Jul 24 2019

Texas Daily Ag Market News Summary Posted 4 years 270 days ago by Administrator Account

Daily Market Summary for July 24^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 was mostly inactive on light demand in all feeding regions. The last reported market in any feeding region was last week with live purchases in the Southern Plains at 111.00. In Nebraska live purchases traded from 113.00-113.50 with dressed purchases from 182.00-185.00. In the Western Cornbelt last week live purchases traded from 114.00-116.00 with dressed purchases from 182.00-185.00.

    

Negotiated Sales:

Confirmed: 113 --- Week Ago: 20,275 --- Year Ago: 93

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 20,700

Weighted avg weight:             830

Weighted avg net price:    184.20

   

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 since Monday. Packers are not long bought which should keep them on the cash market. By the sounds of things at least one packer operated last Saturday. To see prices rally into July is quite uncommon, this is more or less a short term bounce.

 

Livestock Slaughter under Federal Inspection:                                  

                                   Cattle       Calves    Hogs          Sheep

Wednesday (est     122,000    2,000      476,000      7,000

Week ago (est)       122,000    2,000      463,000      8,000

Year ago (act)         119,000    2,000       386,000      8,000

Week to date (est)  358,000    6,000   1,424,000    23,000

Last Week (est)       360,000    6,000   1,348,000    26,000

Last Year (act)         348,000    7,000   1,270,000    24,000

Previous Day Estimated   Steers & Heifers --- Cows & Bulls

                           Tuesday           97,000                    25,000                

 

                         

Boxed Beef: 

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     213.60     189.01

Change from prior day:       -0.18        -0.29

Choice/Select spread:         24.18

Total Load Count (Cuts, Trimmings, Grinds): 141

  

Cutter Cow Cutout: 174.01… -0.95

  

CME Feeder Cattle Index: 136.71… -0.23

 

Futures…

Live Cattle:

August: 108.90… -0.15

October: 109.90… +0.03

December: 114.30… +0.05

Feeder Cattle:

August: 142.82… +0.62

September: 142.87… +0.42

October: 143.02… +0.35

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August Hogs: 86.55… +0.38

August Crude Oil: 55.88… -0.89

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September Corn: 4.2400… -0.0150

August Soybeans: 8.9100… +0.0525

September Wheat: 4.9775… +0.1050

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Grain Cash Bids:

Kansas City Corn: 4.37… -0.01

Kansas City Soybeans: 8.51… +0.05

Kansas City Wheat: 4.93… +0.11

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Financial Markets:

Dow Jones Industrial Average: 27,269.97… -79.22

S & P 500: 3,019.56… +14.08

NASDAQ: 8,321.50… +70.10

U.S. Dollar Index: 97.74… +0.03