Jul 23 2019

Texas Daily Ag Market News Summary Posted 5 years 128 days ago by Administrator Account

Daily Market Summary for July 23rd

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 trading in the Southern Plains and Nebraska has been at a standstill. In the Western Cornbelt negotiated cash trading has been inactive on very light demand. Not enough trades for a market trend. The last reported market was last week in these feeding regions. In the Southern Plains live cash trades moved at 111.00. In Nebraska live cash trades moved from 113.00-113.50 and dressed cash trades ranged from 182.00-185.00. In the Western Cornbelt live and dressed cash trades ranged from 114.00-116.00 and 182.00-185.00, respectively.

    

Negotiated Sales:

Confirmed: 259 --- Week Ago: 186 --- Year Ago: 313

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 26,000

Weighted avg weight:             852

Weighted avg net price:    183.08

   

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 steady with the previous week. Last week on a cash to cash basis Alberta fed prices were at a 1.00 discount against the Nebraska market. Western Canadian fed slaughter for the week ending July 13th totaled just over 42,000 head, volumes are 2% smaller than last year. The summer is always a tough period for beef demand. Seasonally beef cutout values trend lower into the summer bringing cattle prices down too.

 

Livestock Slaughter under Federal Inspection:                                  

                                   Cattle       Calves    Hogs          Sheep

Tuesday (est           122,000    2,000     475,000      8,000

Week ago (est)       121,000    2,000     475,000      9,000

Year ago (act)         119,000    3,000     460,000      8,000

Week to date (est)  236,000    4,000     948,000    16,000

Last Week (est)       238,000    4,000     885,000    18,000

Last Year (act)         229,000    5,000     884,000    16,000

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

                           Monday          91,000                     23,000

 

                         

Boxed Beef: 

Boxed beef cutout values steady to firm on moderate to good demand and moderate offerings. Select and Choice chuck and loin cuts steady to weak while rib and round cuts steady to firm. Beef trimmings were slightly to moderately lower on light demand and moderate offerings.

 

Cutout Values...                 Choice     Select

Current Cutout Values:     213.78     189.71

Change from prior day:       +0.46       +0.12

Choice/Select spread:         24.07

Total Load Count (Cuts, Trimmings, Grinds): 131

  

Cutter Cow Cutout: 174.96… -0.19

  

CME Feeder Cattle Index: 136.94… -1.22

 

Futures…

Live Cattle:

August: 109.05… +0.60

October: 109.87… +0.72

December: 114.25… +0.45

Feeder Cattle:

August: 142.20… +0.03

September: 142.45… +0.03

October: 142.67… +0.02

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August Hogs: 86.17… +2.95

August Crude Oil: 56.77… +0.55

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September Corn: 4.2550… +0.0325

August Soybeans: 8.8575… -0.0250

September Wheat: 4.8725… Unchanged

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Grain Cash Bids:

Kansas City Corn: 4.38… +0.02

Kansas City Soybeans: 8.46… -0.02

Kansas City Wheat: 4.82… Unchanged

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Financial Markets:

Dow Jones Industrial Average: 27,349.19… +177.29

S & P 500: 3,005.48… +20.47

NASDAQ: 8,251.40… +47.26

U.S. Dollar Index: 97.73… +0.47