May 30 2018

Texas Daily Ag Market News Summary Posted 5 years 322 days ago by Administrator Account

Daily Market Summary for May 30th

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:

Thus far for Wednesday, trade was mostly inactive on light demand in all feeding regions. Not enough purchases in any feeding region for and adequate market test. The latest established market in the Texas Panhandle was two weeks ago, with live purchases from 115.00-116.00. Last week in Kansas, live purchases traded at 110.00 on a light test. Live purchases in Nebraska ranged from

109.00-110.50 with a light test of dressed purchases from 176.00-180.00. In Colorado last week, live purchases traded at 110.00. In the Western Cornbelt last week, a light test of live and dressed purchases were reported ranging from 110.00-114.00 and from 180.00-182.00.

 

Negotiated Sales:

Confirmed: 1,633    Week Ago: 75    Year Ago: 1,322

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 22,700

Weighted avg weight:       840.00

Weighted avg net price:    187.66

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Tuesday saw no new trade to report and feedlot asking prices remain poorly defined. Packer bids should surface this afternoon and light to moderate trade could develop. Fed steer carcass weights firmed 8 lbs larger last week and may seasonally have tested bottom.

 

Livestock Slaughter under Federal Inspection:

                                  CATTLE     CALVES   HOGS        SHEEP

Wednesday (est      118,000    2,000      464,000      7,000

Week ago (est)        119,000    2,000      459,000      7,000

Year ago (act)          119,000    1,000      442,000      7,000

Week to date (est) 241,000    4,000      892,000    15,000

Last Week (est)       358,000    6,000   1,374,000    24,000

Last Year (act)         242,000    3,000      885,000    17,000

 

Boxed Beef: 

Boxed beef cutout values firm to higher on moderate to fairly good demand and moderate offerings. Select and Choice rib and round cuts steady to firm while loin cuts weak to lower. Select and Choice chuck cuts firm to higher.  Beef trimmings sharply lower on light demand and offerings.

 

Cutout Values...            Choice       Select

Current Cutout Values:  228.68       204.38

Change from prior day:    +1.12         +0.73

Choice/Select spread:       24.30

 

Futures Summary: 

 

CME Feeder Cattle Index: 134.86… (0.18)

June Live Cattle Futures: 106.12… +3.00

August Live Cattle Futures: 104.45… +3.00

October Live Cattle Futures: 107.75… +2.90

August Feeder Cattle Futures: 148.55… +3.58

September Feeder Cattle Futures: 148.07… +3.35

November Feeder Cattle Futures: 147.62… +3.25

June Hog Futures: 77.32… +1.65

 

National Grain Market Summary:

Compared to yesterday, cash bids for wheat, corn, and soybeans were lower.  Grains saw pressure today from favorable weather forecasts and early USDA crop conditions looking good.  USDA said as of Tuesday 92% of corn has been planted and 72% emerged, with soybeans plantings at 77% planted and 47% emerged.

 

July Corn Futures: 3.9350… (0.0650)

July Soybean Futures: 10.2300… (0.0750)

July Wheat Futures: 5.2200… (0.1450)

Kansas City Corn: 3.82… (0.06)

Kansas City Soybeans: 10.17… (0.04)

Kansas City Wheat: 5.34… (0.13)

 

Nearby Crude Oil Futures Contract: 68.21… +1.48

Dow Jones Industrial Average: 24,667.85… +306.40

NASDAQ: 7,462.45… +65.86

U.S. Dollar Index: 94.12… (0.70)