Daily Market Summary for August 14th...
Updated Monday thru Friday around 4:00 PM CT
10-Day & 60-Day Market Trendlines
Daily Market Summary for August 14th...
So far for Tuesday trading in the Southern Plains and Colorado has been at a standstill. In Nebraska trading has been limited on very light demand. A few early live cash trades moved at 109.50. In the Western Cornbelt trading has been inactive on very light demand. However, not enough trades for a full market trend. Last week in the Southern Plains and Colorado live cash trades moved at mostly 111.00. For the prior week in Nebraska live and dressed cash trades moved mostly from 110.00-111.50 and at 175.00, respectively. For the previous week in the Western Cornbelt live and dressed cash trades moved mostly at 110.00 and from 174.00-176.00, respectively.
Confirmed: 6,309 Week Ago: 1,498 Year Ago: 1,988
Formula Net - Dressed Steers & Heifers
Head count priced today: 31,800
Weighted avg weight: 861.00
Weighted avg net price: 180.70
Alberta Beef Producers Daily Report:
Alberta direct cattle sale Monday saw no new trade to report. This week's showlist has been compiled with volumes larger than the previous week. Last week on a cash to cash basis Alberta fed prices were at a 3.50 discount against the Nebraska market. Front end packer supplies are growing, some cattle that traded last week would not be lifted until early September. Some cattle have been carried over for the past few weeks and there could be some pressure to market cattle either this week or next week.
Livestock Slaughter under Federal Inspection:
CATTLE CALVES HOGS SHEEP
Tuesday (est 119,000 2,000 468,000 8,000
Week ago (est) 119,000 2,000 453,000 8,000
Year ago (act) 117,000 2,000 448,000 8,000
Week to date (est) 237,000 4,000 935,000 16,000
Last Week (est) 237,000 4,000 848,000 16,000
Last Year (act) 232,000 4,000 897,000 15,000
Boxed beef cutout values higher on moderate to good demand and light to moderate offerings. Select and Choice rib and loin cuts firm to higher while round cuts weak. Choice chuck cuts firm while Select steady. Beef trimmings sharply higher on good demand and light offerings.
Cutout Values... Choice Select
Current Cutout Values: 209.64 201.27
Change from prior day: +1.21 +1.61
Choice/Select spread: 8.37
Live cattle futures settled 7 to 77 cents higher on Tuesday. Feeder cattle futures were mixed with nearby Aug up 27 cents and back months as much as 57 cents lower. The CME feeder cattle index was down 48 cents from the previous day on 8/13, at $150.64. Wholesale boxed beef values were higher on Tuesday afternoon. Choice boxes were up $1.21 at $209.64, while Select boxes were $1.61 higher at $201.27. USDA FI cattle slaughter was estimated at 237,000 head through Tuesday. That is even with the previous week and 5,000 head above the same week in 2017.
CME Feeder Cattle Index: 150.64… -0.48
August Live Cattle Futures: 107.97… +0.77
October Live Cattle Futures: 108.72… +0.57
December Live Cattle Futures: 112.42… +0.42
August Feeder Cattle Futures: 148.92… +0.27
September Feeder Cattle Futures: 148.67… +0.22
November Feeder Cattle Futures: 148.90… -0.05
September Hog Futures: 51.85… +0.20
Nearby Crude Oil Futures Contract: 67.04… -0.16
National Grain Market Summary:
Compared to yesterday, cash bids for wheat, corn, soybeans, and sorghum were mostly higher. In spite of this year's record soybean crop estimate from USDA, U.S. new-crop soybean sales are already up 55% from a year ago. Wheat prices have been volatile and sensitive to weather changes, but USDA is expecting the world's lowest amount of exportable ending wheat stocks in 11 years. In spite of recent losses, the trends for all three U.S. wheats remain up.
September Corn Futures: 3.6225… +0.0575
August Soybean Futures: 8.6825… +0.1100
September Wheat Futures: 5.4175… +0.0825
Kansas City Corn: 3.56… +0.04
Kansas City Soybeans: 8.48… +0.11
Kansas City Wheat: 5.76… +0.05
Dow Jones Industrial Average: 25,300.15… +112.45
S & P 500: 2,840.00… +18.06
NASDAQ: 7,870.89… +51.18
U.S. Dollar Index: 96.70… +0.38
Monday Auction Reports...