Jul 05 2019

Texas Daily Ag Market News Summary Posted 5 years 146 days ago by Administrator Account

Daily Market Summary for July 5^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!

---

 

Slaughter Cattle: 

As of 3:00 PM Friday negotiated cash trading has been at a standstill in the Southern Plains. In Nebraska and the Western Cornbelt negotiated cash trading has been inactive on very light demand. Not enough trades for a market trend. Wednesday was the last fully reported market in all major reported feeding regions. In the Southern Plains live cash trades moved at 109.00. In Nebraska live cash trades moved from mostly 113.00-113.50 and dressed cash trades moved at 180.00. In the Western Cornbelt live cash trades moved from 112.00-114.00 and dressed cash trades moved mostly at 180.00.

   

Negotiated Sales:

Confirmed: 1,312 --- Week Ago: 28,547 --- Year Ago: 99,268

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 31,000

Weighted avg weight:            845

Weighted avg net price:    179.41

  

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales Thursday saw no new trade to report, both buying and selling interest remains light. So far this week bids and sales have been reported from 233.00-240.00 delivered. Bids and sales are 4.00-5.00 lower than the previous week. With stronger prices in the US this week many producers here locally are looking for steady to higher prices. There have been indicating producers are willing to keep cattle on feed longer rather than sell at lower prices.

 

Livestock Slaughter under Federal Inspection:                                 

                                   Cattle        Calves    Hogs          Sheep

Friday (est                118,000    2,000        444,000         1,000

Week ago (est)        120,000    2,000        452,000         5,000

Year ago (act)          117,000    3,000        450,000          6,000

Week to date (est)   486,000    8,000     1,880,000        27,000

Last Week (est)       605,000   10,000    2,327,000       35,000

Last Year (act)         473,000   10,000    1,835,000        30,000

Saturday (est            87,000        0             192,000         0

Week ago (est)          60,000        0               57,000          2,000

Year ago (act)           96,000        0             151,000          1,000

Week to date (est)  573,000      8,000    2,072,000         27,000

Last Week (est)        665,000    10,000    2,384,000        37,000

Last Year* (act)        570,000    10,000    1,985,000        31,000

2019 YTD              16,834,000  284,000  64,538,000  1,048,000

2018 *YTD           16,633,000  274,000  62,532,000  1,024,000

Percent change         +1.2%      +3.5%         +3.2%           +2.4%

Previous Day Estimated       Steers & Heifers     Cows & Bulls

                         Thursday                1,000                      2,000

   

Boxed Beef:

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     217.67    194.80

Change from prior day:        -1.58       -0.56

Choice/Select spread:          22.87

Total Load Count (Cuts, Trimmings, Grinds): 109

 

Cutter Cow Cutout: 174.79… +0.64

 

CME Feeder Cattle Index: 133.21… -0.73

 

Futures…

Live Cattle:

August: 107.00… +1.55

October: 108.07… +1.77

December: 112.32… +1.40

Feeder Cattle:

August: 138.82… +2.25

September: 138.70… +1.75

October: 138.90… +1.30

---

August Hogs: 77.05… -1.32

August Crude Oil: 57.51… +0.17

---

September Corn: 4.3875… +0.0200

August Soybeans: 8.7600… -0.1375

September Wheat: 5.1500… +0.0100

---

Weekly National Grain Market Review

Compared to last week, cash bids for wheat was mostly lower; corn and soybeans were mixed; and sorghum was lower.  Ethanol production for week ending June 28th totaled 1.081 million barrels per day, a 9,000 barrel increase when compared to the week prior.  Ethanol stocks were at 22.84 mb this week, an increase of 1.277 mb. Monday's crop condition report showed corn at 56 percent good to excellent which would be 20 percent less than a year ago this time.  Soybean acres planted are now at 92 percent complete; a 7 percent increase from the previous week.  Some farmers did try and push their window as there were probably a few more acres planted early this week.  Grain markets have been a roller coaster this week with big swings up and the big swing down after last week's Acreage and Grain Stocks reports.  The futures market has almost dismissed that report earlier this week after more thought has gone into the announcement of the unplanned resurvey of 14 states.

 

Grain Cash Bids:

Kansas City Corn: 4.46… +0.02

Kansas City Soybeans: 8.26… -0.13

Kansas City Wheat: 5.10… +0.01

---

Financial Markets:

Dow Jones Industrial Average: 26,922.12… -43.88

S & P 500: 2,990.41… -5.41

NASDAQ: 8,161.79… -8.44

U.S. Dollar Index: 97.24… +0.47