Aug 06 2019

Texas Daily Ag Market News Summary Posted 5 years 114 days ago by Administrator Account

Daily Market Summary for August 6th

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 Kansas has been at a standstill. In the Texas Panhandle, Nebraska and the Western Cornbelt negotiated cash trading has been limited on very light demand. Not enough trades for a market trend. Last week in the Southern Plains live cash trades moved at 111.00. For the prior week in Nebraska live and dressed cash trades moved mostly at 114.00 and 185.00, respectively. For the previous week in the Western Cornbelt live and dressed cash trades moved mostly from 115.00-116.00 and at 185.00, respectively.

    

Negotiated Sales:

Confirmed: 5,228 --- Week Ago: 4,726 --- Year Ago: 1,498

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 33,200

Weighted avg weight:             853

Weighted avg net price:    184.63

   

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales last week saw light trade develop with weighted average steer and heifer prices closing the week at 146.50 and 145.50 respectively. Prices are fully steady with the previous week. All reported cash sales traded locally. The market is likely in the midst of putting in a third quarter high as prices seasonally trend lower the next couple of months. Looking at the non-fed market butcher cows traded 1.00 higher through commercial auction facilities last week. The next couple of weeks is traditionally when we see the tightest summer supplies.

    

Livestock Slaughter under Federal Inspection:                                  

                                 Cattle       Calves     Hogs          Sheep

Tuesday (est           118,000    2,000      477,000      8,000

Week ago (est)       117,000    2,000      470,000      7,000

Year ago (act)         119,000    2,000      455,000      8,000

Week to date (est)  237,000    4,000     904,000    16,000

Last Week (est)       236,000    4,000     922,000    16,000

Last Year (act)         236,000    4,000     849,000    17,000

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

                           Monday           97,000                    22,000

                               

Boxed Beef: 

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     215.78     192.65

Change from prior day:       +1.08       +0.98

Choice/Select spread:          23.13

Total Load Count (Cuts, Trimmings, Grinds): 122

  

Cutter Cow Cutout: 174.08… +0.04

  

CME Feeder Cattle Index: 142.61… Unchanged

 

Futures…

Live Cattle:

August: 107.12… -0.68

October: 106.22… -1.18

December: 110.90… -1.00

Feeder Cattle:

August: 139.97… -0.55

September: 139.45… +0.05

October: 138.65… 0.23

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September Hogs: 64.60… -2.82

September Crude Oil: 53.63… -1.06

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September Corn: 4.0400… -0.0125

September Soybeans: 8.5300… -0.0300

September Wheat: 4.8400… -0.1050

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Grain Cash Bids:

Kansas City Corn: 4.15… -0.01

Kansas City Soybeans: 8.09… -0.03

Kansas City Wheat: 4.79… -0.11

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Financial Markets:

Dow Jones Industrial Average: 25,717.74

S & P 500: 2,844.74

NASDAQ: 7,726.04

U.S. Dollar Index: 97.55