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Sep
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2018

Texas Daily Ag Market News Summary

Posted 85 days ago ago by Administrator Account

Daily Market Summary for September 20th  

 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!


Slaughter Cattle:  

Thursday in Nebraska negotiated cash trading has been slow on light to moderate demand. A few dressed trades have moved at 175.00. In the Western Cornbelt negotiated cash trading has been limited on very light demand. In the Southern Plains and Colorado negotiate cash trading has been at a standstill.  Not enough trades for a full market trend in any major feeding region. Last week, in the Southern Plains, live cash trades moved at 111.00. In the Northern Plains live cash trades moved from 111.00-111.50 and dressed trades, in Nebraska, moved at 175.00. For the prior week in the Western Cornbelt live cash trades mostly at 110.00 and dressed trades ranged from 172.00-175.00.

 

Negotiated Sales:

Confirmed: 15,031    Week Ago: 743    Year Ago: 45

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 18,400
Weighted avg weight:       884.00
Weighted avg net price:    176.53

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Wednesday saw no new trade to report but the market tone is sounding stronger. There have been rumblings dressed bids are in the mid 240's on a delivered basis. Bids are a couple dollars higher than last week.

 

Livestock Slaughter under Federal Inspection:                                  

                                  CATTLE     CALVES   HOGS        SHEEP
Thursday (est         120,000    2,000      437,000      8,000
Week ago (est)       119,000    2,000      411,000      8,000
Year ago (act)         118,000    1,000       458,000     7,000
Week to date (est) 473,000    8,000   1,709,000    33,000
Last Week (est)       476,000    8,000   1,749,000    31,000
Last Year (act)         464,000    7,000   1,817,000    30,000

 

 

Boxed Beef: 

Boxed beef cutout values firm on moderate to fairly good demand and moderate to heavy offerings. Select and Choice rib, chuck, and round cuts steady to firm while loin cuts weak. Beef trimmings moderately to sharply lower on light demand and light to moderate offerings.
 
Cutout Values...              Choice       Select
Current Cutout Values:    204.52     194.91
Change from prior day:      +0.27       +0.73
Choice/Select spread:        +9.61

 

Futures Summary: 

 

CME Feeder Cattle Index: 154.46… +1.38
October Live Cattle Futures: 112.45… -0.65
December Live Cattle Futures: 117.90… -0.07
February Live Cattle Futures: 121.60… -0.25
September Feeder Cattle Futures: 155.67… +0.15
October Feeder Cattle Futures: 157.27… -0.60
November Feeder Cattle Futures: 157.15… -0.57
 
October Hog Futures: 61.25… +1.25
Nearby Crude Oil Futures Contract: 70.80… -0.32

 

National Grain Market Summary:

Compared to yesterday, cash bids for wheat, corn, sorghum, and soybeans were mostly higher.  Today’s market was supported by rumors of the Argentine government potentially raising export taxes on their own corn farmers.  Rumors also surfaced that Argentina bought 15 cargoes of US soybeans and in turn sold 15 cargoes to China, supporting the soybean complex.
 
December Corn Futures: 3.5250… +0.0675
November Soybean Futures: 8.5025… +0.2025
December Wheat Futures: 5.2400… +0.0150
Kansas City Corn: 3.21… +0.07
Kansas City Soybeans: 8.00… +0.20
Kansas City Wheat: 5.27… +0.01

 

Financial Markets: 

Dow Jones Industrial Average: 26,657.38… +251.62
S & P 500: 2,930.87… +22.92
NASDAQ: 8,028.23… +78.19
U.S. Dollar Index: 93.89… -0.66

Cotton (www.ams.usda.gov): 

October Cotton Futures: 79.07… -0.56

Milk (www.cmegroup.com): 

September Class III Milk Futures: 16.14… +/-0.00