Apr 18 2018

Texas Daily Ag Market News Summary Posted 6 years 9 days ago by Administrator Account

Daily Market Summary for April 18th

The Daily Market News Report bought to you by The Cattle Range. Please visit http://cattlerange.com/ex-static.htm for more information!

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Slaughter Cattle:

Thus far for Wednesday in Nebraska trading has been limited on light demand. In the Western Cornbelt trading has been inactive on very light demand. In the Southern Plains and Colorado trading has been at a standstill. Not enough trades in any major feeding region for a market trend. Last week in the Texas Panhandle live cash trades were at 117.00. In Kansas live cash trades were from 118.00-120.00. For the prior week in Nebraska live cash trades were mostly 122.00 and dressed trades were at 190.00. In the Western Cornbelt live cash trades were from 119.00-123.00 and dressed trades were at 190.00. In Colorado the last fully reported market was two weeks ago with live cash trades at 119.50.

 

Negotiated Sales:

Confirmed: 7,832    Week Ago: 5,707    Year Ago: 24,094

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 16,100

Weighted avg weight:       860.00

Weighted avg net price:   190.74 

 

Alberta Beef Producers Daily Report:

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. Canfax released its April 1st cattle on feed report last Friday. March placement volumes were over 10% larger compared to last year while fed cattle marketings were steady with last year. Cattle on feed inventories as of April 1st are larger than last year and the five-year average.

 

Livestock Slaughter under Federal Inspection:

                               CATTLE    CALVES   HOGS       SHEEP

Wednesday (est     119,000    2,000      462,000     7,000

Week ago (est)      119,000    2,000      466,000     7,000

Year ago (act)       116,000    2,000      444,000      6,000

Week to date (est) 355,000    6,000   1,394,000    23,000

Last Week (est)     356,000    6,000   1,367,000    23,000

Last Year (act)       339,000    6,000   1,194,000    19,000

 

Boxed Beef:  

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

 

Cutout Values...            Choice       Select

Current Cutout Values:    211.64       198.57 

Change from prior day:      -0.49          -1.01   

Choice/Select spread:        13.07

 

Futures Summary:  

 

April Live Cattle Futures: 118.97... +0.92

June Live Cattle Futures: 105.27... +0.37

Aug Live Cattle Futures: 105.15... +0.70

April Feeder Cattle Futures: 138.75... +0.03

May Feeder Cattle Futures: 140.67... +0.42

August Feeder Cattle Futures: 146.05... +0.98

CME Feeder Cattle Index: 137.90... +0.15

May Hog Futures: 69.85... +1.95

 

National Grain Market Summary:

Compared to yesterday, cash bids for corn, soybeans and sorghum was higher, while wheat was mixed.  Ethanol production for week ending April 13th totaled 1.009 million barrels per day, 25,000 less than the week prior. Snow today in the Dakotas and parts of Iowa will limit the amount of corn planting in that area through this week.  Soybeans ended the day 4 ¼ cents lower, impacted by a $4.50 drop in bean oil market today.

Kansas City Corn: 3.70... +0.03

Kansas City Soybeans: 10.19... +0.01

Kansas City Wheat: 4.79... +0.09

May Corn Futures: 3.8300... +0.0275

May Soybean Futures: 10.4175... -0.0425

May Wheat Futures: 4.7525... +0.0900

 

Nearby Crude Oil Futures Contract: 68.47... +1.95

Dow Jones Industrial Average: 24,748.07... -38.56

NASDAQ: 7,295.24...+14.14

U.S. Dollar Index: 89.64... +0.16