Texas Daily Ag Market News Summary

Posted 3 years 7 days ago ago by Administrator Account

Daily Market Summary for Wednesday, April 11th:

The Daily Market News Report bought to you by The Cattle Range. Please visit http://cattlerange.com/ex-static.htm for more information!

TCR's Weekly Current & Projected Feedyard Closeout

Slaughter Cattle:  Thus far for Wednesday in the Southern Plains trading has been slow on light demand. A few early live cash trades in the Texas Panhandle have moved at 117.00. In Kansas a few early live trades have moved from 117.00-118.00. In the Northern Plains and Western Cornbelt for Wednesday trading has been inactive on very light demand. Not enough trades for a full market trend in any feeding region. Last week in the Texas Panhandle live cash trades were from 117.00-118.00. In Kansas live cash trades were mostly at 118.00. For the prior week in Nebraska live cash trades were from 114.00-119.00 and dressed trades were from 184.00-190.00. In Colorado last week a very light test of live cash trades were at 119.50. In the Western Cornbelt for the previous week saw live cash trades from 116.00-120.00 and dressed trades mostly at 188.00.

Negotiated Sales: Confirmed: 5,707   Week Ago: 12,400   Year Ago: 3,824 

Formula Purchases: Net - Dressed 
Head count priced today: 20,600 
Weighted avg weight:       861.00 
Weighted avg net price:    194.41 

Alberta Beef Producers Daily Report:  Alberta direct cattle sales Tuesday saw no new trade to report but there is a chance scattered trade could develop by this afternoon. Technical prices levels have improved since Monday. Roughly 5-10% of this weeks cash offering are calves. By the sounds of things packers are pulling hard on April contract cattle.

Livestock Slaughter under Federal Inspection
                             Cattle      Calves   Hogs        Sheep 
Wednesday   (est  119,000    2,000      466,000      7,000 
Week ago (est)     118,000    2,000      466,000      6,000 
Year ago (act)       115,000    2,000      447,000      9,000 
Week to date (est) 356,000    6,000   1,367,000    23,000 
Last Week (est)     339,000    6,000   1,247,000    22,000 
Last Year (act)       341,000    6,000   1,335,000    31,000

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

Cutout Values...            Choice        Select 
Current Cutout Values:    213.07         200.61 
Change from prior day:      -0.44            -0.72 
Choice/Select spread:       12.46

Futures Summary

April Live Cattle Futures: 113.50...+0.70

June Live Cattle Futures: 101.57...-0.53

August Live Cattle Futures: 102.37...+0.07

April Feeder Cattle Futures: 135.27...+0.45

May Feeder Cattle Futures: 135.55...+0.28

Aug Feeder Cattle Futures: 140.70...+0.08

CME Feeder Cattle Index: 134.85...+0.04

May Lean Hog Futures: 67.92...+0.47

National Grain Market Summary:  Compared to yesterday, cash bids for wheat were mixed, corn and soybeans were lower. A lack of fresh news put bearish pressure on the market today, with grains posting moderate losses.  Last week’s ethanol production totaled 1.034 million barrels per day, 4,000 less than the week prior.

Kansas City Corn: 3.73...-0.02

Kansas City Soybeans: 10.14...-0.03

Kansas City Wheat: 5.07...-0.05

May Corn Futures: 3.8700...-0.0225

May Soybean Futures: 10.4775...-0.0225

May Wheat Futures: 4.8725...-0.0475

Nearby Crude Oil Futures Contract: 66.82...+1.31

Dow Jones Industrial Average: 24,407.79

NASDAQ: 7,094.30

U.S. Dollar Index: 89.61