Cooler, drier weather last week afforded producers the opportunity to make 2nd and 3rd cuttings of hay. Cooler weather has been a relief to cattle as well. Overall, crops look good. However, little drying of Mississippi bottom land occurred, and producers are doubtful that they will be able to plant in those areas. Field activities included some spraying for pests and fungicide applications. There were 5.5 days suitable for field work. Topsoil moisture was rated 1 percent very short, 7 percent short, 78 percent adequate, and 14 percent surplus. Subsoil moisture was rated 1 percent very short, 9 percent short, 81 percent adequate, and 9 percent surplus. Hay and roughage supplies were rated 2 percent very short, 13 percent short, 71 adequate, and 14 percent surplus.
Corn – Silking – 94 percent this week, 88 percent last week
Corn – Dough – 66 percent this week, 45 percent last week
Cotton – Squared – 88 percent this week, 79 percent last week
Cotton – Setting Bolls – 47 percent this week, 24 percent last week
Soybeans – Blooming – 68 percent this week, 58 percent last week
Soybeans – Setting Pods – 41 percent this week, 27 percent last week
Tobacco – Topped – 53 percent this week, 43 percent last week
Corn – 1 percent very poor, 2 percent poor, 13 percent fair, 59 percent good and 25 percent excellent
Cotton – 4 percent very poor, 7 percent poor, 21 percent fair, 55 percent good and 13 percent excellent
Soybeans – 1 percent very poor, 3 percent poor, 18 percent fair, 60 percent good and 18 percent excellent
Tobacco – 7 percent very poor, 18 percent poor, 34 percent fair, 30 percent good and 11 percent excellent
Pasture – 1 percent very poor, 5 percent poor, 25 percent fair, 57 percent good and 12 percent excellent
Hay – 1 percent very poor, 4 percent poor, 22 percent fair, 60 percent good and 13 percent excellent
Cattle/Beef Indexes for the week ending July 26th:
Indexes track the daily market values for the past 10 & 60 days. Each daily value is the weighted total of the Gain/(Loss) for 12 market factors compared to the previous trading day.
10-Day Index: +0.73% compared to +1.25% last Friday
60 Day Index: -1.58% compared to -3.14% last Friday
Slaughter Cattle: In the South, cattle traded late Friday afternoon at 112.00, 1.00 higher than last week. In the North, there was light trade at 184.00 on a dressed basis, 1.00 higher than last week. In the 3 front months, Live Cattle futures closed from 1.05 to 1.40 higher for the week.
Feeder & Stocker Cattle: On a national basis, feeder cattle & stocker calves were mostly steady to 3.00 higher. The 3 front months of Feeder Cattle futures closed from 3.52 to 4.30 higher.
CME Feeder Cattle Index: Closed at 139.58, 0.91 higher for the week.
Boxed Beef Cutouts: Choice cutout 1.25 lower at 212.17 and the Select cutout 1.17 lower at 188.34.
Cutter Cow Cutout: 0.95 lower at 173.86.
Slaughter Cows: Market cows traded steady to 5.00 higher.
Grain: Kansas City corn closed 0.16 lower with the futures also 0.16 lower for the week. Cash wheat and futures were both 0.07 lower.