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Jun
26
2018

Texas Daily Ag Market News Summary

Posted 5 years 276 days ago by Administrator Account

Daily Market Summary for June 26th

 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:

Thus far for Tuesday trading has been mostly inactive on light demand. Not enough trades in any feeding region for an adequate market test. The latest established market was last week in all feeding regions. Last week in the Texas Panhandle, live trades were from 109.00 to 110.00. In Kansas last week, live trades were mostly at 108.00. For the prior week in Nebraska, live purchases were mostly at 109.00, with dressed purchases mostly at 172.00. In the Western Cornbelt, last week saw live trades from 108.00 to 109.00 and dressed purchases from 172.00 to 173.00.

 

Negotiated Sales:

Confirmed: 467    Week Ago: 633    Year Ago: 654

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 26,500
Weighted avg weight:       847.00
Weighted avg net price:    182.12

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Monday saw no new trade to report. This week's showlist has been compiled with volumes smaller than the previous week. Looking at the most recent weekly export data. Canadian fed cattle exports to the US totaled just over 3,800 head, volumes are 22% smaller compared to the same week last year.

 

Livestock Slaughter under Federal Inspection:

                                  CATTLE     CALVES     HOGS     SHEEP
Tuesday (est           115,000    2,000     447,000      9,000
Week ago (est)       120,000    2,000     448,000      9,000
Year ago (act)         117,000    2,000     440,000      9,000
Week to date (est) 231,000    4,000     882,000    17,000
Last Week (est)       238,000    4,000     863,000    17,000
Last Year (act)         233,000    4,000     874,000    15,000

 

 

Boxed Beef: 

Boxed beef cutout values weak to lower on light to moderate demand and moderate offerings. Select and Choice chuck and round cuts firm to higher while loin cuts weak. Choice rib cuts lower while Select steady. Beef trimmings lower on light demand and offerings.
 
Cutout Values...              Choice       Select
Current Cutout Values:  216.83      201.57
Change from prior day:    -0.86        -0.32
Choice/Select spread:       15.26

 

Futures Summary: 

 

CME Feeder Cattle Index: 141.75… -0.53
June Live Cattle Futures: 105.92… -0.05
August Live Cattle Futures: 102.42… -0.48
October Live Cattle Futures: 105.90… -0.52
August Feeder Cattle Futures: 146.10… +0.33
September Feeder Cattle Futures: 146.67… +0.17
November Feeder Cattle Futures: 146.60… +0.28
July Hog Futures: 79.12… +1.05

 

National Grain Market Summary:

Compared to yesterday, cash bids for wheat and soybeans were mostly lower, while corn and sorghum were mostly higher.  The ongoing trade issues in the global market added to market weakness, as did the high crop ratings we continue to see on the U.S. crops.  There are several reports coming in of low quality wheat this year, as well as low protein content.  It is not out of the question that a large amount of this could make it way into the feed grain market, if not domestically, globally.

 

July Corn Futures: 3.5250… +0.0200
July Soybean Futures: 8.6725… -0.0725
July Wheat Futures: 4.6950… -0.0725+
Kansas City Corn: 3.52… +0.02
Kansas City Soybeans: 8.64… -0.07
Kansas City Wheat: 4.88… -0.12
 
Nearby Crude Oil Futures Contract: 70.53… +2.34
Dow Jones Industrial Average: 24,283.04… +30.24
NASDAQ: 7,561.63… +29.62
U.S. Dollar Index: 94.76… +0.47





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