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Jun
29
2018

Texas Daily Ag Market News Summary

Posted 5 years 273 days ago by Administrator Account

Daily Market Summary for June 29th

 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:

Friday trade has been moderate with good demand in the Texas Panhandle and Nebraska. The Texas Panhandle has saw live trades 2.00 lower from 107.00 to 108.00 when compared to last week. In Nebraska, compared to Wednesday live trades were mostly 1.50 higher at 107.50, with a few up to 108.00. In Kansas and the Western Cornbelt, trade has been limited on good demand. A few live sales in Kansas traded at 108.00; however, not enough trades in either feeding region for a full market trend. On Wednesday, live sales in Kansas were at 106.00. Thus far for the week in the Western Cornbelt, live trades have ranged from 105.00 to 109.00, with dressed trades from 168.00 to 172.00, mostly at 170.00.

 

Negotiated Sales:

Confirmed: 34,021    Week Ago: 29,323    Year Ago: 7,687

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 23,800
Weighted avg weight:       840.00
Weighted avg net price:    175.07

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Thursday saw light trade develop with dressed sales ranging from 247.00-248.00 delivered. Sales are 3.00-7.00 higher than the previous week. Most of the cattle that traded this week were being scheduled for the week of July 9th and July 16th delivery. Cash to futures basis levels did strengthen which did encourage producers to market cattle. 

 

Livestock Slaughter under Federal Inspection:

                                 CATTLE      CALVES     HOGS         SHEEP
Friday (est                119,000     2,000       435,000         5,000
Week ago (est)        119,000     2,000       424,000         7,000
Year ago (act)          119,000     3,000       419,000         6,000
Week to date (est)  589,000   10,000    2,219,000       37,000
Last Week (est)       597,000   10,000    2,168,000      39,000
Last Year (act)         586,000   10,000    2,177,000       35,000
 
Saturday (est            57,000        0               20,000        1,000
Week ago (est)         67,000        0                     0            1,000
Year ago (act)           52,000        0               23,000        1,000
Week to date (est) 646,000   10,000      2,239,000      38,000
Last Week (est)      664,000    10,000     2,168,000      40,000
Last Year* (act)      638,000      9,000     2,200,000      36,000
2018 YTD           16,065,000  264,000  60,551,000 1,000,000
2017 *YTD         15,596,000  246,000  58,970,000    962,000
Percent change         +3.0%     +7.2%        +2.7%          +3.9%

 

Boxed Beef: 

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

 

Cutout Values...              Choice       Select
Current Cutout Values:  211.96      198.57
Change from prior day:     -1.28         -2.09
Choice/Select spread:       13.39

 

Futures Summary: 

 

CME Feeder Cattle Index: 142.00… -0.55
August Live Cattle Futures: 106.72… +3.00
October Live Cattle Futures: 110.02… +3.00
December Live Cattle Futures: 113.70… +2.38
August Feeder Cattle Futures: 151.32… +4.50
September Feeder Cattle Futures: 150.95… +3.58
November Feeder Cattle Futures: 150.07… +2.80
July Hog Futures: 82.87… +1.75

 

National Grain Market Summary:

Compared to last week, cash bids for wheat, corn, soybeans, and sorghum were lower.  The biggest threat to crops in the Corn Belt currently is too much rain. While some of the Corn Belt is still dry, a large portion is dealing with flooded fields.  USDA said last week's export sales and shipments of corn totaled 33.5 and 58.3 million bushels respectively, a neutral showing that has total U.S. corn shipments down 6% in 2017-18 with just over two months left in the season. Thursday's export sales report was neutral for soybeans after USDA reported 13.2 million bushels of soybean sales and 18.4 million bushels of shipments for last week.
Total shipments are now down 7% in 2017-18 from a year ago and are within reach of USDA's export estimate.  Last week's export sales and shipments of wheat totaled 20.7 and 13.1 million bushels respectively, putting total wheat shipments down 50% from a year ago in its first month of 2018-19.  Wheat was 10 to 45 1/4 cents lower.  Corn was 4 3/4 to 12 cents lower.  Sorghum was 21 to 23 cents lower.  Soybeans were 12 ¼ to 19 1/4 cents lower.

 

July Corn Futures: 3.5025… +0.0525
July Soybean Futures: 8.5850… -0.0275
July Wheat Futures: 4.9750… +0.18
Kansas City Corn: 3.50… +0.05
Kansas City Soybeans: 8.56… -0.03
Kansas City Wheat: 5.16… -0.18
 
Nearby Crude Oil Futures Contract: 74.15… +0.70
Dow Jones Industrial Average: 24,271.82… +55.77
NASDAQ: 7,510.30… +6.62
U.S. Dollar Index: 94.58… -0.74





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