Texas Daily Ag Market News Summary

Posted 2 years 292 days ago ago by Administrator Account

Daily Market Summary for July 19th   

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Slaughter Cattle:

So far for Thursday negotiated cash trading in the Southern Plains and the Western Cornbelt has been at a standstill. In Nebraska 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: 77    Week Ago: 246    Year Ago: 2,564


Formula Net - Dressed Steers & Heifers

Head count priced today: 22,000
Weighted avg weight:        863.00
Weighted avg net price:    177.76


Alberta Beef Producers Daily Report:

Alberta direct cattle sales Tuesday saw no new trade to report. Live bids have been reported in the low 150's, bids are positioned at the bottom end of last week's trading range and are about 3.00 lower than last week's weighted average price. weaker basis levels did prompt some producers to pass cattle on Wednesday. The way things are shaping up sale volumes could be light this week.


Livestock Slaughter under Federal Inspection:                                  

                                   CATTLE    CALVES    HOGS        SHEEP
Thursday (est           121,000    2,000     461,000     7,000
Week ago (est)        120,000    2,000     454,000      7,000
Year ago (act)          114,000    1,000     438,000      8,000
Week to date (est) 476,000    8,000   1,814,000    30,000
Last Week (est)       479,000    8,000   1,811,000    30,000
Last Year (act)         457,000    7,000   1,732,000    31,000


Boxed Beef: 

Boxed beef cutout values steady to weak on light to moderate demand and moderate to heavy offerings. Select and Choice rib, chuck, and round cuts mostly steady to firm while loin cuts weak. Beef trimmings mostly slightly lower on light demand and light to moderate offerings.
Cutout Values...              Choice       Select
Current Cutout Values:  204.49      196.92
Change from prior day:     -0.31        -0.17
Choice/Select spread:        7.57


Futures Summary: 


CME Feeder Cattle Index: 148.31… -0.28
August Live Cattle Futures: 108.90… -0.05
October Live Cattle Futures: 110.65… Unchanged
December Live Cattle Futures: 114.42… +0.22
August Feeder Cattle Futures: 154.45… Unchanged
September Feeder Cattle Futures: 154.77… +0.12
November Feeder Cattle Futures: 154.92… +0.20
August Hog Futures: 67.25… +0.05
Nearby Crude Oil Futures Contract: 69.46… 0.70


National Grain Market Summary:

Compared to yesterday, cash bids for corn, soybeans, and sorghum were higher, while wheat was mixed.  USDA said last week's export sales and shipments of corn totaled 25.2 and 50.9 million bushels respectively, a neutral showing for the week that put total corn shipments at 1.884 billion bushels, down 3% in 2017-18 from a year ago.  Last week's export sales and shipments of soybeans totaled 9.3 and 22.2 million bushels respectively, a neutral combination that shows soybeans struggling to keep up with USDA's new export estimate of 2.085 billion bushels. Last week's export sales and shipments of wheat totaled 11.0 and 16.0 million bushels respectively, more than last week's amounts, but still a long way below USDA's expectations for 2018-19.
September Corn Futures: 3.5125… +0.0400
August Soybean Futures: 8.4600… +0.0375
September Wheat Futures: 5.0425… +0.0975
Kansas City Corn: 3.59… +0.04
Kansas City Soybeans: 8.44… +0.04
Kansas City Wheat: 5.27… +0.09


Financial Markets: 

Dow Jones Industrial Average: 25,064.90… -134.39
S & P 500: 2,804.55… -11.07
NASDAQ: 7,825.30… -29.14
U.S. Dollar Index: 95.21… +0.11