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Aug
23
2019

Texas Daily Ag Market News Summary

Posted 4 years 195 days ago by Administrator Account

Daily Market Summary for August 23rd

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


 

Slaughter Cattle:

As of 3:00 PM Friday negotiated cash trading has been slow on light demand in the Southern Plains. Compared to the prior week live cash trades moved 1.00 higher at 106.00. In Nebraska and the Western Cornbelt negotiated cash trading has been slow with light to moderate demand. In Nebraska a few live trades moved at 108.00 and a few dressed trades moved from 175.00-178.00. In the Western Cornbelt a few dressed trades moved at 176.00. However, not enough trades in these two feeding regions for a full market trend. Last week in Nebraska live trades moved from 106.00-107.00 and dressed trades moved from 165.00-172.00, with a light test noted. Last week in the Western Cornbelt on a light test, live trades moved from 106.50-110.00 with dressed trades moved from 170.00-172.00.

   

Negotiated Sales:

Confirmed: 34,466 --- Week Ago: 5,042 --- Year Ago: 2,916

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 25,000

Weighted avg weight:             860

Weighted avg net price:    169.59

  

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales Thursday saw light trade develop with dressed sales reported at 237.00 delivered. Sales are a couple dollars lower than prices seen on Wednesday and a couple dollars higher than last week. Fed cattle pick-up dates were all over the map as packers were scheduling cattle anywhere from 1 to 4 week on the delivery. The way things are looking new annual lows will be established this week. Alberta fed prices are sitting at a 2.00 discount against the Nebraska market. Given the strong cash to cash basis it is not surprising all reported cash sales traded locally.

    

Livestock Slaughter under Federal Inspection:                                 

                                  Cattle       Calves     Hogs          Sheep

Friday (est               115,000     2,000      476,000      5,000

Week ago (est)        114,000     2,000      454,000      5,000

Year ago (act)          114,000     3,000      454,000      7,000

Week to date (est)  577,000   10,000   2,402,000    36,000

Last Week (est)       577,000   10,000   2,354,000    37,000

Last Year (act)         584,000   11,000   2,306,000    40,000

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

                         Thursday          91,000                     24,000                                 

                               

Boxed Beef:

Boxed beef cutout values lower to sharply lower on light to moderate demand and offerings. Select and Choice rib, round, and loin cuts steady to weak while chuck cuts lower. Beef trimmings not fully established.

 

Cutout Values...                 Choice     Select

Current Cutout Values:     237.52     212.71

Change from prior day:       -1.76        -3.20

Choice/Select spread:        24.81

Total Load Count (Cuts, Trimmings, Grinds): 77

 

Cutter Cow Cutout: 176.16… -0.17

 

CME Feeder Cattle Index: 139.72… +1.83

 

Futures…

Live Cattle:

August: 104.62… -0.35

October: 99.40… -1.70

December: 104.30… -1.80

Feeder Cattle:

August: 137.35… -1.05

September: 133.25… -3.17

October: 132.52… -2.95

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September Hogs: 59.30… -3.00

October Crude Oil: 54.17… -1.18

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September Corn: 3.5975… -0.0350

September Soybeans: 8.4325… -0.1275

September Wheat: 4.7525… +0.0800

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Grain Cash Bids:

Kansas City Corn: 3.72… -0.05

Kansas City Soybeans: 8.01… -0.11

Kansas City Wheat: 4.70… +0.08

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Financial Markets:

Dow Jones Industrial Average: 25,629.30… -622.94

S & P 500: 2,847.16… -75.79

NASDAQ: 7,751.77… -239.62

U.S. Dollar Index: 97.62… -0.55






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