Aug 19 2019

Texas Daily Ag Market News Summary Posted 5 years 101 days ago by Administrator Account

Daily Market Summary for August 19th

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The estimated F.I. slaughter last week totaled 651,000 head and was actually higher than the previous week, indicating that adjustments were made in response to the Tyson fire.  The cattle futures markets reacted positively with moderate gains while the grains were all lower on the news that some key Cornbelt areas received rain over the weekend.  The CME Feeder Index, reflecting last week’s sharply lower prices for feeder cattle, was 1.27 lower at 136.33.  After gaining 22.32 last week, the Choice Boxed Beef Cutout closed only moderately higher today at 239.13, up 0.44.

 

Slaughter Cattle:

As of 3:00 PM Monday, negotiated cash trade has been inactive on light demand in all feeding regions. The latest established market was last week with live purchases in the Southern Plains at 105.00. In Nebraska last week on a light test, live purchases traded from 106.00-107.00 with dressed purchases traded from 165.00-172.00. Last week in the Western Cornbelt on a light test, live purchases traded from 106.50-110.00 with dressed purchases from 170.00-172.00.

   

Negotiated Sales:

Confirmed: 236 --- Week Ago: 138 --- Year Ago: 492

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 39,900

Weighted avg weight:             867

Weighted avg net price:    177.07

  

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales last week were too slight to establish a repeatable weekly trend and significant carry over has been rolled over into this week. Bids last week were reported from $232-234/cwt delivered were generally $10-13/cwt lower than the previous week. This week’s showlist will be larger and active trade is anticipated for Wednesday and Thursday.

    

Livestock Slaughter under Federal Inspection:                                 

                                   Cattle       Calves     Hogs          Sheep

Monday (est            115,000    2,000     472,000     9,000

Week ago (est)        115,000    2,000     458,000     9,000

Year ago (act)          117,000    2,000     446,000     9,000

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

                                Friday         91,000                     23,000

                           Saturday          64,000                    10,000

                               

Boxed Beef:

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     239.13     214.52

Change from prior day:       +0.44       +1.26

Choice/Select spread:          24.61

Total Load Count (Cuts, Trimmings, Grinds): 60

 

Cutter Cow Cutout: 176.00… -0.45

 

CME Feeder Cattle Index: 136.33… -1.27

 

Futures…

Live Cattle:

August: 100.20… +0.28

October: 98.22… +0.17

December: 103.72… +0.22

Feeder Cattle:

August: 135.67… +1.10

September: 132.82… +0.45

October: 133.17… +0.32

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September Hogs: 64.02… +2.02

September Crude Oil: 56.21… +1.34

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September Corn: 3.6500… -0.0600

September Soybeans: 8.5400… -0.1325

September Wheat: 4.6550… -0.0525

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Grain Cash Bids:

Kansas City Corn: 3.79… -0.06

Kansas City Soybeans: 8.12… -0.13

Kansas City Wheat: 4.61… -0.05

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Financial Markets:

Dow Jones Industrial Average: 26,135.73… +249.72

S & P 500: 2,923.62… +34.92

NASDAQ: 8,002.81… +106.82

U.S. Dollar Index: 98.38… +0.24