Texas Daily Ag Market News Summary

Slaughter Cattle:  

As of 3:00 PM Wednesday, negotiated cash trading in the Southern Plains has been limited on light demand. A few early live trades have moved at 111.00. However, not enough trades for a full market trend. For the prior week live cash trades moved at 112.00. Thus far for Wednesday in Nebraska and Western Cornbelt negotiated cash trading has been slow on light demand. Thus far for the week in Nebraska dressed cash trades have moved 2.00 higher at 185.00. Not enough live cash trades for a market trend. Last week live cash trades moved from 114.00-115.00, bulk at 115.00. Thus far for the week in the Western Cornbelt last week dressed cash trades have moved steady to 3.00 higher at 185.00. Not enough live trades for a full market trend. For the previous week live trades moved from 115.00-116.00 with a few up to 118.00.

Negotiated Sales:

Confirmed: 20,130 --- Week Ago: 113 --- Year Ago: 1,040

Formula Net - Dressed Steers & Heifers

Head count priced today: 24,100

Weighted avg weight:             840

Weighted avg net price:    183.04

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 eased since Monday.  Packers did get quite a few cattle bought last week and inventory wise packers are in decent shape heading into this week. Steady prices being paid in the US already this week should lend some support to our local market. That said we are likely closing in on a high for the summer market.

Livestock Slaughter under Federal Inspection:                                  

                                   Cattle       Calves    Hogs          Sheep

Wednesday (est     120,000    2,000       470,000     7,000

Week ago (est)       122,000    2,000       476,000     6,000

Year ago (act)         119,000    2,000       462,000      7,000

Week to date (est)  356,000    6,000   1,392,000    23,000

Last Week (est)       358,000    6,000   1,424,000    22,000

Last Year (act)         353,000    6,000   1,353,000    23,000

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

                           Tuesday           93,000                     24,000

Boxed Beef: 

Boxed beef cutout values weak to lower on moderate demand and offerings. Select and Choice rib, 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:     213.54     189.69

Change from prior day:        -0.49        -1.44

Choice/Select spread:          23.85

Total Load Count (Cuts, Trimmings, Grinds): 156

Cutter Cow Cutout: 173.26… -0.35

CME Feeder Cattle Index: 142.15… +0.07

Futures…

Live Cattle:

August: 106.90… -1.20

October: 107.65… -1.42

December: 112.22… -1.23

Feeder Cattle:

August: 141.52… -1.58

September: 142.45… -1.60

October: 142.55… -1.32

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August Hogs: 79.32… -2.98

August Crude Oil: 58.58… +0.53

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September Corn: 4.0025… -0.1100

August Soybeans: 8.6400… -0.1475

September Wheat: 4.8725… -0.1000

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Grain Cash Bids:

Kansas City Corn: 4.13… -0.11

Kansas City Soybeans: 8.24… -0.15

Kansas City Wheat: 4.82… -0.10

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Financial Markets:

Dow Jones Industrial Average: 26,864.27… -333.75

S & P 500: 2,980.38… -32.81

NASDAQ: 8,175.42… -98.19

U.S. Dollar Index: 98.62… +0.57