Aug 22 2019

Texas Daily Ag Market News Summary Posted 5 years 98 days ago by Administrator Account

Daily Market Summary for August 22nd

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The markets are regaining some of the losses following the Tyson fire.  Both the Live Cattle & Feeder futures closed higher again today and stocker and feeder cattle were quoted 3.00 to 6.00 higher in many locations.  Light trade in slaughter cattle was higher with asking prices 3.00 to 5.00 higher.  The choice boxed beef cutout finally reversed course and closed 2.46 lower today.

 

Slaughter Cattle:

As of 3:00 PM Thursday, negotiated cash trading in the Texas Panhandle has been at a standstill. In Kansas negotiated cash trading has been inactive on very light demand. In Nebraska and the Western Cornbelt negotiated cash trading has been limited and on light demand. In Nebraska a few early dressed trades moved from 170.00-178.00. In the Western Cornbelt a few early dressed trades moved at 178.00. However, not enough trades in any feeding region 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: 10,338 --- Week Ago: 1,894 --- Year Ago: 34,714

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 30,100

Weighted avg weight:             868

Weighted avg net price:    175.41

 

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales Wednesday saw no new trade top report. Dressed bids have been reported from 237.00-239.00 delivered. Bids are steady to as much as much as 5.00 higher than last week. No live bids have been reported however using a 60% dressing percentage, dressed bids are working back to the low 140's on a live basis. Premiums are also being noted on higher grading cattle.

    

Livestock Slaughter under Federal Inspection:                                 

                                  Cattle       Calves     Hogs          Sheep

Thursday (est          115,000    2,000     482,000     8,000

Week ago (est)       116,000    2,000     483,000     8,000

Year ago (act)         118,000    2,000     468,000     7,000

Week to date (est) 462,000    8,000   1,926,000    31,000

Last Week (est)       463,000    8,000   1,900,000    32,000

Last Year (act)         470,000    8,000   1,852,000    33,000

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

                    Wednesday            91,000                     25,000

                               

Boxed Beef:

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     239.28     215.91

Change from prior day:        -2.46       +0.21

Choice/Select spread:          26.04

Total Load Count (Cuts, Trimmings, Grinds): 95

 

Cutter Cow Cutout: 176.33… +0.07

 

CME Feeder Cattle Index: 137.89… +0.71

 

Futures…

Live Cattle:

August: 104.97… +2.30

October: 101.10… +0.88

December: 106.10… +0.80

Feeder Cattle:

August: 138.40… +1.03

September: 136.42… +1.12

October: 135.47… +0.92

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September Hogs: 62.30… -1.00

October Crude Oil: 55.35… -0.33

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September Corn: 3.6325… +0.0075

September Soybeans: 8.5600… -0.0450

September Wheat: 4.6725… +0.0475

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Grain Cash Bids:

Kansas City Corn: 3.77… +0.01

Kansas City Soybeans: 8.12… -0.06

Kansas City Wheat: 4.62… +0.05

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Financial Markets:

Dow Jones Industrial Average: 26,252.24… +49.52

S & P 500: 2,922.95… -1.48

NASDAQ: 7,991.39… -28.82

U.S. Dollar Index: 98.18… -0.12