Texas Daily Ag Market News Summary

Posted 2 years 293 days ago ago by Administrator Account

Daily Market Summary for July 18th   

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Slaughter Cattle:

Thus far for Wednesday negotiated cash trading has been inactive on very light demand. Not enough trades for a market trend. 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: 262    Week Ago: 3,011    Year Ago: 12,893


Formula Net - Dressed Steers & Heifers

Head count priced today: 18,600
Weighted avg weight:        849.00
Weighted avg net price:    180.68


Alberta Beef Producers Daily Report:

Alberta direct cattle sales Tuesday saw no new trade to report but there is a chance scattered trade could develop by this afternoon. Technical price levels have improved from the beginning of the week. Some producers have indicated all their July contract cattle have been delivered. Looking at a counter-seasonal rally for fed cattle prices along with historically strong basis levels. This has encouraged producers to market cattle. 


Livestock Slaughter under Federal Inspection:                                  

                                 CATTLE    CALVES    HOGS        SHEEP
Wednesday (est     119,000    2,000      461,000      7,000
Week ago (est)       120,000    2,000      456,000      7,000
Year ago (act)         117,000    2,000      441,000       7,000
Week to date (est) 355,000    6,000   1,353,000    23,000
Last Week (est)       359,000    6,000   1,357,000    23,000
Last Year (act)         343,000    6,000   1,294,000    23,000


Boxed Beef: 

Boxed beef cutout values steady to firm on moderate demand and offerings. Select and Choice rib, chuck, round, and loin cuts steady to firm. Beef trimmings mostly sharply higher on moderate to good demand and moderate offerings.
Cutout Values...             Choice       Select
Current Cutout Values:  204.80      197.09
Change from prior day:    +0.41        +0.23
Choice/Select spread:        7.71


Futures Summary: 


CME Feeder Cattle Index: 148.59… +0.22
August Live Cattle Futures: 108.95… +2.53
October Live Cattle Futures: 110.65… +2.15
December Live Cattle Futures: 114.20… +1.58
August Feeder Cattle Futures: 154.45… +3.18
September Feeder Cattle Futures: 154.65… +2.95
November Feeder Cattle Futures: 154.72… +2.72
August Hog Futures: 67.20… -0.70
Nearby Crude Oil Futures Contract: 68.76… +0.73


National Grain Market Summary:

Compared to yesterday, cash bids for wheat were mostly lower, corn, soybeans, and sorghum were mostly higher.  USDA said last week’s ethanol production totaled 1.064 million barrels per day, 31,000 higher than the week prior.  Ethanol stocks have dropped 625,000 barrels from the previous week.


September Corn Futures: 3.4725… +0.0100
August Soybean Futures: 8.4225… +0.0275
September Wheat Futures: 4.9450… -0.0325
Kansas City Corn: 3.55… +0.04
Kansas City Soybeans: 8.40… +0.05
Kansas City Wheat: 5.18… -0.03

Financial Markets:

Dow Jones Industrial Average: 25,200.04… +80.15
NASDAQ: 7,854.44… -0.68
S & P 500: 2,815.62… +6.07
U.S. Dollar Index: 95.10… +0.14