Jul 26 2019

Texas Daily Ag Market News Summary Posted 5 years 125 days ago by Administrator Account

Daily Market Summary for July 26^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, negotiated cash trade was limited on moderate demand in the Southern Plains and Nebraska. Trade was light to moderate on moderate demand in the Western Cornbelt. A few early purchases were reported in the Western Cornbelt from 115.00-116.00 and at 185.00, however not enough for and adequate market test. The last established market in any feeding region was last week with live purchases in the Southern Plains at 111.00. In Nebraska live purchases traded from 113.00-113.50 with dressed purchases from 182.00-185.00. In the Western Cornbelt last week live purchases traded from 114.00-116.00 with dressed purchases from 182.00-185.00.

   

Trade in Kansas & Texas developed after 3:00 PM at mostly 112.00.

    

Negotiated Sales:

Confirmed: 11,110 --- Week Ago: 4,297 --- Year Ago: 487

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 25,400

Weighted avg weight:             833

Weighted avg net price:    184.16

   

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales Thursday saw light trade develop with dressed sales marked at 245.00 delivered. Sales are steady to 1.00 lower than Wednesday and fully steady with the previous week. Packers did get quite a few cattle bought and this week's showlist has been cleaned up. Cash to futures basis levels did weaken but still remain stronger than the five-year historical average. Cattle that were bought this week would be lifted in 2-4 weeks.

 

Livestock Slaughter under Federal Inspection:                                  

                                   Cattle       Calves    Hogs           Sheep

Friday (est               119,000      2,000      459,000      5,000

Week ago (est)       118,000      2,000      454,000      5,000

Year ago (act)         120,000      2,000      311,000      6,000

Week to date (est)  598,000   10,000   2,351,000    34,000

Last Week (est)       599,000   10,000   2,274,000    38,000

Last Year (act)         589,000   11,000   1,949,000    37,000

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

                         Thursday          97,000                     24,000              

                         

Boxed Beef: 

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     212.17     188.34

Change from prior day:       -0.40        -0.84

Choice/Select spread:        23.83

Total Load Count (Cuts, Trimmings, Grinds): 98

  

Cutter Cow Cutout: 173.86… -1.56

  

CME Feeder Cattle Index: 136.71

 

Futures…

Live Cattle:

August: 108.65… Unchanged

October: 109.90… Unchanged

December: 114.30… -0.05

Feeder Cattle:

August: 143.72… +0.92

September: 144.10… +0.58

October: 143.57… +0.30

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August Hogs: 86.42… +0.47

August Crude Oil: 56.20… +0.18

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September Corn: 4.1450… -0.0400

August Soybeans: 8.8325… +0.0075

September Wheat: 4.9600… -0.0350

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Grain Cash Bids:

Kansas City Corn: 4.27… -0.04

Kansas City Soybeans: 8.43… Unchanged

Kansas City Wheat: 4.91… -0.04

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Financial Markets:

Dow Jones Industrial Average: 27,192.45… +51.47

S & P 500: 3,025.86… +22.19

NASDAQ: 8,330.21… +91.67

U.S. Dollar Index: 98.02… +0.20