Texas Daily Ag Market News Summary

Posted 2 years 287 days ago ago by Administrator Account

Daily Market Summary for July 24th   

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Slaughter Cattle:

Tuesday negotiated cash trading has been at a standstill in the Southern Plains and Nebraska. In the Western Cornbelt trading has been inactive on very light demand. Not enough trades for a market trend. Last week in the Southern Plains and Nebraska live cash trades moved at 113.00 and dressed cash trades in Nebraska moved from 178.00-181.00. For the prior week in the Western Cornbelt live cash trades moved mostly at 112.00 and dressed trades moved from 178.00-180.00.


Negotiated Sales:

Confirmed: 313    Week Ago: 111    Year Ago: 1,659


Formula Net - Dressed Steers & Heifers

Head count priced today: 25,300
Weighted avg weight:      845.00
Weighted avg net price:   179.77


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 steady with the previous week. Last week on a cash to cash basis Alberta fed prices were at a 3.50 premium over the Nebraska market. For the week ending July 14th Western Canadian fed slaughter volumes totaled just over 42,000 head. Volumes are steady with the same week last year.


Livestock Slaughter under Federal Inspection:                                  

                                 CATTLE    CALVES    HOGS        SHEEP
Tuesday (est           120,000    2,000     457,000      8,000
Week ago (est)       120,000    2,000     461,000      8,000
Year ago (act)         119,000    2,000     446,000      9,000
Week to date (est) 231,000    4,000     878,000    15,000
Last Week (est)       236,000    4,000     892,000    16,000
Last Year (act)         229,000    3,000     858,000    16,000


Boxed Beef: 

Boxed beef cutout values steady on light to moderate demand and offerings. Select and Choice rib, round, and loin cuts steady to weak while chuck cuts firm. Beef trimmings unevenly steady on moderate demand and offerings.
Cutout Values...              Choice       Select
Current Cutout Values:  204.65      197.95
Change from prior day:    -0.17        -0.08
Choice/Select spread:        6.70


Futures Summary: 


CME Feeder Cattle Index: 148.27… -0.22
August Live Cattle Futures: 108.05… -0.67
October Live Cattle Futures: 110.32… -0.28
December Live Cattle Futures: 114.62… -0.28
August Feeder Cattle Futures: 152.75… -0.50
September Feeder Cattle Futures: 153.52… -0.80
November Feeder Cattle Futures: 154.55… -0.60
August Hog Futures: 65.55… -0.87
Nearby Crude Oil Futures Contract: 68.52… +0.63


National Grain Market Summary:

Compared to yesterday, cash bids for wheat, corn, and sorghum were mostly lower, while soybeans were higher.  So far, 2018 has the third best good-to-excellent corn rating of the past five years, which suggests a high national yield again this fall.  Corn exports have been at a decent pace lately, but are still 3% below a year ago with roughly seven weeks left in the marketing year2017-18. In wheat, world ending supplies of exportable wheat are expected to be down in 2018-19, but so far, the U.S. and Europe have enough to keep customers comfortable.
September Corn Futures: 3.5200… -0.0525
August Soybean Futures: 8.5800… +0.1025
September Wheat Futures: 5.1025… -0.0350
Kansas City Corn: 3.55… -0.05
Kansas City Soybeans: 8.55… +0.09
Kansas City Wheat: 5.40… -0.01


Financial Markets: 

Dow Jones Industrial Average: 25,240.45… +196.16
S & P 500: 2,820.25… +13.27
NASDAQ: 7,840.77… -1.10
U.S. Dollar Index: 94.57… -0.06