Aug 20 2019

Texas Daily Ag Market News Summary Posted 5 years 100 days ago by Administrator Account

Daily Market Summary for August 20^th

The Daily Market News Report bought to you by The Cattle Range. Please visit their website for more information!

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Bullish estimates for Friday’s Cattle on Feed Report helped push Live Cattle Futures 1.00+ higher while Boxed Beef continued to climb with the Choice Cutout closing 2.57 higher today, a gain of over 10% since the fire at the Tyson plant in Kansas.  Grain continued to fall on news of additional rain in the Cornbelt.  The CME Feeder Index halted its slide and closed higher today.

 

Slaughter Cattle:

As of 3:00 PM Tuesday negotiated cash trading in the Southern Plains and Nebraska has been at a standstill. In the Western Cornbelt negotiated cash trading has been inactive on very light demand. Not enough trades for a market trend. 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: 40 --- Week Ago: 292 --- Year Ago: 466

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 25,300

Weighted avg weight:             875

Weighted avg net price:    177.15

  

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales Monday saw no new trade to report. This week's showlist has been compiled with volumes larger than the previous week. Looking at the most recent weekly live cattle export data. Canadian fed cattle and cow exports to the US totaled just over 4,800 head, volumes are 16% smaller than the same time last year. Canfax released its August 1st cattle on feed report last Friday. Placements for the month of July were down almost 10% compared to last year while fed cattle marketings were up 7%. August 1st cattle on feed inventories are larger than last year and the five-year average.

    

Livestock Slaughter under Federal Inspection:                                 

                                   Cattle       Calves     Hogs          Sheep

Tuesday (est             116,000    2,000     482,000     8,000

Week ago (est)        116,000    2,000     476,000      9,000

Year ago (act)          118,000    2,000     465,000    10,000

Week to date (est) 231,000    4,000     962,000    17,000

Last Week (est)       231,000    4,000     934,000    18,000

Last Year (act)         235,000    4,000     911,000    19,000

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

                           Monday          93,000                     22,000

                               

Boxed Beef:

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     241.70     214.27

Change from prior day:       +2.57        -0.25

Choice/Select spread:          27.43

Total Load Count (Cuts, Trimmings, Grinds): 94

 

Cutter Cow Cutout: 176.07… +0.07

 

CME Feeder Cattle Index: 137.24… +0.91

 

Futures…

Live Cattle:

August: 101.80… +1.60

October: 100.00… +1.78

December: 104.82… +1.10

Feeder Cattle:

August: 136.30… +0.63

September: 133.72… +0.90

October: 133.65… +0.48

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September Hogs: 64.97… +0.95

September Crude Oil: 56.34… +0.13

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September Corn: 3.5950… -0.0550

September Soybeans: 8.5575… +0.0175

September Wheat: 4.6000… -0.0550

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Grain Cash Bids:

Kansas City Corn: 3.73… -0.06

Kansas City Soybeans: 8.13… +0.02

Kansas City Wheat: 4.55… -0.06

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Financial Markets:

Dow Jones Industrial Average: 25,962.44… -173.35

S & P 500: 2,900.51… -23.14

NASDAQ: 7,948.56… -54.25

U.S. Dollar Index: 98.15… -0.20