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Jun
12
2018

Texas Daily Ag Market News Summary

Posted 5 years 312 days ago by Administrator Account

Daily Market Summary for June 12th

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!

Slaughter Cattle:

So far for Tuesday in the Southern Plains and Nebraska trading has been at a standstill. In the Western Cornbelt trading has been very limited on very light demand. Not enough trades for a market trend. Last week in the Southern Plains and Western Cornbelt live cash trades were at 115.00 and dressed trades, in the Western Cornbelt, were from 182.00-183.00 with a few up to 184.00. For the prior week in Nebraska live cash trades were mostly from 114.00-115.00 and dressed trades were mostly from 183.00-184.00.

Negotiated Sales:

Confirmed: 268 Week Ago: 687 Year Ago: 3,744

Formula Net - Dressed Steers & Heifers

Head count priced today: 20,500

Weighted avg weight: 849.00

Weighted avg net price: 178.82

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Monday saw no new trade to report. This week's showlist has been compiled with volumes smaller than the previous week. For the week ending June 2nd western Canadian steer carcass weights rebounded 8lb to average 814lb. Steer carcass weights have likely bottomed for the year and should seasonally trend larger into the summer.

Livestock Slaughter under Federal Inspection:

CATTLE CALVES HOGS SHEEP

Tuesday (est 120,000 2,000 452,000 8,000

Week ago (est) 121,000 2,000 453,000 9,000

Year ago (act) 118,000 2,000 433,000 8,000

Week to date (est) 238,000 4,000 898,000 16,000

Last Week (est) 237,000 4,000 893,000 17,000

Last Year (act) 235,000 4,000 844,000 15,000

Boxed Beef:

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

Cutout Values... Choice Select

Current Cutout Values: 224.92 203.39

Change from prior day: -0.21 +0.59

Choice/Select spread: 21.53

Futures Summary:

CME Feeder Cattle Index: 140.94… +0.34

June Live Cattle Futures: 108.52… -0.13

August Live Cattle Futures: 104.30… +0.13

October Live Cattle Futures: 107.35… +0.35

August Feeder Cattle Futures: 145.80… -0.15

September Feeder Cattle Futures: 146.82… -0.43

November Feeder Cattle Futures: 146.95… -0.62

July Hog Futures: 81.45… +2.05

National Grain Market Summary:

Compared to yesterday, cash bids for wheat, corn, and soybeans were higher. Corn and soybean futures were likely boosted by lower-than-expected ending stock estimates from the USDA. Wheat futures soared likely due to a reduction in Russia’s wheat crop estimate.