Texas Daily Ag Market News Summary

Slaughter Cattle:  

As of 3:00 PM Wednesday, in the Texas Panhandle negotiated cash trading has been at a standstill. In Kansas, Nebraska and Western Cornbelt negotiated cash trading has been limited on very light demand. Not enough trades for a full 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: 2,917 --- Week Ago: 20,045 --- Year Ago: 2,872

Formula Net - Dressed Steers & Heifers

Head count priced today: 29,000

Weighted avg weight:           857

Weighted avg net price:   184.87

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales Tuesday saw no new trade to report. This week's showlist has been compiled with volumes larger than the previous week. There is a good chance light trade will develop by this afternoon. Technical price levels are unchanged from Monday. Based on the five-year average, cash to cash and cash to futures basis levels historically weaken from July to August. Packers will likely be pulling hard on August contract cattle.

Livestock Slaughter under Federal Inspection:                                  

                                   Cattle       Calves     Hogs          Sheep

Wednesday (est      118,000    2,000      472,000      7,000

Week ago (est)        120,000    2,000      470,000      7,000

Year ago (act)          119,000    3,000      464,000      7,000

Week to date (est) 355,000    6,000   1,376,000    23,000

Last Week (est)       356,000    6,000   1,392,000    23,000

Last Year (act)         355,000    7,000   1,313,000    24,000

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

                          Tuesday           92,000                     26,000

Boxed Beef: 

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

Cutout Values...                 Choice     Select

Current Cutout Values:     216.49     192.71

Change from prior day:       +0.06       +0.06

Choice/Select spread:          23.78

Total Load Count (Cuts, Trimmings, Grinds): 152

Cutter Cow Cutout: 173.74… -0.34

CME Feeder Cattle Index: 141.61... -0.04

Futures…

Live Cattle:

August: 107.60… +0.48

October: 106.45… +0.23

December: 111.17… +0.27

Feeder Cattle:

August: 139.55… -0.42

September: 139.37… -0.08

October: 138.90… +0.25

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September Hogs: 66.85… +2.25

September Crude Oil: 51.09… -2.54

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September Corn: 4.0650… +0.0250

September Soybeans: 8.5400… +0.0100

September Wheat: 4.8825… +0.0425

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Grain Cash Bids:

Kansas City Corn: 4.20… +0.05

Kansas City Soybeans: 8.13… +0.01

Kansas City Wheat: 4.83… +0.04

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Financial Markets:

Dow Jones Industrial Average: 26,006.87… -22.65

S & P 500: 2,844.01… +2.24

NASDAQ: 7,862.83… +29.56

U.S. Dollar Index: 97.61… -0.02