Jul 11 2019

Texas Daily Ag Market News Summary Posted 5 years 140 days ago by Administrator Account

Daily Market Summary for July 11^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 Thursday, trade was limited on good demand in Nebraska and the Western Cornbelt. Early dressed purchases in Nebraska traded at 185.00 with early purchases in the Western Cornbelt ranging from 114.00-115.00 and 182.00-185.00 respectively. However not enough purchases in either feeding region for an adequate market test. Trade was inactive on light demand in all other feeding regions. 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: 12,822 --- Week Ago: none --- Year Ago: 246

  

Formula Net - Dressed Steers & Heifers

Head count priced today:       31,200

Weighted avg weight:            855

Weighted avg net price:         179.40

   

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales Wednesday saw no new trade to report. Dressed bids have been reported at 238.00 delivered Bids are steady to 2.00 lower than last week. Packers are not getting cattle bought which could force them to raise bids. It is looking like there is more competition on the cash market compared to the past couple of weeks. With all three western Canadian packers showing interest on the cash market bids could push into the 240's on a delivered basis.

 

Livestock Slaughter under Federal Inspection:                                  

                                   Cattle       Calves    Hogs          Sheep

Thursday (est          118,000     2,000     479,000       8,000

Week ago (est)            3,000        0            25,000         0

Year ago (act)          120,000    1,000     456,000       7,000

Week to date (est) 478,000    8,000   1,914,000    34,000

Last Week (est)       368,000    6,000   1,436,000    26,000

Last Year (act)         476,000    9,000   1,815,000    30,000

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

                    Wednesday          96,000                     23,000

    

Boxed Beef: 

Boxed beef cutout values steady to weak on light to moderate demand and offerings.  Select and Choice cuts steady to weak.  Beef trimmings mostly slightly to moderately lower on light demand and moderate offerings

 

Cutout Values...                 Choice     Select

Current Cutout Values:     213.77     190.79

Change from prior day:        -0.65        -0.10

---------------------------------------------------

Choice/Select spread:           22.98

Total Load Count (Cuts, Trimmings, Grinds): 148

 

Cutter Cow Cutout: 174.73… -0.75

  

CME Feeder Cattle Index: 139.32… +3.50

 

Futures…

Live Cattle:

August: 107.87… +0.25

October: 109.32… +0.35

December: 113.77… +0.30

Feeder Cattle:

August: 142.62… +0.27

September: 143.27… +0.42

October: 143.42… +0.60

---

August Hogs: 79.17… -2.55

August Crude Oil: 60.20… -0.23

---

September Corn: 4.4425… +0.0925

August Soybeans: 8.9900… +0.0450

September Wheat: 5.2150… +0.1675

---

Grain Cash Bids:

Kansas City Corn: 4.53… +0.13

Kansas City Soybeans: 8.52… +0.05

Kansas City Wheat: 5.17… +0.17

---

Financial Markets:

Dow Jones Industrial Average: 27,088.08… +227.88

S & P 500: 2,999.89… +6.82

NASDAQ: 8,196.04… -6.49

U.S. Dollar Index: 97.05… -0.06