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Jun
22
2018

Texas Daily Ag Market News Summary

Posted 5 years 307 days ago by Administrator Account

Daily Market Summary for June 22nd

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:

Thus far for Friday in the Texas Panhandle trading and demand has been moderate. Compared to last week live cash trades moved 3.00 lower from 109.00 to 110.0. So far for Friday in Kansas, Nebraska and the Western Cornbelt trading has been slow on light to moderate demand. However, not enough trades in any of these feeding regions for a full market trend. Last week in Kansas live cash trades were from 112.00-113.00 with a light test noted. In Nebraska for the prior week live cash trades were mostly at 110.00 and dressed trades were from 176.00-181.00 with a light test noted. For previous week in the Western Cornbelt live cash trades were from 110.00-112.00 and dressed trades were from 176.00-181.00.

Negotiated Sales:

Confirmed: 29,323 Week Ago: 3,479 Year Ago: 1,858

Formula Net - Dressed Steers & Heifers

Head count priced today: 18,000

Weighted avg weight: 838.00

Weighted avg net price: 180.39

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Thursday saw light trade develop with bids strengthening from Wednesday to Thursday. Dressed sales on Thursday ranged from 243.00-245.00 delivered. Sales are 5.00 higher than the previous week. Even though basis levels did weaken, stronger prices week over week did encourage producers to market cattle. Cattle that had been carried over for the past couple of weeks were sold this week. Buyers were indicating cattle that they bought this week were being scheduled for the first half of July delivery.

Livestock Slaughter under Federal Inspection:

CATTLE CALVES HOGS SHEEP

Friday (est 119,000 2,000 424,000 7,000

Week ago (est) 118,000 2,000 412,000 7,000

Year ago (act) 120,000 2,000 419,000 7,000

Week to date (est) 597,000 10,000 2,168,000 39,000

Last Week (est) 586,000 10,000 2,194,000 39,000

Last Year (act) 588,000 9,000 2,154,000 40,000

Saturday (est 67,000 0 0 1,000

Week ago (est) 68,000 0 21,000 1,000

Year ago (act) 51,000 0 0 1,000

Week to date (est) 664,000 10,000 2,168,000 40,000

Last Week (est) 654,000 10,000 2,215,000 40,000

Last Year* (act) 639,000 9,000 2,155,000 40,000

2018 YTD 15,425,00 253,000 58,315,000 961,000

2017 *YTD 14,958,00 237,000 56,770,000 927,000

Percent change 3.1% 6.8% 2.7% 3.7%

Boxed Beef:

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

Cutout Values... Choice Select

Current Cutout Values: 217.16 202.02

Change from prior day: -0.25 +0.41

Choice/Select spread: 15.14

Futures Summary:

CME Feeder Cattle Index: 142.57… +0.36

June Live Cattle Futures: 108.24… -0.41

August Live Cattle Futures: 105.90… -0.22

October Live Cattle Futures: 109.40… +0.40

August Feeder Cattle Futures: 149.20… +0.73

September Feeder Cattle Futures: 149.82… +0.57

November Feeder Cattle Futures: 149.47… +0.45

July Hog Futures: 79.82… -0.65

National Grain Market Summary:

Compared to last week, cash bids for wheat and corn were mixed, while sorghum and soybeans were lower. The Brazilian transit strike is still a major factor in the global market. Congestion at the ports has delayed shipments of soybeans that could shift some of those to the U.S. as an origination point. USDA said last week's export sales and shipments of corn totaled 6.5 and 69.4 million bushels respectively, hitting extremes on either end that are neutral, overall. Last week's sales and shipments of soybeans totaled 11.1 and 36.4 million bushels, a neutral combination that put total shipments down 8% from a year ago. Wheat bookings came in at a respectable 17 million bu. China tariff talk has affected the grain and soybean markets, but is also affecting U.S. meat exports as well. Last week's beef and pork export sales were down 25% and 35% respectively. Concerns are continuing to build over the impact the tariff standoff will have on the U.S. ag economy. Wheat was mixed from 29 3/4 cents lower to 2 cents higher. Corn was from 15 3/4 cents lower to 7 cents higher. Sorghum was 9 to 11 cents lower. Soybeans were 42 3/4 to 46 ¾ cents lower.