May 16 2019

Texas Daily Ag Market News Summary Posted 4 years 339 days ago by Administrator Account

---

Slaughter Cattle:
As of 3:00 PM Thursday in Nebraska negotiated cash trading and demand has been moderate. Compare to the prior week live cash trades moved 3.00 to 4.00 lower at 117.00. A few dressed cash trades moved from 185.00 to 185.00. However, not enough dressed trades for a full market trend. The last fully reported dressed trade market was last week with trades from 188.00 to 196.00. So far for Thursday in the Southern Plains and Western Cornbelt, negotiated cash trading has been limited on light demand. Not enough trades in these feeding regions for a full market trend. The last fully reported market in the Southern Plains was on Wednesday with live cash trades ranging from 115.00 to 117.00. In the Western Cornbelt the last fully reported market was for the previous week, with live and dressed cash trades moving from 119.00 to 122.50 and from 190.00 to 196.00, respectively.

Negotiated Sales:
Confirmed: 30,075 --- Week Ago: 5,552 --- Year Ago: 12,800

Formula Net - Dressed Steers & Heifers
Head count priced today: 16,800
Weighted avg weight: 823
Weighted avg net price: 193.81

Alberta Beef Producers Daily Report: Alberta CA
Alberta direct cattle sales Wednesday saw moderate trade develop with dressed sales ranging from 253.00-255.00 delivered. Sales are 5.00-10.00 lower than the previous week. Live sales have been reported in the low 150's and are 5.00 lower than last week's weighted average price. The way things are going fed prices are very close to establishing new annual lows.

Livestock Slaughter under Federal Inspection:
Cattle Calves Hogs Sheep
Thursday (est 121,000 2,000 464,000 8,000
Week ago (est) 119,000 2,000 478,000 6,000
Year ago (act) 122,000 1,000 447,000 9,000
Week to date (est) 484,000 8,000 1,845,000 34,000
Last Week (est) 481,000 8,000 1,893,000 30,000
Last Year (act) 479,000 7,000 1,820,000 36,000
Previous day estimated Steers & Heifers Cows & Bulls
Wednesday 95,000 26,000

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

Cutout Values... Choice Select
Current Cutout Values: 219.56 207.88
Change from prior day: -0.01 -0.16
Choice/Select spread: 11.68
Total Load Count (Cuts, Trimmings, Grinds): 145

Cutter Cow Cutout: 172.61… +1.03

CME Feeder Cattle Index: 132.43… -2.38

Futures…
Live Cattle:
June: 110.47… +0.80
August: 107.95… +0.98
October: 107.90… +1.15
Feeder Cattle:
August: 143.32… +1.05
September: 144.22… +1.00
October: 144.85… +0.95
---
June Hogs: 92.22… +0.40
June Crude Oil: 62.87… +0.85
---
July Corn: 3.7900… +0.0950
July Soybeans: 8.3975… +0.0425
July Wheat: 4.6700… +0.1825
---
Cotton (www.ams.usda.gov)
July Cotton: 66.80… +0.45
Milk (www.cmegroup.com)
May Class III Milk: 16.28… +0.01
---
Grain Cash Bids:
Kansas City Corn: 3.77… +0.09
Kansas City Soybeans: 7.92… +0.04
Kansas City Wheat: 4.47… +0.18
---
Financial Markets:
Dow Jones Industrial Average: 25,862.68… +214.66
S & P 500: 2,876.32… +25.34
NASDAQ: 7,898.05… +75.90
U.S. Dollar Index: 97.82… +0.25