Jul 10 2019

Texas Daily Ag Market News Summary Posted 5 years 141 days ago by Administrator Account

Daily Market Summary for July 10^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 Wednesday, negotiated cash trade has been at a standstill in the Southern Plains, Nebraska and Western Cornbelt. The latest established market in any feeding region was last week with live purchases in the Southern Plains at 109.00. In Nebraska, live purchases traded from 113.00-113.50 with dressed purchases at 180.00. In the Western Cornbelt live purchases traded from 112.00-114.00 with dressed purchases at 180.00.

    

Negotiated Sales:

Confirmed: 38 --- Week Ago: 35,324 --- Year Ago: 262

  

Formula Net - Dressed Steers & Heifers

Head count priced today: 23,000

Weighted avg weight:             829

Weighted avg net price:    179.34

   

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales Tuesday saw no new trade to report, but there is a chance scattered trade could develop by this afternoon. Technical price levels have improved since Monday. By the sounds of things at least one packer operated on Saturday to make up for the July 1st holiday.  Packer margins are positive and one has to remember packers are seeing value in the cattle. With limited sale volumes last week we are dealing with some carry over numbers and there could be some pressure to market cattle. 

 

Livestock Slaughter under Federal Inspection:                                  

                                 Cattle        Calves    Hogs          Sheep

Wednesday (est     119,000    2,000      478,000      8,000

Week ago (est)       122,000    2,000      480,000      8,000

Year ago (act)         118,000    3,000      459,000      7,000

Week to date (est) 360,000    6,000   1,435,000    26,000

Last Week (est)       365,000    6,000   1,411,000    26,000

Last Year (act)         356,000    8,000   1,359,000    23,000

Previous Day Estimated   Steers & Heifers --- Cows & Bulls

                         Tuesday            97,000                    24,000

   

Boxed Beef: 

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     214.42     190.89

Change from prior day:        -0.31        -1.20

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Choice/Select spread:           23.53

Total Load Count (Cuts, Trimmings, Grinds): 182

 

Cutter Cow Cutout: 175.48… +0.20

  

CME Feeder Cattle Index: 135.76… +0.32

 

Futures…

Live Cattle:

August: 107.62… -0.50

October: 108.97… -0.33

December: 113.47… -0.23

Feeder Cattle:

August: 142.35… -0.52

September: 142.85… -0.27

October: 142.82… -0.20

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August Hogs: 81.72… +2.65

August Crude Oil: 60.43… +2.60

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September Corn: 4.3500… +0.0250

August Soybeans: 8.9450… +0.0850

September Wheat: 5.0475… +0.0200

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Grain Cash Bids:

Kansas City Corn: 4.40… +0.02

Kansas City Soybeans: 8.47… +0.10

Kansas City Wheat: 5.00… +0.02

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Financial Markets:

Dow Jones Industrial Average: 26,860.20… +76.71

S & P 500: 2,993.07… +13.44

NASDAQ: 8,202.53… +60.80

U.S. Dollar Index: 97.11… -0.39