed beef cutout values lower on light to moderate demand and offerings. Select and Choice rib and round cuts steady while chuck and loin cuts steady to weak. Beef trimmings not fully established.

 

Cutout Values...                 Choice     Select

Current Cutout Values:     220.72    201.48

Change from prior day:        -0.87       -0.76

Choice/Select spread:          19.24

Total Load Count (Cuts, Trimmings, Grinds): 103

Cutter Cow Cutout: 174.80… +0.84

CME Feeder Cattle Index: 133.02

Futures…

Live Cattle:

June: 108.17… -0.33

August: 103.95… -0.60

October: 105.57… -0.53

Feeder Cattle:

August: 134.70… -1.82

September: 135.37… -1.63

October: 135.82… -1.60

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July Hogs: 79.25… -2.37

July Crude Oil: 56.65… +2.89

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July Corn: 4.5000… +0.0900

July Soybeans: 9.1550… +0.1225

July Wheat: 5.2650… +0.0425

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Cotton (www.ams.usda.gov)

July Cotton: 63.21… -2.17

Milk (www.cmegroup.com)

June Class III Milk: 16.29… +0.01

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Grain Cash Bids:

Kansas City Corn: 4.49… +0.09

Kansas City Soybeans: 8.64… +0.12

Kansas City Wheat: 5.19… +0.04

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Financial Markets:

Dow Jones Industrial Average: 26,753.17… +249.17

S & P 500: 2,954.18… +27.73

NASDAQ: 8,051.34… +64.02

U.S. Dollar Index: 96.63… -0.49