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Jul
25
2018

Texas Daily Ag Market News Summary

Posted 2 years 286 days ago ago by Administrator Account

Daily Market Summary for July 25th   

 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:

Thus far for Wednesday trading has been at a standstill. 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: 93    Week Ago: 262    Year Ago: 30,028

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 16,100
Weighted avg weight:       845.00
Weighted avg net price:    179.26

 

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 eased since Monday. There are a few things that have to be considered bullish news for the western Canadian beef industry. Slaughter volumes have been large, beef exports have been very good and basis levels remain historically strong.

 

Livestock Slaughter under Federal Inspection:                                  

                                 CATTLE    CALVES    HOGS        SHEEP
Wednesday (est     119,000    2,000      381,000      7,000
Week ago (est)       119,000    2,000      461,000      7,000
Year ago (act)         117,000    2,000      444,000      7,000
Week to date (est) 350,000    6,000   1,259,000    22,000
Last Week (est)       355,000    6,000   1,353,000    23,000
Last Year (act)         346,000    5,000   1,302,000    23,000

 

Boxed Beef: 

Boxed beef cutout values steady to weak on light to moderate demand and heavy offerings. Select and Choice rib, chuck, round, and loin cuts steady to weak. Beef trimmings sharply higher on moderate to good demand and light offerings.
 
Cutout Values...              Choice       Select
Current Cutout Values:  204.64      197.58
Change from prior day:     -0.01         -0.37
Choice/Select spread:        7.06

 

Futures Summary: 

 

CME Feeder Cattle Index: 148.17… -0.10
August Live Cattle Futures: 109.02… +0.97
October Live Cattle Futures: 110.77… +0.45
December Live Cattle Futures: 114.80… +0.18
August Feeder Cattle Futures: 152.82… +0.07
September Feeder Cattle Futures: 153.25… -0.27
November Feeder Cattle Futures: 154.45… -0.10
 
August Hog Futures: 66.40… +0.85
Nearby Crude Oil Futures Contract: 69.30… +0.78

 

National Grain Market Summary:

Compared to last week, cash bids for corn, wheat, soybeans, and sorghum were higher. Wheat prices turned bullish today, supported by higher milling wheat in Europe.  This spilled over into the soy complex and corn markets as well.  Ethanol manufacturing for week ending July 20th totaled 1.074 million barrels per day, 10,000 higher that the previous week.
 
September Corn Futures: 3.5925… +0.0725
August Soybean Futures: 8.6075… +0.0275
September Wheat Futures: 5.4275… +0.3250
Kansas City Corn: 3.62… +0.07
Kansas City Soybeans: 8.63… +0.08
Kansas City Wheat: 5.71… +0.31

 

Financial Markets: 

Dow Jones Industrial Average: 25,414.58… +174.13
S & P 500: 2,846.06… +25.81
NASDAQ: 7,932.24… +91.47
U.S. Dollar Index: 94.17… -0.44