Texas Daily Ag Market News Summary

Posted 3 years 175 days ago ago by Administrator Account

Daily Market Summary for May 3rd
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Slaughter Cattle:

Thursday trade was very active on very good demand in the Southern Plains. Compared to last week in the Southern Plains, live purchases traded 2.00 higher at 126.00. Trade and demand was moderate in Nebraska a few live purchases have traded from 123.00-126.00 with a few dressed purchases up to 200.00. Not enough purchases for an adequate market test. Dressed purchases traded mostly at 195.00 on Wednesday with live purchases last week mostly at 126.00. Trade was light to moderate on moderate demand on in the Western Cornbelt. Compared to last week early live purchases have traded unevenly steady from 125.00-126.00. On Wednesday dressed purchases traded mostly from 195.00-196.00. Trade was inactive on moderate demand in Colorado. On Wednesday early live purchases were reported at 117.50. Last week live purchases in Colorado traded from 118.00-126.50.


Negotiated Sales:

Confirmed: 59,871    Week Ago: 6,599    Year Ago: 13,192


Formula Net - Dressed Steers & Heifers

Head count priced today: 13,200
Weighted avg weight:       838.00
Weighted avg net price:    199.42


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 fully steady with last week's weighted average price. By the sounds of things packers have been talking about adding a couple Saturday shifts to their work schedule. This week all three western Canadian packers have been showing interest on the cash market.


Livestock Slaughter under Federal Inspection:

                                 CATTLE    CALVES   HOGS       SHEEP
Thursday (est          119,000    2,000      464,000      7,000
Week ago (est)       119,000    2,000       464,000      7,000
Year ago (act)          117,000    1,000      443,000      7,000
Week to date (est) 472,000    8,000   1,853,000    27,000
Last Week (est)      474,000    8,000   1,859,000    31,000
Last Year (act)        454,000    7,000   1,722,000    27,000



Boxed Beef: 

Boxed beef cutout values firm to higher on moderate to fairly good demand and light to moderate offerings. Choice rib, chuck, round, and loin cuts steady while Select steady to firm. Beef trimmings mostly firm to higher on moderate demand and light offerings.
Cutout Values...            Choice       Select
Current Cutout Values:  227.56       209.17
Change from prior day:    +0.26         +1.29
Choice/Select spread:      18.39


Futures Summary: 


CME Feeder Cattle Index: 138.11… (1.02)
June Live Cattle Futures: 106.52… +1.67
August Live Cattle Futures: 105.52… +1.55
October Live Cattle Futures: 108.97… +1.17
May Feeder Cattle Futures: 140.80… +2.18
August Feeder Cattle Futures: 146.57… +2.12
September Feeder Cattle Futures: 147.05… +1.68
June Hog Futures: 73.50… Unchanged


National Grain Market Summary:


July Corn Futures: 4.0800… +0.0300
July Soybean Futures: 10.5325… +0.1025
July Wheat Futures: 5.3800… +0.1125
Kansas City Corn: Unavailable
Kansas City Soybeans: Unavailable
Kansas City Wheat: Unavailable
Nearby Crude Oil Futures Contract: 68.43… +0.50
Dow Jones Industrial Average: 23,930.70… +5.72
NASDAQ: 7,088.15… (12.75)
U.S. Dollar Index: 92.43… (0.28)