Apr 17 2019

Texas Daily Ag Market News Summary Posted 5 years 3 days ago by Administrator Account

Daily Market Summary for April 17th  

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:  

As of 3:00 PM Wednesday, negotiated cash trade has been moderate on good demand in the Southern Plains. Live purchases traded 2.00 higher at 126.00. Trading in the Northern Plains and Western Cornbelt has been light on light demand. Early live purchases in Nebraska traded from 127.00- 127.25. Not enough trade for an adequate market trend. Last week in the Southern Plains, live purchases traded at 124.00. In Nebraska last week, live purchases traded from 126.000-128.00, with dressed trades at 205.00. In Colorado last week, live purchases sold from 127.00-127.50. In the Western Cornbelt last week, live purchases traded from 127.00-130.00, with dressed trades from204.00-206.

  

Negotiated Sales:

Confirmed: 29,907 --- Week Ago: 16,756 --- Year Ago: 7,832

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 15,300

Weighted avg weight:             831

Weighted avg net price:    200.71

   

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 are unchanged from the beginning of the week. Canfax released its April 1st cattle on feed report last Friday. Placements for the month of March were down over 10% compared to last year while fed cattle marketings were up 6% compared to last year. April 1st cattle on feed inventories are larger than last year and the five-year average.

 

Livestock Slaughter under Federal Inspection:                                  

                                  Cattle       Calves     Hogs         Sheep

Wednesday (est      121,000    2,000      477,000      8,000

Week ago (est)        120,000    2,000      476,000      8,000

Year ago (act)          120,000    2,000      460,000      7,000

Week to date (est) 363,000    6,000   1,381,000    27,000

Last Week (est)       360,000    6,000   1,426,000    27,000

Last Year (act)         356,000    6,000   1,384,000    23,000

Previous Day (Estimated)  Steers & Heifers     Cows & Bulls

                             Tuesday        95,000                    26,000

 

Boxed Beef: 

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     232.76    220.16

Change from prior day:       +0.71       -0.99

Choice/Select spread:            12.60

Total Load Count (Cuts, Trimmings, Grinds): 184

 

Cutter Cow Cutout: 169.34… +0.01

  

CME Feeder Cattle Index: 143.58… +0.12

 

Futures

Live Cattle:

April: 126.92… -0.23

June: 122.37… -0.08

August: 119.55… +0.23

Feeder Cattle:

April: 145.32… -0.35

May: 150.60… -0.60

August: 160.45… +0.25

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May Hogs: 88.92… -0.05

April Crude Oil: 63.76… -0.29

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May Corn: 3.5825… -0.0075

May Soybeans: 8.7900… -0.0900

May Wheat: 4.4700… +0.0200

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Grain Cash Bids:

Kansas City Corn: 3.63… +0.01

Kansas City Soybeans: 8.37… -0.09

Kansas City Wheat: 4.25… +0.02

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Financial Markets:

Dow Jones Industrial Average: 26,452.66

S & P 500: 2,907.06

NASDAQ: 8,000.23

U.S. Dollar Index: 97.08

Cotton (www.ams.usda.gov): 

May Cotton Futures: 78.11 … +0.17

Milk (www.cmegroup.com): 

April Class III Milk Futures: 15.92… -0.03