Jun 28 2019

Texas Daily Ag Market News Summary Posted 4 years 302 days ago by Administrator Account

Daily Market Summary for June 28^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, trade is light on moderate demand in the Southern Plains. Early live purchases it the Southern Plains have traded at 109.00, however not enough for an adequate market test. Trade was light to moderate on moderate demand in Nebraska and the Western Cornbelt. Early live purchases in Nebraska ranged from 109.00-111.50, however not enough for an adequate market test. Dressed purchases compared to Tuesday, traded steady to 2.00 lower. Early live purchases in the Western Cornbelt ranged from 109.00-112.00, however not enough for an adequate market test. Dressed purchases compared to Tuesday, traded steady to 2.00 lower. The latest fully 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. For the previous week in the Western Cornbelt live purchases traded from 110.00-115.00.

Negotiated Sales:

 

Confirmed: 28,547 --- Week Ago: 6,080 --- Year Ago: 34,021

 

Formula Net - Dressed Steers & Heifers

 

Head count priced today: 16,800

 

Weighted avg weight:             849

 

Weighted avg net price:    177.17

 

 

Alberta Beef Producers Daily Report: Alberta CA

 

Alberta direct cattle sales Thursday saw light trade develop with dressed sales marked at 238.00 delivered. Sales are 7.00 lower than the previous week. Competition on the cash market was limited with two out of the three western Canadian packers buying cattle. Cash to futures basis levels did weaken but remain right in line with the five-year average. One positive this week is that lift times have started to tighten. Some cattle that traded this week would be lifted in 2-3 weeks.

 

 

Livestock Slaughter under Federal Inspection:                                 

 

                                   Cattle        Calves    Hogs          Sheep

 

Friday (est               120,000     2,000       452,000          5,000

 

Week ago (est)       118,000     2,000       462,000          7,000

 

Year ago (act)         120,000      3,000      430,000          5,000

 

Week to date (est)  605,000   10,000   2,327,000        35,000

 

Last Week (est)       600,000   10,000   2,363,000        40,000

 

Last Year (act)         590,000   12,000   2,217,000        36,000

 

Saturday (est             60,000        0               57,000         2,000

 

Week ago (est)          62,000        0                86,000         0

 

Year ago (act)            58,000        0               21,000         0

 

Week to date (est) 665,000    10,000    2,384,000       37,000

 

Last Week (est)       662,000    10,000    2,449,000       40,000

 

Last Year* (act)       649,000    11,000    2,238,000       36,000

 

2019 YTD            16,255,000  275,000  62,461,000 1,023,000

 

2018 *YTD          16,063,000  264,000  60,546,000    993,000

 

Percent change       +1.2%       +4.0%     +3.2%        +3.1%

 

Previous Day Estimated       Steers & Heifers     Cows & Bulls

 

                         Thursday              97,000                    25,000

Boxed Beef: 

 

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

 

Cutout Values...                 Choice     Select

 

Current Cutout Values:     219.66    195.56

 

Change from prior day:       +0.63       -1.34

 

Choice/Select spread:          24.10

 

Total Load Count (Cuts, Trimmings, Grinds): 126

 

Cutter Cow Cutout: 174.58… -0.69

 

CME Feeder Cattle Index: 132.61… +0.74

 

Futures…

Live Cattle:

June: 110.50… -0.07

August: 104.35… -1.00

October: 105.42… -0.90

 

Feeder Cattle:

August: 135.85… +0.05

September: 136.70… +0.60

October: 136.70… +0.45

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July Hogs: 72.10… -1.72

August Crude Oil: 58.47… -0.96

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July Corn: 4.2025… -0.1975

July Soybeans: 8.9975… +0.1200

July Wheat: 5.2800… -0.1950

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Grain Cash Bids:

Kansas City Corn: 4.25… -0.20

Kansas City Soybeans: 8.50… +0.09

Kansas City Wheat: 5.23… -0.20

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Financial Markets:

Dow Jones Industrial Average: 26,599.96… +73.38

S & P 500: 2,941.76… +16.84

NASDAQ: 8,006.24… +38.48

U.S. Dollar Index: 96.18… -0.01