Jun 26 2019

Texas Daily Ag Market News Summary Posted 4 years 300 days ago by Administrator Account

Daily Market Summary for June 26^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 cast trade was limited on light demand in Nebraska and the Western Cornbelt however not enough purchases for an adequate market test Trade was inactive on light demand in all other feeding regions. The latest established market in in the Texas Panhandle, was last week from 108.00-110.00. In Kansas last week, live purchases traded from 108.00-110.00, bulk at 110.00. Last week in Nebraska, live purchases traded from 109.00-110.00, bulk at 110.00 with a few early dressed purchases on Tuesday at 180.00. For the previous week in the Western Cornbelt live purchases traded from 110.00-115.00 with a few early dressed purchases on Tuesday at 180.00.

   

Negotiated Sales:

Confirmed: 1,755 --- Week Ago: 5,542 --- Year Ago: 23,111

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 21,800

Weighted avg weight:             833

Weighted avg net price:    179.73

  

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 improved from the beginning of the week. Packers remain comfortably bought out in front and it will be tough to get any leverage. Sellers are in ways torn, strong basis levels last week would suggest sell the cattle but negative feeding margins could have some producers fighting the market and adding weight to the cattle.

 

Livestock Slaughter under Federal Inspection:                                 

                                 Cattle        Calves    Hogs          Sheep

Wednesday (est)    121,000    2,000      478,000     7,000

Week ago (est)       121,000    2,000      479,000      8,000

Year ago (act)         120,000    2,000      454,000      7,000

Week to date (est)  363,000    6,000   1,401,000    22,000

Last Week (est)       361,000    6,000   1,423,000    25,000

Last Year (act)         350,000    7,000   1,335,000    23,000

Previous Day Estimated       Steers & Heifers     Cows & Bulls

                          Tuesday              96,000                     25,000

   

Boxed Beef:

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     219.70    198.56

Change from prior day:       +0.07       -0.39

Choice/Select spread:          21.14

Total Load Count (Cuts, Trimmings, Grinds): 156

 

Cutter Cow Cutout: 174.61… -0.09

 

CME Feeder Cattle Index: 131.53… +0.07

 

Futures…

Live Cattle:

June: 109.00… +1.25

August: 105.37… +2.12

October: 106.55… 1.70

Feeder Cattle:

August: 135.82… +4.50

September: 136.35… +4.48

October: 136.72… +4.42

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July Hogs: 73.55… -0.85

August Crude Oil: 59.38… +1.55

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July Corn: 4.4325… -0.0425

July Soybeans: 8.9425… -0.0925

July Wheat: 5.4375… +0.0800

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Grain Cash Bids:

Kansas City Corn: 4.48… -0.02

Kansas City Soybeans: 8.43… -0.09

Kansas City Wheat: 5.39… +0.08

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Financial Markets:

Dow Jones Industrial Average: 26,536.96… -11.26

S & P 500: 2,913.82… -3.56

NASDAQ: 7,909.97… +25.25

U.S. Dollar Index: 96.21… +0.07