Texas Daily Ag Market News Summary

Posted 2 years 285 days ago ago by Administrator Account

Daily Market Summary for July 26th  

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Slaughter Cattle:

So far for Thursday in the Southern Plains and Nebraska trading has been at a standstill. 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: 687    Week Ago: 77    Year Ago: 11,385


Formula Net - Dressed Steers & Heifers

Head count priced today: 21,500
Weighted avg weight:        865.00
Weighted avg net price:     179.13


Alberta Beef Producers Daily Report:

Alberta direct cattle sales Wednesday saw no new trade to report. Dressed bids have been reported from 250.00-252.00 delivered. Bids are 5.00 lower than the previous week. Live bids have been reported in the low 150's and are sitting a couple dollars lower than last week's weighted average.


Livestock Slaughter under Federal Inspection:                                  

                                 CATTLE    CALVES    HOGS        SHEET
Thursday (est          121,000    2,000      367,000      7,000
Week ago (est)        121,000    2,000      447,000      7,000
Year ago (act)          118,000    2,000      442,000      7,000
Week to date (est) 471,000    8,000   1,626,000    29,000
Last Week (est)       476,000    8,000   1,800,000    30,000
Last Year (act)          464,000    7,000   1,744,000    30,000


Boxed Beef: 

Boxed beef cutout values firm on moderate to fairly good demand and light offerings.  Select and Choice rib, chuck, and round cuts steady to firm. Choice loin cuts weak while Select firm. Beef trimmings steady on light to moderate demand and offerings.
Cutout Values...              Choice       Select
Current Cutout Values:  204.691     198.27
Change from prior day:      +0.27        +0.69
Choice/Select spread:           6.64


Futures Summary: 


CME Feeder Cattle Index: 149.21… +1.04
August Live Cattle Futures: 107.95… -1.07
October Live Cattle Futures: 109.37… -1.40
December Live Cattle Futures: 113.65… -1.15
August Feeder Cattle Futures: 151.42… -1.40
September Feeder Cattle Futures: 151.82… -1.43
November Feeder Cattle Futures: 152.87… -1.58
August Hog Futures: 64.90… -1.50
Nearby Crude Oil Futures Contract: 69.61… +0.31


National Grain Market Summary:

Compared to yesterday, cash bids for wheat, corn, and soybeans were mixed, while sorghum was higher.  USDA said last week's export sales and shipments of corn for 2017-18 totaled 13.3 million bushels (mb) and 50.5 mb respectively, a bearish combination for the week that is aiming 200 mb below USDA's export estimate of 2.4 billion bushels (bb).  Last week's export sales and shipments of soybeans totaled 19.8 mb and 30.3 mb respectively, a neutral amount for the week.  Last week's export sales and shipments of wheat totaled 14.2 mb and 15.0 mb respectively.  The sales showed modest improvement from the previous week, but both numbers are well below USDA's anticipated pace for 2018-19.
September Corn Futures: 3.6150… +0.0225
August Soybean Futures: 8.6125… +0.0050
September Wheat Futures: 5.3650… -0.0625
Kansas City Corn: 3.64… +0.02
Kansas City Soybeans: 8.59… +0.01
Kansas City Wheat: 5.64… 0.07


Financial Markets: 

Dow Jones Industrial Average: 25,527.68… +113.58
S & P 500: 2,837.44… -8.62
NASDAQ: 7,852.18… -80.06
U.S. Dollar Index: 94.75… +0.53