Jul 08 2019

Texas Daily Ag Market News Summary Posted 5 years 143 days ago by Administrator Account

Daily Market Summary for July 8^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 Monday, negotiated cash trade was mostly inactive on light demand in all feeding regions. The latest established market in any feeding region was last week with live purchases in the Southern Plains at 109.00. Last week in Nebraska, live purchases traded from 113.00-113.50 with dressed purchases at 180.00. In the Western Cornbelt last week, live purchases traded from 112.00-114.00 with dressed purchases at 180.00.

    

Negotiated Sales:

Confirmed: 146 --- Week Ago: 241 --- Year Ago: 141

  

Formula Net - Dressed Steers & Heifers

Head count priced today: 39,500

Weighted avg weight:             831

Weighted avg net price:    176.35

   

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales last week saw not enough trade to establish a weighted average steer or heifer price, but the market tone was steady to lower. Dressed bids were reported from 233.00-240.00 delivered. From their April highs fed cattle prices have dropped 12%. Over the past 20 years there has only been 3 times that first half highs have occurred during April. Looking at those three years the average decline from their April highs to second half low was 17%. Taking a look at the non-fed market butcher cows traded steady to 2.00 lower through commercial auction facilities last week. Recent rains across the prairies this has started to slow non-fed volumes. 

 

Livestock Slaughter under Federal Inspection:                                  

                                Cattle        Calves    Hogs          Sheep

Monday (est            120,000    2,000     479,000     9,000

Week ago (est)       120,000    2,000     451,000     9,000

Year ago (act)         118,000    2,000     443,000     8,000

 Previous Day Estimated       Steers & Heifers  Cows & Bulls

                               Friday               94,000                 24,000

                          Saturday               74,000                 13,000

    

Boxed Beef: 

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     217.46     194.41

Change from prior day:       -0.21        -0.39

Choice/Select spread:           23.05

Total Load Count (Cuts, Trimmings, Grinds): 126

 

Cutter Cow Cutout: 174.82… +0.03

  

CME Feeder Cattle Index: 133.21

 

Futures…

Live Cattle:

August: 106.15… -0.85

October: 107.40… -0.67

December: 111.87… -0.45

Feeder Cattle:

August: 138.90… +0.08

September: 138.75… +0.05

October: 138.87… -0.03

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August Hogs: 76.07… -0.98

August Crude Oil: 57.66… +0.15

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September Corn: 4.3950… +0.0075

August Soybeans: 8.7900… +0.0300

September Wheat: 5.1100… -0.0400

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Grain Cash Bids:

Kansas City Corn: 4.45… -0.01

Kansas City Soybeans: 8.30… +0.04

Kansas City Wheat: 5.06… -0.04

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Financial Markets:

Dow Jones Industrial Average: 26,806.14… -115.98

S & P 500: 2,975.95… -14.46

NASDAQ: 8,098.38… -63.41

U.S. Dollar Index: 97.41… +0.12