Jul 10 2018

Texas Daily Ag Market News Summary Posted 5 years 288 days ago by Administrator Account

Daily Market Summary for July 10th

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Slaughter Cattle:

Thus far Tuesday, negotiated cash trade was mostly inactive on light demand in all feeding regions. The latest established market was last week, with live purchases in the Texas Panhandle mostly at 113.00. Last week in Kansas, live purchases traded mostly at 112.00 with a few up to 113.00. Last week in Nebraska, the bulk of live purchases traded from 113.50-114.00 with dressed purchases mostly at 180.00. In the Western Cornbelt for the previous week, live purchases traded mostly at 112.00, with dressed purchases ranging from 175.00-180.00.

 

Negotiated Sales:

Confirmed: 284    Week Ago: 604    Year Ago: 67

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 21,900

Weighted avg weight:       842.00

Weighted avg net price:    171.77

 

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. Last week on a cash to cash basis Alberta fed prices were at 4.50 premium over the Nebraska market. For the week ending June 30th western Canadian steer carcass weights averaged 837lb, weights are 12lb smaller than the previous week. Furthermore, carcass weights are right in line with the ten-year average.

 

Livestock Slaughter under Federal Inspection:

                                 CATTLE    CALVES    HOGS        SHEEP

Tuesday (est            120,000    2,000     457,000     9,000

Week ago (est)        118,000    2,000     463,000     9,000

Year ago (act)          119,000    2,000     440,000     9,000

Week to date (est) 239,000    4,000     901,000    16,000

Last Week (est)       234,000    4,000     926,000    17,000

Last Year (act)          237,000    4,000     877,000    16,000

 

Boxed Beef: 

Boxed beef cutout values steady to firm on moderate to fairly good demand and moderate offerings. Select and Choice chuck, round, and loin cuts steady to firm. Choice rib cuts steady while Select lower. Beef trimmings mostly sharply higher on good demand and heavy offerings.

 

Cutout Values...              Choice       Select

Current Cutout Values:  207.32      198.39

Change from prior day:   +0.40        -0.23

Choice/Select spread:       8.93

 

Futures Summary: 

 

CME Feeder Cattle Index: 146.75… +0.27

August Live Cattle Futures: 105.45… -0.67

October Live Cattle Futures: 107.82… -0.80

December Live Cattle Futures: 112.27… -0.68

August Feeder Cattle Futures: 151.85… +0.40

September Feeder Cattle Futures: 152.05… +0.28

November Feeder Cattle Futures: 151.15… +0.43

August Hog Futures: 69.77… -3.00

 

National Grain Market Summary:

Compared to yesterday, cash bids for wheat was mixed; corn and sorghum was lower and soybeans were steady to higher.  Favorable growing conditions for corn and soybeans have been taking its toll on prices in recent trading sessions with 75 percent of the corn crop rated good to excellent and 71 percent of the soybeans in those same categories.  Corn has been flirting with putting in new contract lows, however the close hasn't been able to accomplish that yet.  Wheat continues to struggle to find favorable items in the marketplace.

 

September Corn Futures: 3.4775… -0.0625

August Soybean Futures: 8.5575… Unchanged

September Wheat Futures: 4.9200… -0.1600

Kansas City Corn: 3.51... -0.06

Kansas City Soybeans: 8.70... Unchanged

Kansas City Wheat: 5.26... -0.11

 

Nearby Crude Oil Futures Contract: 74.11… +0.26

Dow Jones Industrial Average: 24,918.71… +142.12

NASDAQ: 7,759.20… +3.00

U.S. Dollar Index: 94.15… +0.05