Texas Daily Ag Market News Summary

Posted 3 years 225 days ago ago by Administrator Account

Daily Market Summary for April 26th

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Slaughter Cattle:
Thursday trade is limited on light to moderate demand in all feeding regions. A few early live purchases in the Southern Plains and Nebraska have been reported at 121.00. In Colorado a few early live purchase have been reported at 118.00. In the Western Cornbelt early dressed purchases have ranged from 193.00-195.00. However not enough purchases in any feeding region for and adequate market test. The latest established market was last week with live purchases in the Texas Panhandle mostly at 121.00. In Kansas last week, live purchases traded at 122.00. In the Northern Plains last week, live purchases ranged from 119.00-124.00 with dressed purchases in Nebraska at 195.00. In the Western Cornbelt for the previous week, live purchases traded from 122.00-125.00 with dressed purchases at 195.00.


Negotiated Sales:

Confirmed: 6,579    Week Ago: 28,525    Year Ago: 69,673


Formula Net - Dressed Steers & Heifers

Head count priced today: 24,000
Weighted avg weight:       876.00
Weighted avg net price:    194.17


Alberta Beef Producers Daily Report:

Alberta direct cattle sales Wednesday saw no new trade to report, live bids have been reported in the low 160's and are sitting roughly 3.00 higher than last week's weighted average price. Most of the April contract cattle have been worked through.


Livestock Slaughter under Federal Inspection:

                                 CATTLE    CALVES   HOGS       SHEEP
Thursday (est          119,000    2,000      464,000      8,000
Week ago (est)       115,000    2,000      464,000      8,000
Year ago (act)          119,000    1,000      440,000      7,000
Week to date (est) 474,000    8,000   1,859,000    32,000
Last Week (est)       470,000    8,000   1,858,000    31,000
Last Year (act)         469,000    7,000   1,770,000    27,000


Boxed Beef: 

Boxed beef cutout values higher on moderate to good demand and moderate to heavy offerings. Select and Choice rib, round, and loin cuts steady to firm while chuck cuts steady to weak. Beef trimmings not fully established.
Cutout Values...            Choice       Select
Current Cutout Values:    220.08       204.48
Change from prior day:      +1.55         +1.33  
Choice/Select spread:        15.60


Futures Summary: 

Live cattle futures ended the day with most contracts lower as April was up 60 cents ahead of Monday’s expiration. Feeder cattle futures were also lower, with April expiring at $140.175. The CME feeder cattle index was up $1.29 on April 25 at $139.49. Wholesale boxed beef values were higher on Thursday afternoon. Choice boxes were up $1.62 at $220.15, with Select boxes $1.33 higher at $204.48. Estimated week to date FI cattle slaughter was 474,000 head. That is 4,000 head above the previous week and up 5,000 head from the same week in 2017. Export sales of beef for the week of 4/19 were reported at 18,539 MT, down 6.9% from a week ago and 12.6% from last year at this time. Shipments of beef were shown at 15,724 MT, up 3.21% from last week and 15% larger than last year.
CME Feeder Cattle Index: 139.49… +1.29
April Live Cattle Futures: 122.52… +0.60
June Live Cattle Futures: 104.35… (1.22)
Aug Live Cattle Futures: 104.02… (1.25)
April Feeder Cattle Futures: 140.17… +0.32
May Feeder Cattle Futures: 140.30… (1.05)
August Feeder Cattle Futures: 146.50… (0.92)
May Hog Futures: 67.32… (1.23)


National Grain Market Summary:

Compared to yesterday cash bids for Wheat were lower, corn was mixed, and soybeans were higher.  Last week export sales and shipments totaled 27.4 and 67 million bushels of corn, 13.6 and 16.4 million bushels of soybeans.
May Corn Futures: 3.8600… (0.0050)
May Soybean Futures: 10.2800… +0.0050
May Wheat Futures: 4.8075… (0.0550)
Kansas City Corn: 3.81... Unchanged
Kansas City Soybeans: 10.11... +0.01
Kansas City Wheat: 5.02... (0.05)
Nearby Crude Oil Futures Contract: 68.19… +0.14
Dow Jones Industrial Average: 24,322.75… +238.92
NASDAQ: 7,118.68… +114.94
U.S. Dollar Index: 91.59… +0.34