Jul 03 2019

Texas Daily Ag Market News Summary Posted 5 years 148 days ago by Administrator Account

Daily Market Summary for July 3rd

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, trading and demand has been moderate in the Southern Plains, Nebraska and the Western Cornbelt. In the Southern Plains, compared to last week, live cash trades moved steady at 109.00. In Nebraska, compared to the prior week, live cash trades moved steady to 1.50 higher from 111.00 to 113.00. A few dressed trades moved from 178.00 to 182.00. However, not enough for a full market trend. Last week dressed trades moved from 178.00 to 180.00. In the Western, compared to the previous week, live cash trades moved 1.00 higher from 112.00 to 113.00. A few dressed trades moved at 180.00. However, not enough for a full market trend. Last week dressed cash trades moved from 178.00 to 180.00.

    

Negotiated Sales:

Confirmed: 35,097 --- Week Ago: 1,755 --- Year Ago: none

  

Formula Net - Dressed Steers & Heifers

Head count priced today: 24,200

Weighted avg weight:            827

Weighted avg net price:   178.83

   

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales Tuesday saw no new trade to report. This week's showlist has been compiled with volumes smaller than the previous week. There is a good chance scattered trade will develop by this afternoon. Recent strength in the Canadian dollar has taken some shine off our technical support. Cash to futures basis levels historically strengthen from June to July as we are now priced off the August live cattle contract. Competition in the cash market was not great last week and we will have to see if that changes this week.  

    

Livestock Slaughter under Federal Inspection:                                  

                                   Cattle        Calves    Hogs          Sheep

Wednesday (est       122,000    2,000       480,000      8,000

Week ago (est)        121,000    2,000       473,000      7,000

Year ago (act)              1,000        0              2,000         0

Week to date (est)   365,000    6,000   1,411,000    26,000

Last Week (est)        363,000    6,000   1,396,000    22,000

Last Year (act)          236,000    5,000       928,000    17,000

Previous Day Estimated       Steers & Heifers     Cows & Bulls

                          Tuesday              98,000                    25,000

    

Boxed Beef: 

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     219.25    195.36

Change from prior day:        -1.22       -0.63

Choice/Select spread:          23.89

Total Load Count (Cuts, Trimmings, Grinds): 150

 

Cutter Cow Cutout: 174.15… -0.98

  

CME Feeder Cattle Index: 133.94… +0.73

 

Futures…

Live Cattle:

August: 105.45… +1.35

October: 106.30… +0.95

December: 110.92… +0.57

Feeder Cattle:

August: 136.57… -1.80

September: 136.95… -1.87

October: 137.60… -1.70

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August Hogs: 78.37… -0.60

August Crude Oil: 57.34… +1.09

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September Corn: 4.3675… +0.1775

August Soybeans: 8.8975… +0.1000

September Wheat: 5.1400… +0.1075

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Grain Cash Bids:

Kansas City Corn: 4.44… +0.25

Kansas City Soybeans: 8.39… +0.10

Kansas City Wheat: 5.09… +0.11

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Financial Markets:

Dow Jones Industrial Average: 26,966.00… +179.32

S & P 500: 2,995.82… +22.81

NASDAQ: 8,170.23… +61.14

U.S. Dollar Index: 96.78… +0.05