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Jul
20
2018

Texas Daily Ag Market News Summary

Posted 2 years 291 days ago ago by Administrator Account

Daily Market Summary for July 20th   

 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 Friday negotiated cash trading in the Texas Panhandle has been at a standstill. In Kansas and Nebraska negotiated cash trading has been inactive on very light demand. In the Western Cornbelt cash trading has been slow on light demand. A few early dressed trades have moved at 180.00. However, not enough trades for a full 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: 5,044    Week Ago: 3,700    Year Ago: 38,738

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 19,100
Weighted avg weight:        848.00
Weighted avg net price:    176.33

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Thursday saw light trade develop with prices weakening from Wednesday to Thursday. Dressed sales were reported at 255.00 delivered. Sales are at the bottom end of last week's trading range. Buyers were indicating cattle that they bought this week were being scheduled for the first half of August delivery. 

 

Livestock Slaughter under Federal Inspection:                                  

                                 CATTLE    CALVES      HOGS            SHEEP
Friday (est               119,000     2,000        434,000          6,000
Week ago (est)       118,000     2,000        438,000          6,000
Year ago (act)         115,000      2,000        425,000         6,000
Week to date (est) 595,000   10,000     2,234,000       36,000
Last Week (est)       597,000   10,000     2,249,000       36,000
Last Year (act)         572,000     9,000      2,157,000      37,000
 
Saturday (est             40,000        0              148,000         1,000
Week ago (est)          53,000        0                26,000         0
Year ago (act)            45,000        0                47,000         0
Week to date (est) 635,000    10,000     2,382,000       37,000
Last Week (est)       650,000    10,000     2,275,000       36,000
Last Year* (act)       618,000    10,000     2,203,000       37,000
2018 YTD              17,918,00  294,000   67,189,000  1,097,000
2017 *YTD            17,384,00  274,000   65,247,000  1,065,000
Percent change           +3.1%     +7.4%        +3.0%          +3.0%

 

Boxed Beef: 

Boxed beef cutout values steady to weak on light to moderate demand and light offerings. Select and Choice rib, chuck, round, and loin cuts steady. Beef trimmings sharply higher on good demand and moderate offerings.
 
Cutout Values...              Choice       Select
Current Cutout Values:  204.17      197.00
Change from prior day:     -0.32        +0.08
Choice/Select spread:        7.17

 

Futures Summary: 

 

CME Feeder Cattle Index: 148.02… -0.29
August Live Cattle Futures: 108.92… +0.02
October Live Cattle Futures: 110.25… -0.40
December Live Cattle Futures: 114.20… -0.22
August Feeder Cattle Futures: 153.67… -0.78
September Feeder Cattle Futures: 154.55… -0.22
November Feeder Cattle Futures: 154.77… -0.15
 
August Hog Futures: 66.45… -0.80
Nearby Crude Oil Futures Contract: 70.46… +1.00

 

National Grain Market Summary:

Compared to last week, cash bids for wheat, corn, and sorghum were mixed, while soybeans were higher.  Weather is a key factor in crop condition this time of year, but the futures market doesn't appear to be concerned with it this year as yields in recent years haven't suffered despite weather conditions.  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.  Corn has seven more weeks to reach USDA's 2.400 billion bushel estimate and will probably fall short of the goal.  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. Wheat was mixed from 23 cents lower to 23 1/4 cents higher.  Corn was mixed from 11 1/2 cents lower to 10 1/2 cents higher.  Sorghum was mixed from 23 cents lower to 10 cents higher.  Soybeans were 6 1/4 to 17 1/4 cents higher.

 

September Corn Futures: 3.5525… +0.0400
August Soybean Futures: 8.4975… +0.0375
September Wheat Futures: 5.1600… +0.1175
Kansas City Corn: 3.60… +0.01
Kansas City Soybeans: 8.48… +0.04
Kansas City Wheat: 5.39… +0.12

 

Financial Markets: 

Dow Jones Industrial Average: 25,057.99… -6.51
S & P 500: 2,801.84… -2.71
NASDAQ: 7,820.20… -5.10
U.S. Dollar Index: 94.43… -0.72