Jun 25 2019

Texas Daily Ag Market News Summary Posted 5 years 156 days ago by Administrator Account

Daily Market Summary for June 25th

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Slaughter Cattle:  

As of 3:00 PM Tuesday, trade was limited on light demand in Nebraska and the Western Cornbelt. A few early dressed purchases were reported in those regions at 180.00, however not enough for an adequate market test. Trade was inactive on light demand in all other feeding regions. The latest established market in any feeding region was last week with live purchases in the Texas Panhandle from 108.00-110.00. In Kansas last week, live purchases traded from 108.00-110.00, bulk at 110.00. Last week in Nebraska, live purchases traded from 109.00-110.00, bulk at 110.00 with dressed purchases from 178.00-183.00, bulk at 180.00. For the previous week in the Western Cornbelt live purchases traded from 110.00-115.00 with dressed purchases mostly from 178.00-183.00.

    

Negotiated Sales:

Confirmed: 3,046 --- Week Ago: 239 --- Year Ago: 467

  

Formula Net - Dressed Steers & Heifers

Head count priced today: 27,500

Weighted avg weight:             840

Weighted avg net price:    180.27

   

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales Monday saw no new trade to report. This week's showlist has been compiled with volumes larger than the previous week. Looking at the most recent live cattle export data. Canadian cow and fed cattle exports to the US totaled just over 8,200 head, 39% larger than the same week last year. Increased slaughter volumes in Western Canada and larger export volumes to the US is helping us get through larger fed supplies.

 

Livestock Slaughter under Federal Inspection:                                  

                                Cattle        Calves    Hogs          Sheep

Tuesday (est           121,000    2,000     475,000     8,000

Week ago (est)       120,000    2,000     477,000     8,000

Year ago (act)         114,000    3,000     447,000     8,000

Week to date (est) 242,000   4,000     923,000    16,000

Last Week (est)      240,000    4,000     944,000    17,000

Last Year (act)        230,000    5,000     881,000    16,000

Previous Day Estimated       Steers & Heifers     Cows & Bulls

                          Monday              98,000                    23,000

    

Boxed Beef: 

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     219.64    198.95

Change from prior day:        -0.10       -0.86

Choice/Select spread:          20.69

Total Load Count (Cuts, Trimmings, Grinds): 151

 

Cutter Cow Cutout: 174.70… -0.45

  

CME Feeder Cattle Index: 131.46… +0.05

 

Futures…

Live Cattle:

June: 107.75… +0.83

August: 103.25… +0.83

October: 104.85… +0.83

Feeder Cattle:

August: 131.32… -0.45

September: 131.87… -0.48

October: 132.30… -0.30

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July Hogs: 74.40… +1.55

August Crude Oil: 57.83… -0.07

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July Corn: 4.4750… +0.0075

July Soybeans: 9.0350… -0.0550

July Wheat: 5.3575… -0.0225
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Grain Cash Bids:

Kansas City Corn: 4.50… Unchanged

Kansas City Soybeans: 8.52… -0.06

Kansas City Wheat: 5.31… -0.02

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Financial Markets:

Dow Jones Industrial Average: 26,548.22… -179.32

S & P 500: 2,917.38… -27.97

NASDAQ: 7,884.72… -120.98

U.S. Dollar Index: 96.19… +0.21