Texas Daily Ag Market News Summary

Posted 2 years 294 days ago ago by Administrator Account

Daily Market Summary for July 17th   

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Slaughter Cattle:

So far for Tuesday negotiated cash trading has been at a standstill. Last week in the Southern Plains live cash trades moved at 111.00. For the prior week in Nebraska live cash trades were from 109.50-111.00 and dressed trades were from 173.00-175.00 on a light test. In the Western Cornbelt the last fully reported market was two weeks ago with live trades mostly at 112.00 and dressed trades ranging from 175.00-180.00.


Negotiated Sales:

Confirmed: 111    Week Ago: 284    Year Ago: 2,977


Formula Net - Dressed Steers & Heifers

Head count priced today: 25,300
Weighted avg weight:       847.00
Weighted avg net price:    180.55


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 larger than the previous week. Looking at the most recent export data. Weekly Canadian fed exports to the US totaled just over 6,500 head. This is the fourth largest weekly export volume seen this year. YTD Canadian fed exports to the US are down 18% compared to last year. Last week Alberta fed prices were at a premium over both the Ontario and Nebraska markets.


Livestock Slaughter under Federal Inspection:                                  

                                CATTLE    CALVES    HOGS        SHEEP
Tuesday (est           120,000    2,000     461,000      8,000
Week ago (est)       120,000    2,000     457,000      9,000
Year ago (act)         118,000    2,000     436,000      9,000
Week to date (est) 236,000    4,000     892,000    16,000
Last Week (est)       239,000    4,000     901,000    16,000
Last Year (act)         226,000    4,000     853,000    16,000


Boxed Beef: 

Boxed beef cutout values firm to higher on moderate to fairly good demand and moderate to heavy offerings. Select and Choice round and loin cuts steady while rib cuts steady to firm. Choice chuck cuts steady while Select higher. Beef trimmings unevenly steady on moderate demand and offerings.
Cutout Values...              Choice       Select
Current Cutout Values:  204.39      196.86
Change from prior day:    +0.63         +1.19
Choice/Select spread:        7.53


Futures Summary: 


CME Feeder Cattle Index: 148.37… +0.10
August Live Cattle Futures: 106.42… -0.50
October Live Cattle Futures: 108.50… -0.15
December Live Cattle Futures: 112.62… -0.08
August Feeder Cattle Futures: 151.27… -1.10
September Feeder Cattle Futures: 151.70… -0.75
November Feeder Cattle Futures: 152.00… -0.62
August Hog Futures: 67.90… -1.30


National Grain Market Summary:

Compared to yesterday, cash bids for wheat were mixed, corn, soybeans, and sorghum were higher.  Grains gained some support today from a lower USDA crop rating. Updated corn crop ratings show 72% good to excellent, and soybean crop ratings show 69% good to excellent, both figures remain lower than year ago values.  USDA also put winter wheat at 74% harvested with 80% good to excellent.
September Corn Futures: 3.4625… +0.0450
August Soybean Futures: 8.3950… +0.1000
September Wheat Futures: 4.9775… +0.0925
Kansas City Corn: 3.51… +0.04
Kansas City Soybeans: 8.35… +0.10
Kansas City Wheat: 5.21… +0.06
Nearby Crude Oil Futures Contract: 68.03… -0.03
Dow Jones Industrial Average: 25,119.89… +55.53
NASDAQ: 7,855.12… +49.40
U.S. Dollar Index: 94.96… +0.44