Jul 09 2019

Texas Daily Ag Market News Summary Posted 5 years 142 days ago by Administrator Account

Daily Market Summary for July 9^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 Tuesday, negotiated cash trade has been at a standstill in the Southern Plains, Nebraska and the Western Cornbelt. 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: 60 --- Week Ago: 521 --- Year Ago: 284

  

Formula Net - Dressed Steers & Heifers

Head count priced today: 20,700

Weighted avg weight:             846

Weighted avg net price:    177.26

   

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. Western Canadian fed slaughter volumes for the week ending June 29th totaled just over 41,000 head. For the month of June fed slaughter volumes were down 3% compared to last year while western Canadian cow slaughter volumes were up 12%. Packers are likely well positioned with July and August contract cattle. Sellers are not expected to gain leverage over the packer for the next couple of months.

 

Livestock Slaughter under Federal Inspection:                                  

                                 Cattle        Calves    Hogs          Sheep

Tuesday (est           121,000    2,000     478,000      9,000

Week ago (est)       123,000    2,000     480,000      9,000

Year ago (act)         120,000    3,000     457,000      8,000

Week to date (est)  241,000    4,000     957,000    18,000

Last Week (est)       243,000    4,000     931,000    18,000

Last Year (act)         238,000    5,000     900,000    16,000

 Previous Day Estimated      Steers & Heifers   Cows & Bulls

                           Monday              98,000                  22,000

    

Boxed Beef: 

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     214.73     192.09

Change from prior day:        -2.73        -2.32

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Choice/Select spread:         22.64

Total Load Count (Cuts, Trimmings, Grinds): 134

 

Cutter Cow Cutout: 175.28… +0.46

  

CME Feeder Cattle Index: 135.44… +1.07

 

Futures…

Live Cattle:

August: 108.12… +1.97

October: 109.30… +1.90

December: 113.70… +1.83

Feeder Cattle:

August: 142.87… +3.97

September: 143.12… +4.37

October: 143.02… +4.15

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August Hogs: 79.07… +3.00

August Crude Oil: 57.83… +0.17

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September Corn: 4.3250… -0.0700

August Soybeans: 8.8600… +0.0700

September Wheat: 5.0275… -0.0825

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Grain Cash Bids:

Kansas City Corn: 4.38… -0.07

Kansas City Soybeans: 8.37… +0.07

Kansas City Wheat: 4.98… -0.08

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Financial Markets:

Dow Jones Industrial Average: 26,783.49… -22.65

S & P 500: 2,979.63… +3.68

NASDAQ: 8,141.73… +43.35

U.S. Dollar Index: 97.50… +0.12