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Jul
12
2018

Texas Daily Ag Market News Summary

Posted 5 years 261 days ago by Administrator Account

Daily Market Summary for July 12th  

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 negotiated cash trading in the Southern Plains and Nebraska has been at a standstill. In the Western Cornbelt negotiated cash trading has been inactive on light demand. Not enough trades for a full market trend. 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: 246    Week Ago: 358    Year Ago: 25,338

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 22,900
Weighted avg weight:       842.00
Weighted avg net price:    180.53

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Wednesday saw light trade develop with dressed sales ranging from 258.00-260.00 delivered. Sales are positioned at the top end of last week's trading range. Live bids are fully steady with last week's weighted average price.

 

Livestock Slaughter under Federal Inspection:

                                  CATTLE    CALVES    HOGS        SHEEP
Thursday (est         120,000    2,000      459,000     7,000
Week ago (est)       120,000    2,000      461,000     7,000
Year ago (act)         118,000    1,000      441,000      8,000
Week to date (est) 479,000    8,000   1,816,000    30,000
Last Week (est)       355,000    6,000   1,389,000    24,000
Last Year (act)         471,000    7,000   1,759,000    31,000

 

Boxed Beef: 

Boxed beef cutout values lower on Choice and steady on Select on light to moderate demand and offerings. Select and Choice rib and loin cuts steady to weak while chuck and round cuts steady to firm. Beef trimmings unevenly steady on light demand and offerings.
 
Cutout Values...              Choice       Select
Current Cutout Values:  206.58      197.01
Change from prior day:    -0.86         -0.13
Choice/Select spread:        9.57

Futures Summary: 

 

CME Feeder Cattle Index: 147.16… +2.08
August Live Cattle Futures: 105.02… +1.17
October Live Cattle Futures: 107.60… +1.35
December Live Cattle Futures: 111.57… +0.90
August Feeder Cattle Futures: 151.02… +1.62
September Feeder Cattle Futures: 150.97… +1.55
November Feeder Cattle Futures: 151.27… +1.32
August Hog Futures: 70.42… +1.62

 

National Grain Market Summary:

Compared to yesterday, cash bids for wheat were steady to higher, corn and sorghum were higher, and soybeans were mixed.  USDAs next round of World Agricultural Supply and Demand Estimates report was released today and fueled much of today’s trading. These new reports put US ending stocks for old crop corn at 1.552 billion bushels and new crop at 2.027 billion bushels, old crop soybeans estimated at 465 million bushels with new crop totaling 580 million bushels. New US ending stocks could be viewed as bullish for corn and neutral for soybeans.  Average yield for soybeans was increased to 48.5 bushels per acre, and corn yield was unchanged at 174 bushels per acre. Wheat was steady to 13 cents higher.  Corn was 5 3/4 to 9 3/4 cents higher.  Soybeans were mixed from 7 1/4 cent lower to 3/4 of a cent higher. Sorghum was 10 1/2 cents higher.

 

September Corn Futures: 3.4575… +0.0575
August Soybean Futures: 8.3375… +0.0075
September Wheat Futures: 4.8450… +0.1275
Kansas City Corn: 3.49… +0.06
Kansas City Soybeans: 8.26… +0.01
Kansas City Wheat: 5.11… +0.07
 
Nearby Crude Oil Futures Contract: 70.33… -0.05
Dow Jones Industrial Average: 24,924.89… +224.44
NASDAQ: 7,823.92… +107.31
U.S. Dollar Index: 94.79… +0.07





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