Jun 11 2019

Texas Daily Ag Market News Summary Posted 4 years 320 days ago by Administrator Account

Daily Market Summary for June 11^th

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 Tuesday, negotiated cash trading in the Southern Plains has been at a standstill. In Nebraska and the Western Cornbelt negotiated cash trading has been inactive on very light demand. Not enough trades for a market trend. Last week in the Texas Panhandle live cash trades moved at 113.00. In Kansas live cash trades moved from 112.00-113.00. For the prior week in Nebraska live cash trades moved from 114.00-115.00 and dressed cash trades from 183.00-185.00. For the previous week in the Western Cornbelt live cash trades moved from 114.00-115.50 and dressed cash trades from 182.00-186.00.

   

Negotiated Sales:

Confirmed: 135 --- Week Ago: 10,298 --- Year Ago: 268

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 26,400

Weighted avg weight:             825

Weighted avg net price:    185.75

  

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales Monday saw no new trade to report. This week's showlist has been compiled with volumes smaller than the previous week. Western Canadian fed slaughter volumes for the week ending June 1st totaled just over 41,000 head, this is the second largest weekly slaughter volume seen this year. Feedlot pen conditions are in excellent shape and cattle performance has been above average for this spring. With good cattle performance and packers taking a long time to lift cattle would suggest carcass weights should be nearing a low.

 

Livestock Slaughter under Federal Inspection:                                 

                                    Cattle        Calves    Hogs          Sheep

Tuesday (est            122,000    2,000     478,000      7,000

Week ago (est)        120,000    2,000     477,000      9,000

Year ago (act)          118,000    2,000     447,000      9,000

Week to date (est)   243,000    4,000     949,000    16,000

Last Week (est)       241,000    4,000     944,000    18,000

Last Year (act)         236,000    4,000     891,000    18,000

Previous day    Steers & Heifers   Cows & Bulls

       Monday          98,000                  23,000

 

Boxed Beef:

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     222.39    208.25

Change from prior day:       +0.73       -0.54

Choice/Select spread:          14.14

Total Load Count (Cuts, Trimmings, Grinds): 110

 

Cutter Cow Cutout: 174.55… +0.05

 

CME Feeder Cattle Index: 132.91... +0.65

 

Futures…

Live Cattle:

June: 110.67… +0.97

August: 106.82… +0.52

October: 107.85… +0.70

Feeder Cattle:

August: 138.12… -1.70

September: 138.60… -1.12

October: 138.97… -0.78

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July Hogs: 84.37… -1.83

July Crude Oil: 53.27… +0.01

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July Corn: 4.2775… +0.1200

July Soybeans: 8.5925… +0.0075

July Wheat: 5.1800… +0.1050

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Cotton (www.ams.usda.gov)

July Cotton: 65.6… -0.34

Milk (www.cmegroup.com)

June Class III Milk: 16.35… +0.05

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Grain Cash Bids:

Kansas City Corn: 4.25… +0.12

Kansas City Soybeans: 8.14… Unchanged

Kansas City Wheat: 5.09… +0.10

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Financial Markets:

Dow Jones Industrial Average: 26,048.58… -14.10

S & P 500: 2,885.72… -1.01

NASDAQ: 7,822.57… -0.60

U.S. Dollar Index: 96.71… -0.05