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Jun
14
2018

Texas Daily Ag Market News Summary

Posted 5 years 311 days ago by Administrator Account

Daily Market Summary for June 14th...

The Daily Market News Report bought to you by The Cattle Range. Please visit https://cattlerange.com/cattle-market-reports-analysis/daily-summary/ for more information!

Slaughter Cattle:

So far for Thursday in the Southern Plains trading has been at a standstill. In Nebraska and the Western Cornbelt trading has been limited on very light demand. Not enough trades for a market trend in these feeding regions. Last week in the Southern Plains and Western Cornbelt live cash trades were at 115.00 and dressed trades, in the Western Cornbelt, were from 182.00-183.00 with a few up to 184.00. For the prior week in Nebraska live cash trades were mostly from 114.00-115.00 and dressed trades were mostly from 183.00-184.00.

Negotiated Sales:

Confirmed: 6,482 Week Ago: 1,309 Year Ago: 7,694

Formula Net - Dressed Steers & Heifers

Head count priced today: 16,200

Weighted avg weight: 851.00

Weighted avg net price: 184.19

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Wednesday saw no new trade to report. Dressed bids have been reported in the upper 230's on a delivered basis. Bids are positioned at the bottom end of last week's trading range. Generally speaking, steady money is not motivating producers to sell cattle. Buying interest in the cash market remains moderate as packers are comfortably bought out in front.

Livestock Slaughter under Federal Inspection:

CATTLE CALVES HOGS SHEEP

Thursday (est 116,000 2,000 443,000 8,000

Week ago (est) 121,000 2,000 445,000 8,000

Year ago (act) 119,000 1,000 433,000 8,000

Week to date (est) 468,000 8,000 1,782,000 32,000

Last Week (est) 477,000 8,000 1,789,000 33,000

Last Year (act) 473,000 7,000 1,709,000 30,000

Boxed Beef:

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

Cutout Values... Choice Select

Current Cutout Values: 222.08 201.97

Change from prior day: -1.82 -0.33

Choice/Select spread: 20.11

Futures Summary:

CME Feeder Cattle Index: 140.70… -0.32

June Live Cattle Futures: 106.25… -1.67

August Live Cattle Futures: 101.87… -2.03

October Live Cattle Futures: 104.80… -2.12

August Feeder Cattle Futures: 143.67… -1.98

September Feeder Cattle Futures: 144.80… -1.87

November Feeder Cattle Futures: 144.77… -1.68

July Hog Futures: 81.62… -1.15

National Grain Market Summary:

Compared to yesterday, cash bids for wheat, corn, and soybeans were lower. Early Thursday, USDA said last week's export sales and shipments of corn totaled 36.9 million bushels (mb) and 55.3 mb respectively, neutral amounts for the week that have total shipments down 8% in 2017-18 from a year ago. Last week's export sales and shipments of soybeans totaled 19.1 mb and 22.0 mb respectively, a neutral combination that kept total soybean shipments down 9% in 2017-18 from a year ago. Last week's export sales and shipments of new-crop wheat totaled 11.1 mb and 11.4 mb respectively, a bearish and uninspiring start to the 2018-19 season that has total shipments 57% lower than a year ago.