Texas Daily Ag Market News Summary

Daily Market Summary for August 8th

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!

Slaughter Cattle:  

As of 3:00 PM Friday, negotiated cash trading in the Texas Panhandle was at standstill. In Kansas, Nebraska and the Western Cornbelt negotiated cash trading was limited on very light demand. In Nebraska a few live cash trades moved at 113.00. However, not enough trades for a full market trend in these feeding regions. 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: 16,245 --- Week Ago: 17,739 --- Year Ago: 12,865

Formula Net - Dressed Steers & Heifers

Head count priced today: 23,500

Weighted avg weight:            841

Weighted avg net price:   177.90

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales Thursday saw light trade develop with dressed sales ranging from 244.00-246.00 delivered. Sales are steady with prices seen on Wednesday and are 1.00-2.00 lower than last week. Buyers were indicating cattle that they bought this week would be lifted in late August or Early September. Cash to futures basis levels did weaken but still remain historically strong for this time of year. For the beginning of August this is one of the strongest basis levels over the past 30 years. 

Livestock Slaughter under Federal Inspection:                                  

                                   Cattle       Calves     Hogs          Sheep

Friday (est                118,000     2,000      451,000      5,000

Week ago (est)        114,000     2,000      453,000      5,000

Year ago (act)          118,000     3,000      423,000      6,000

Week to date (est) 594,000   10,000   2,303,000    36,000

Last Week (est)       591,000   10,000   2,317,000    35,000

Last Year (act)         591,000   12,000   2,201,000    38,000

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

                         Thursday          96,000                      25,000               

Boxed Beef: 

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

Cutout Values...                 Choice     Select

Current Cutout Values:     216.37     193.81

Change from prior day:        -0.51       +1.44

Choice/Select spread:          22.56

Total Load Count (Cuts, Trimmings, Grinds): 100

Cutter Cow Cutout: 174.25… +0.21

CME Feeder Cattle Index: 141.66… -0.20

Futures…

Live Cattle:

August: 108.05… +0.10

October: 106.75… Unchanged

December: 111.45… -0.17

Feeder Cattle:

August: 138.90… -0.95

September: 138.45… -1.42

October: 138.25… -1.37

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September Hogs: 66.97… -0.90

September Crude Oil: 54.50… +1.96

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September Corn: 4.1025… -0.00725

September Soybeans: 8.7375… +0.0350

September Wheat: 4.9950… +0.0100

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Grain Cash Bids:

Kansas City Corn: 4.24… -0.01

Kansas City Soybeans: 8.40… +0.11

Kansas City Wheat: 4.95… +0.01

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Financial Markets:

Dow Jones Industrial Average: 26,287.44… -90.75

S & P 500: 2,918.95… -19.44

NASDAQ: 7959.14… -80.02

U.S. Dollar Index: 97.54… -0.08