Aug 15 2019

Texas Daily Ag Market News Summary Posted 5 years 105 days ago by Administrator Account

Daily Market Summary for August 15^th

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A quiet day as the markets seem to have absorbed the news of the Tyson fire and are adjusting to the disruption.  Dressed beef was sharply higher again today with Feeder Cattle futures also showing strength.

 

Slaughter Cattle:

Thursday negotiated cash trade mostly inactive on light demand in all feeding regions. Not enough purchases in any region for an adequate market test. On Wednesday in the Southern Plains live purchases traded at 105.00. For the previous week in the Western Cornbelt, live purchases traded from 113.00-115.00 with dressed purchases from 180.00-181.00. In Nebraska last week, live purchases traded mostly at 113.00 with dressed purchases from 180.00-185.00.

   

Negotiated Sales:

Confirmed: 1,894 --- Week Ago: 5,446 --- Year Ago: 2,202

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 23,000

Weighted avg weight:             862

Weighted avg net price:    179.30

  

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales Wednesday saw no new trade to report but the market tone was lower. Dressed bids have been reported in the low to mid 230's on a delivered basis. Bids are 11.00-13.00 lower than last week. Producers have marketed a lot of cattle over the past month and inventory wise are in good shape. If bids do not improve many producers will carry cattle into next week.

    

Livestock Slaughter under Federal Inspection:                                 

                                   Cattle       Calves     Hogs          Sheep

Thursday (est          116,000    2,000      483,000      8,000

Week ago (est)       121,000    2,000       476,000      8,000

Year ago (act)          120,000    2,000      455,000      9,000

Week to date (est)  463,000    8,000   1,900,000    32,000

Last Week (est)       476,000    8,000   1,852,000    31,000

Last Year (act)         474,000    9,000   1,857,000    33,000

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

                  Wednesday            90,000                     26,000

                                

Boxed Beef:

Boxed beef cutout values sharply higher on good demand and light offerings. Select and Choice rib and round cuts firm while chuck and loin cuts higher. Beef trimmings mostly sharply higher on good demand and light offerings.

 

Cutout Values...                 Choice     Select

Current Cutout Values:     236.12     210.67

Change from prior day:       +3.78       +4.75

Choice/Select spread:          25.45

Total Load Count (Cuts, Trimmings, Grinds): 79

 

Cutter Cow Cutout: 175.54… +0.22

 

CME Feeder Cattle Index: 139.15... -0.74

 

Futures…

Live Cattle:

August: 100.20… Unchanged

October: 98.52… +0.02

December: 104.27… -0.28

Feeder Cattle:

August: 135.77… +1.30

September: 133.30… +0.48

October: 133.75… +0.38

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September Hogs: 65.00… -1.77

September Crude Oil: 54.47… -0.76

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September Corn: 3.6075… +0.0175

September Soybeans: 8.5800… -0.0750

September Wheat: 4.6900… -0.0475

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Grain Cash Bids:

Kansas City Corn: 3.74… +0.02

Kansas City Soybeans: 8.16… -0.07

Kansas City Wheat: 4.64… -0.05

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Financial Markets:

Dow Jones Industrial Average: 25,579.39… +99.97

S & P 500: 2,847.59… +7.00

NASDAQ: 7,766.62… -7.32

U.S. Dollar Index: 98.10… +0.11