Jun 03 2019

Texas Daily Ag Market News Summary Posted 4 years 326 days ago by Administrator Account

Daily Market Summary for June 3^rd

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 Monday, negotiated cash trading has been limited on very light demand. Not enough trade in any region for an adequate market trend. The last established market in all major feeding regions was last week. In the Southern Plains last week, live purchases traded at 115.00. In Nebraska last week, live purchases traded at 116.00 and dressed purchases from 186.00-188.00; with the bulk at 186.00. Last week in the Western Cornbelt, live trades moved from 115.00-118.00, with the bulk from 116.00-117.00. Dressed purchases traded from 185.00-187.00.

 

Negotiated Sales:

Confirmed: 2,615 --- Week Ago: none --- Year Ago: 76

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 34,500

Weighted avg weight:            825

Weighted avg net price:   183.98

  

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales last week saw light trade develop with weighted average steer and heifer prices closing the week at 145.75 and 144.75 respectively. Prices are 1.00-2.00 lower than the previous week. Fed prices did establish new annual lows last week. Packers seem to be well supplied with cattle and are comfortably bought out in front. From a leverage perspective packers clearly have the upper hand on the cattle feeder reflective in softer prices and weaker basis levels. Looking at the non-fed market butcher cows traded fully steady through commercial auction facilities last week.

 

Livestock Slaughter under Federal Inspection:                                 

                                   Cattle        Calves    Hogs          Sheep

Monday (est            121,000    2,000     476,000     9,000

Week ago (est)           3,000        0             2,000         0

Year ago (act)         118,000    2,000     441,000     8,000

Previous day estimated       Steers & Heifers   Cows & Bulls

                              Friday             96,000                  25,000

                         Saturday             80,000                  13,000

 

Boxed Beef:

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     223.20    206.87

Change from prior day:        -0.01       -0.82

Choice/Select spread:          16.33

Total Load Count (Cuts, Trimmings, Grinds): 112

 

Cutter Cow Cutout: 174.30… +0.76

 

CME Feeder Cattle Index: 133.05… +0.38

 

Futures…

Live Cattle:

June: 106.77… -1.70

August: 102.80… -0.27

October: 103.52… -0.38

Feeder Cattle:

August: 133.50… +0.38

September: 134.12… +0.05

October: 134.52… Unchanged

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June Hogs: 81.57… -0.15

July Crude Oil: 53.25… -0.25

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July Corn: 4.2425… -0.0275

July Soybeans: 8.7900… +0.0125

July Wheat: 5.1975… +0.1675

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Cotton (www.ams.usda.gov)

July Cotton: 69.42… +1.34

Milk (www.cmegroup.com)

May Class III Milk: 16.37… -0.01

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Grain Cash Bids:

Kansas City Corn: 4.19… -0.03

Kansas City Soybeans: 8.34… +0.01

Kansas City Wheat: 5.01… +0.17

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Financial Markets:

Dow Jones Industrial Average: 24,819.78… +4.74

S & P 500: 2,744.31… -7.75

NASDAQ: 7,3330.02… -120.13

U.S. Dollar Index: 97.20… -0.55