Jun 19 2019

Texas Daily Ag Market News Summary Posted 4 years 305 days ago by Administrator Account

Daily Market Summary for June 19^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 Wednesday, negotiated cash trade has been mostly inactive on light demand in the Southern Plains and Nebraska. Trade and demand has been light in Western Cornbelt with a few early purchases ranging from 112.00-115.00 and 180.00-184.00, however not enough for an adequate market test. The latest established market in any feeding region was last week and with a light test noted in the Southern Plains and Nebraska. In the Texas Panhandle last week live purchases traded at 112.00.  Last week, in Kansas live purchases traded at 110.00. In Nebraska live purchases traded at 113.00 with dressed purchases from 184.00-186.00. For the previous week, in the Western Cornbelt live purchases traded from 114.00-116.00 and with dressed purchases from 184.00-186.00.

   

Negotiated Sales:

Confirmed: 5,542 --- Week Ago: 3,953 --- Year Ago: 1,915

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 21,800

Weighted avg weight:             823

Weighted avg net price:    183.07

  

Alberta Beef Producers Daily Report: Alberta CA

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. Canfax released its June 1st cattle on feed report last week. Placements for the month of May were down over 10% compared to last year while fed cattle marketing were up 5%. June 1st cattle on feed inventories are larger than last year and the five-year average.

 

Livestock Slaughter under Federal Inspection:                                 

                                   Cattle        Calves    Hogs          Sheep

Wednesday (est     121,000    2,000      479,000      8,000

Week ago (est)       121,000    2,000      478,000      8,000

Year ago (act)         118,000    2,000      437,000      7,000

Week to date (est)  361,000    6,000   1,423,000    25,000

Last Week (est)       364,000    6,000   1,421,000    24,000

Last Year (act)         352,000    5,000   1,297,000    22,000

Previous Day Estimated       Steers & Heifers     Cows & Bulls

                        Tuesday               95,000                   25,000

 

Boxed Beef:

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     221.59    202.24

Change from prior day:      +1.06      +0.44

Choice/Select spread:        19.35

Total Load Count (Cuts, Trimmings, Grinds): 184

 

Cutter Cow Cutout: 173.96… -1.46

 

CME Feeder Cattle Index: 133.02… -0.19

 

Futures…

Live Cattle:

June: 108.50… -0.95

August: 104.55… -1.00

October: 106.10… -0.95

Feeder Cattle:

August: 136.52… -0.73

September: 137.00… -0.60

October: 137.42… -0.28

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July Hogs: 81.62… +0.15

July Crude Oil: 53.76… -0.14

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July Corn: 4.4100… -0.0875

July Soybeans: 9.0325… -0.1025

July Wheat: 5.2225… -0.0925

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Cotton (www.ams.usda.gov)

July Cotton: 65.38… +0.06

Milk (www.cmegroup.com)

June Class III Milk: 16.28… +0.00

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Grain Cash Bids:

Kansas City Corn: 4.40… -0.07

Kansas City Soybeans: 8.52… -0.12

Kansas City Wheat: 5.15… -0.08

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Financial Markets:

Dow Jones Industrial Average: 26,504.13… +38.59

S & P 500: 2,926.45… +8.70

NASDAQ: 7,987.32… +33.44

U.S. Dollar Index: 97.26… -0.38