Jul 12 2019

Texas Daily Ag Market News Summary Posted 5 years 139 days ago by Administrator Account

Daily Market Summary for July 12^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 Friday in Nebraska and Western Cornbelt negotiated cash trading has been limited with good demand. In Nebraska a few dressed trades have moved from 182.00-185.00. In the Western Cornbelt a few live trades moved from 113.50-115.00 and a few dressed trades moved from 182.00- 185.00. However, not enough trades for a full market trend in either region. In the Southern Plains for Friday trading has been at a standstill. 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: 26,593 --- Week Ago: 1,312 --- Year Ago: 3,700

  

Formula Net - Dressed Steers & Heifers

Head count priced today: 17,300

Weighted avg weight:             836

Weighted avg net price:    179.07

   

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales Thursday saw light trade develop with dressed sales reported at 244.00 delivered. Sales are steady to 2.00 higher than Wednesday and 4.00 higher than last week. Cattle that were bought this week were being scheduled for the week of July 22 and 29 delivery. Cash to futures basis levels remain stronger than the five-year historical average. For the most part this week's cash offering has been clean up. 

 

Livestock Slaughter under Federal Inspection:                                  

                                   Cattle       Calves    Hogs          Sheep

Friday (est               116,000      2,000      465,000      5,000

Week ago (est)       118,000      2,000      444,000      1,000

Year ago (act)         118,000      2,000      438,000      7,000

Week to date (est)  594,000   10,000   2,379,000    39,000

Last Week (est)      486,000      8,000   1,880,000    27,000

Last Year (act)        594,000    11,000   2,253,000    37,000

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

                        Thursday           95,000                     23,000

    

Boxed Beef: 

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     212.80     189.60

Change from prior day:        -0.97        -1.19

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Choice/Select spread:           23.20

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

 

Cutter Cow Cutout: 173.98… -0.75

  

CME Feeder Cattle Index: 141.06… +1.74

 

Futures…

Live Cattle:

August: 108.47… +0.60

October: 109.97… +0.65

December: 114.22… +0.45

Feeder Cattle:

August: 141.60… -1.02

September: 142.55… -0.72

October: 142.85… -0.57

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August Hogs: 80.65… +1.48

August Crude Oil: 60.21… +0.01

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September Corn: 4.5425… +0.1000

August Soybeans: 9.1325… +0.1425

September Wheat: 5.2300… +0.0150

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Grain Cash Bids:

Kansas City Corn: 4.61… +0.08

Kansas City Soybeans: 8.68… +0.16

Kansas City Wheat: 5.18… +0.10

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Financial Markets:

Dow Jones Industrial Average: 27,332.10… +244.02

S & P 500: 3,013.75… +13.86

NASDAQ: 8,244.15… +48.11

U.S. Dollar Index: 96.83… -0.22