Jun 04 2019

Texas Daily Ag Market News Summary Posted 4 years 320 days ago by Administrator Account

Daily Market Summary for June 4th

The Daily Market News Report brought to you by The Cattle Range. Please visit https://cattlerange.com/cattle-market-reports-analysis/daily-summary/ for more information!

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Slaughter Cattle: 

As of 3:00 PM Tuesday, negotiated cash trade in the Southern Plains was light on light demand. Trading in Nebraska and the Western Cornbelt was limited on light demand. Not enough trade in any region for an adequate market trend. The last established market in the Southern Plains was on Monday with live purchases trading at 113.00. In Nebraska last week, live purchases traded at 116.00 and dressed purchases from 186.00-188.00; with the bulk at 186.00. Last week in the Western Cornbelt, live trades moved from 115.00-118.00, with the bulk from 116.00-117.00. Dressed purchases traded from 185.00-187.00.

   

Negotiated Sales:

Confirmed: 10,298 --- Week Ago: 201 --- Year Ago: 687

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 23,800

Weighted avg weight:             840

Weighted avg net price:    183.94

 

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales Monday saw no new trade to report. This week's showlist has been compiled with volumes larger than the previous week. Last week on a cash to cash basis Alberta fed prices were at a 10 discount against the Nebraska market. Looking at the most recent weekly live cattle export data. Canadian fed cattle and cow export volumes to the US totaled just over 7500 head, volumes are 3% larger than the same week last year.

 

Livestock Slaughter under Federal Inspection:                                  

                                  Cattle        Calves    Hogs          Sheep

Tuesday (est            120,000    2,000     477,000      9,000

Week ago (est)        121,000    2,000     479,000      9,000

Year ago (act)          121,000    2,000     450,000      9,000

Week to date (est)  241,000    4,000     944,000    18,000

Last Week (est)        124,000    2,000     481,000      9,000

Last Year (act)          239,000    4,000     891,000    17,000

Previous day estimated       Steers & Heifers   Cows & Bulls

                          Monday              98,000                  23,000

Boxed Beef:

Boxed beef cutout values steady to firm on moderate to fairly good demand and moderate to heavy offerings. Select and Choice rib and loin cuts steady to firm while chuck and round cuts steady. Beef trimmings mostly moderately to sharply higher on good demand and moderate offerings.

 

Cutout Values...                 Choice     Select

Current Cutout Values:     223.00    207.21

Change from prior day:       -0.20      +0.34

Choice/Select spread:        15.79

Total Load Count (Cuts, Trimmings, Grinds): 140

Cutter Cow Cutout: 173.51… -0.79

CME Feeder Cattle Index: 131.95… -1.10

Futures…

Live Cattle:

June: 107.55… +0.78

August: 104.05… +1.25

October: 104.80… +1.28

Feeder Cattle:

August: 137.45… +3.95

September: 137.87… +3.75

October: 137.95… +3.43

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July Hogs: 85.80… +1.28

July Crude Oil: 53.48... +0.23

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July Corn: 4.2525… +0.0100

July Soybeans: 8.8175… +0.0275

July Wheat: 5.0725… -0.1250

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Grain Cash Bids:

Kansas City Corn: 4.20… +0.01

Kansas City Soybeans: 8.37… +0.03

Kansas City Wheat: 4.88… -0.13

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Financial Markets:

Dow Jones Industrial Average: 25,332.18… +512.40

S & P 500: 2,803.27… +58.96

NASDAQ: 7,527.12… +194.10

U.S. Dollar Index: 97.09… -0.05