Jun 27 2019

Texas Daily Ag Market News Summary Posted 4 years 298 days ago by Administrator Account

Daily Market Summary for June 27^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 Thursday, negotiated cast trade was mostly inactive on light demand in all 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: 1,223 --- Week Ago: 42,996 --- Year Ago: 13,044

  

Formula Net - Dressed Steers & Heifers

Head count priced today: 23,900

Weighted avg weight:             831

Weighted avg net price:    179.37

   

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales Wednesday saw no new trade to report. Dressed bids were all over the map yesterday ranging from 225.00-244.00 delivered. Bids are anywhere from 2.00-20.00 lower than last week. Weaker bids are likely related to the temporary stoppage of Canadian meat products into China. This week's decline does seem rather drastic given China accounts for roughly 5% of total Canadian beef exports. Many producers have passed bids and are not interested in trading cattle.

 

Livestock Slaughter under Federal Inspection:                                  

                                   Cattle        Calves    Hogs          Sheep

Thursday (est           122,000    2,000      479,000      8,000

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

Year ago (act)          120,000    2,000      452,000      7,000

Week to date (est)   485,000    8,000   1,875,000    30,000

Last Week (est)       482,000    8,000   1,901,000    33,000

Last Year (act)         470,000    9,000   1,787,000    30,000

Previous Day Estimated       Steers & Heifers     Cows & Bulls

                    Wednesday             96,000                     25,000

    

Boxed Beef: 

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     219.03    196.90

Change from prior day:        -0.67       -1.66

Choice/Select spread:          22.13

Total Load Count (Cuts, Trimmings, Grinds): 133

 

Cutter Cow Cutout: 175.27… +0.66

  

CME Feeder Cattle Index: 131.87... +0.36

 

Futures…

Live Cattle:

June: 110.57… +1.57

August: 105.35… -0.02

October: 106.32… -0.23

Feeder Cattle:

August: 135.80… -0.02

September: 136.10… -0.25

October: 136.25… -0.47

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July Hogs: 73.82… +0.27

August Crude Oil: 59.43… +0.05

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July Corn: 4.4000… -0.0325

July Soybeans: 8.8775… -0.0650

July Wheat: 5.4750… +0.0375

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Grain Cash Bids:

Kansas City Corn: 4.45… -0.03

Kansas City Soybeans: 8.41… -0.02

Kansas City Wheat: 5.43… +0.04

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Financial Markets:

Dow Jones Industrial Average: 26,526.17… -10.65

S & P 500: 2,924.84… +11.06

NASDAQ: 7,967.76… +57.79

U.S. Dollar Index: 96.21… Unchanged