Aug 12 2019

Texas Daily Ag Market News Summary Posted 5 years 108 days ago by Administrator Account

Daily Market Summary for August 12^th

The Daily Market News Report bought to you by The Cattle Range. Please visit https://www.cattlerange.com/comprehensive-cattle-market-reports-analysis/daily-summary/ for more information!

 

Cattle markets reacted negatively to news of a major fire at a Tyson beef processing plant near Garden City KS.  Cattle futures were down the limit and Oklahoma City reported feeder & stocker cattle 6.00 to 12.00 lower while dressed beef surged higher.

Corn was down the limit due to the USDA WASDE report that a decline in harvested acres was virtually offset by an increase in yield projections.

 

Slaughter Cattle: 

As of 3:00 PM Monday negotiated cash trade was mostly inactive on light demand in all feeding regions. The latest established market was last week with live purchases in the Southern Plains at 110.00. In Nebraska last week, live purchases traded mostly at 113.00 with dressed purchases from 180.00- 185.00. For the previous week in the Western Cornbelt, live purchases traded from 113.00-115.00 with dressed purchases from 180.00-181.00.

   

Negotiated Sales:

Confirmed: 138 --- Week Ago: 83 --- Year Ago: 1,213

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 53,100

Weighted avg weight:             866

Weighted avg net price:    179.66

  

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 146.25 and 145.25 respectively. Prices are fully steady with the previous week. Weighted average fed steer prices have trended sideways for the past four weeks. Looking at the non-fed market, butcher cows traded 1.00 higher through commercial auction facilities last week. Butcher cow prices are trading at their highest point since early June. 

    

Livestock Slaughter under Federal Inspection:                                  

                                   Cattle       Calves     Hogs          Sheep

Monday (est            115,000    2,000     466,000     9,000

Week ago (est)        119,000    2,000     427,000     8,000

Year ago (act)          117,000    2,000     467,000     9,000

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

                              Friday          96,000                      22,000

                         Saturday          45,000                        3,000

                               

Boxed Beef:

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     218.62     197.79

Change from prior day:       +2.25       +3.98

Choice/Select spread:          20.83

Total Load Count (Cuts, Trimmings, Grinds): 151

 

Cutter Cow Cutout: 174.35… +0.10

 

CME Feeder Cattle Index: 141.10… -0.56

 

Futures…

Live Cattle:

August: 105.05… -3.00

October: 103.75… -3.00

December: 108.45… -3.00

Feeder Cattle:

August: 134.40… -4.50

September: 133.95… -4.50

October: 133.75… -4.50

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September Hogs: 66.07… -0.10

September Crude Oil: 54.93… +0.43

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September Corn: 3.8525… -0.2500

September Soybeans: 8.6675… -0.1225

September Wheat: 4.7175… -0.2775

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Grain Cash Bids:

Kansas City Corn: 3.99… -0.25

Kansas City Soybeans: 8.24… -0.16

Kansas City Wheat: 4.67… -0.28

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Financial Markets:

Dow Jones Industrial Average: 25,896.44… -391.00

S & P 500: 2,882.69… -35.96

NASDAQ: 7,863.41… -95.73

U.S. Dollar Index: 97.43… -0.06