Aug 21 2019

Texas Daily Ag Market News Summary Posted 5 years 99 days ago by Administrator Account

Daily Market Summary for August 21st

---

Slaughter Cattle:

As of 3:00 PM Wednesday, negotiated cash trading in the Texas Panhandle has been at a standstill. In Kansas, Nebraska and the Western Cornbelt negotiated cash trading has been limited and 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: 1,893 --- Week Ago: 17,084 --- Year Ago: 26,746

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 25,400

Weighted avg weight:            870

Weighted avg net price:    181.26

  

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales Tuesday saw no new trade to report but there is a chance scattered trade could develop by this afternoon. Technical price levels have improved since Monday. Many producers carried cattle into this week and there will be additional pressure to sell cattle. Right now one of the biggest threats facing both the Canadian and US markets is losing currentness and backing cattle up.

    

Livestock Slaughter under Federal Inspection:                                 

                                 Cattle       Calves     Hogs        Sheep

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

Week ago (est)       116,000    2,000      483,000      6,000

Year ago (act)         117,000    2,000      473,000      7,000

Week to date (est)  347,000    6,000   1,444,000    24,000

Last Week (est)      347,000    6,000   1,417,000    24,000

Last Year (act)        352,000    6,000   1,384,000    26,000

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

                         Tuesday          91,000                   25,000

                                     

Boxed Beef:

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     241.74     215.70

Change from prior day:      +0.04       +1.43

Choice/Select spread:         26.04

Total Load Count (Cuts, Trimmings, Grinds): 105

 

Cutter Cow Cutout: 176.26… +0.19

 

CME Feeder Cattle Index: 137.18... -0.08

 

Futures…

Live Cattle:

August: 102.67… +0.87

October: 100.22… +0.22

December: 105.30… +0.48

Feeder Cattle:

August: 137.37… +1.07

September: 135.30… +1.58

October: 134.55… +0.90

---

September Hogs: 63.30… -1.67

October Crude Oil: 56.68… -0.45

---

September Corn: 3.6250… +0.0300

September Soybeans: 8.6050… +0.0475

September Wheat: 4.6250… +0.0250

---

Grain Cash Bids:

Kansas City Corn: 3.76… +0.03

Kansas City Soybeans: 8.18… +0.05

Kansas City Wheat: 4.58… +0.03

---

Financial Markets:

Dow Jones Industrial Average: 26,203.82… +241.38

S & P 500: 2,924.42… +23.91

NASDAQ: 8,020.21… +71.65

U.S. Dollar Index: 98.27… +0.08