Jun 07 2019

Texas Daily Ag Market News Summary Posted 4 years 322 days ago by Administrator Account

Daily Market Summary for June 7^th

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!

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Slaughter Cattle: 

As of 3:00 PM Friday, negotiated cash trade and demand was light to moderate in Nebraska with a few live and dressed purchases at 115.00 and 185.00 respectively. The last established market in Nebraska was on Thursday with live trades at 114.00 and dressed trades at 183.00 to 184.00. Trading in all other regions was limited on light demand. Not enough trade for an adequate market trend. The last established market in the Texas Panhandle was on Monday with live purchases at 113.00. The last fully established market in Kansas on Tuesday, live purchases traded from 112.00-113.00. The last established market in the Western Cornbelt was on Thursday with live purchases trading from 114.00-115.50 and dressed purchases from 183.00-184.00.

   

Negotiated Sales:

Confirmed: 9,262 --- Week Ago: 12,437 --- Year Ago: 16,895

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 17,600

Weighted avg weight:             809

Weighted avg net price:    186.32

  

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales Thursday saw light trade develop with dressed sales reported at 245.00 delivered. Sales are steady to a couple dollars lower than prices seen on Wednesday and are steady to 1.00 lower than last week. This week dressed sales have been reported from 243.00-245.00 delivered. Competition in the cash market has been limited but all three western Canadian packers did buy cattle. Alberta/Nebraska cash to cash basis levels did strengthen. It is estimated Alberta fed prices are at 6.00 discount market compared to 10.00 discount last week.

 

Livestock Slaughter under Federal Inspection:                                 

                                  Cattle        Calves    Hogs          Sheep

Friday (est                119,000    2,000      473,000      8,000

Week ago (est)        121,000    2,000      471,000       7,000

Year ago (act)         119,000     3,000     418,000       7,000

Week to date (est)  600,000   10,000   2,366,000    42,000

Last Week (est)       489,000    8,000   1,879,000    33,000

Last Year (act)         598,000   10,000   2,204,000    40,000

Saturday (est            62,000        0               51,000         0

Week ago (est)        93,000        0               249,000      1,000

Year ago (act)          62,000        0                 62,000      1,000

Week to date (est)  662,000    10,000     2,417,000     42,000

Last Week (est)       582,000      8,000     2,128,000     34,000

Last Year* (act)       661,000    10,000     2,268,000     40,000

2019 YTD             14,250,000  242,000  55,193,000   908,000

2018 *YTD           14,107,000  233,000  53,932,000   881,000

Percent change         +1.0%     +3.9%       +2.3%       +3.1%

Previous day estimated       Steers & Heifers   Cows & Bulls

                         Thursday              96,000               25,000

 

Boxed Beef:

Boxed beef cutout values steady on moderate demand and light offerings. Select and Choice rib, chuck, and round cuts steady to firm while loin cuts steady to weak. Beef trimmings sharply lower on light demand and moderate offerings.

 

Cutout Values...                 Choice     Select

Current Cutout Values:     222.31    206.92

Change from prior day:        +0.06      -0.24

Choice/Select spread:          15.39

Total Load Count (Cuts, Trimmings, Grinds): 79

 

Cutter Cow Cutout: 174.48… +0.27

 

CME Feeder Cattle Index: 131.84... +0.11

 

Futures…

Live Cattle:

June: 106.92… -0.68

August: 103.30… -1.50

October: 104.50… -1.25

Feeder Cattle:

August: 137.25… -2.02

September: 137.35… -2.25

October: 137.37… -2.38

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July Hogs: 83.35… -3.00

July Crude Oil: 53.99… +1.40

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July Corn: 4.1575… -0.5000

July Soybeans: 8.5625… -0.1250

July Wheat: 5.0450… -0.0550

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Cotton (www.ams.usda.gov)

July Cotton: 65.59… -3.00

Milk (www.cmegroup.com)

June Class III Milk: 16.26… +0.04

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Weekly National Grain Market Review

Compared to last week, cash bids for wheat and soybeans were mixed; corn and sorghum were lower.  Ethanol production for week ending May 31st totaled 1.044 million barrels per day, a 13,000 barrel decrease when compared to the week prior. Ethanol stocks were at 22.5 mb this week, a decrease of 0.078 mb. Monday's planting progress report for w/e 6/2/2019 revealed that planting pace for corn is now 67 percent planted.  Soybean acres planted are now at 39 percent complete. Wheat was 13 3/4 cents lower to 36 1/82 cents higher.  Corn was 3/4 cents to 18 ¾ cents lower.  Sorghum was 27 cents to 28 cents lower.  Soybeans were 35 1/4 cents lower to 1 3/4 cents higher.

CORN:  Kansas City US No 2 rail White Corn was 6 1/2 to 15 1/4 cents lower from4.18-4.32 1/2 per bushel.  Kansas City US No 2 truck Yellow Corn was 15 3/4 cents lower from 4.10 1/2-4.20 1/2 per bushel.  Omaha US No 2 Yellow Corn was 11 to 12 cents lower from 4.06-4.08 per bushel.  Chicago US No 2 Yellow Corn was 14 3/4 to 18 3/4 cents lower from 4.18 1/2-4.19 1/2 per bushel.  Toledo US No 2 rail Yellow corn was 3/4 to 2 3/4 cent lower from 4.25 1/2-4.30 1/2 per bushel.  Minneapolis US No 2 Yellow corn rail was not quoted.

WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 13 ¾ cents lower from 5.80 1/4-5.90 1/4 per bushel.  Kansas City US No 2 Soft Red winter rail bid was not quoted.  St. Louis truck US No 2 Soft Red Winter terminal bid was 9 cents lower from 5.38-5.43 per bushel.  Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, was 16 1/2 to 36 1/2 cents higher from 6.65-6.85 per bushel.  Portland US Soft White wheat rail was steady to 2 cents higher from 5.75-6.07 per bushel.

 

Grain Cash Bids:

Kansas City Corn: 4.13… -0.03

Kansas City Soybeans: 8.11… -0.13

Kansas City Wheat: 4.96… +0.05

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Financial Markets:

Dow Jones Industrial Average: 25,984.14… +263.48

S & P 500: 2,873.30… +29.81

NASDAQ: 7,742.10… +126.55

U.S. Dollar Index: 96.59… -0.45