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Sep
27
2018
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Posted 78 days ago ago by Administrator Account
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Daily Market Summary for September 27th
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 negotiated cash trade was light on light to moderate demand in Nebraska and the Western Cornbelt. Compared to last week, dressed purchases in both regions traded 1.00 lower at 174.00. In the Western Cornbelt compared to Tuesday live purchases traded mostly .50 lower at 110.00. Trade was mostly inactive on light demand in the Southern Plains and Colorado. On Tuesday in Nebraska, early live purchases traded mostly at 110.50. The latest established market in the Southern Plains was last week with live purchases at 111.00. Last week in Colorado, live purchases traded from 110.50-111.00 on a light test.
Negotiated Sales:
Confirmed: 15,327 Week Ago: 15,031 Year Ago: 5,039
Formula Net - Dressed Steers & Heifers
Head count priced today: 26,100
Weighted avg weight: 892.00
Weighted avg net price: 178.36
Alberta Beef Producers Daily Report:
Alberta direct cattle sales Wednesday saw light dressed trade with prices fully steady to $3.00/cwt higher than last week. Additional Wednesday reports are expected to trickle in and follow up trade should continue this afternoon. Canadian fed cattle/cow exports to the US for the week ending September 15th totaled 9,463 head and was the largest weekly total so far this year.
Livestock Slaughter under Federal Inspection:
Cattle Calves Hogs Sheep
Thursday (est 120,000 2,000 469,000 8,000
Week ago (est) 120,000 2,000 437,000 8,000
Year ago (act) 118,000 1,000 461,000 8,000
Week to date (est) 478,000 8,000 1,883,000 32,000
Last Week (est) 473,000 8,000 1,709,000 33,000
Last Year (act) 473,000 7,000 1,838,000 31,000
Boxed Beef:
Boxed beef cutout values steady to weak on light to moderate demand and moderate offerings. Select and Choice rib, chuck, and loin cuts steady to weak while round cuts steady to firm. Beef trimmings slightly higher on moderate demand and offerings.
Cutout Values... Choice Select
Current Cutout Values: 204.71 192.56
Change from prior day: -0.14 -0.39
Choice/Select spread: +12.15
Futures:
October Live Cattle Futures: 113.22… -0.65
December Live Cattle Futures: 118.57… -0.28
February Live Cattle Futures: 122.55… -0.32
September Feeder Cattle Futures: 157.30… +0.25
October Feeder Cattle Futures: 157.85… -0.45
November Feeder Cattle Futures: 157.62… -0.63
CME Feeder Cattle Index: 158.13… +0.09
October Hog Futures: 61.30… -0.90
Nearby Crude Oil Futures Contract: 72.12… +0.55
National Grain Market Summary:
Compared to yesterday, cash bids for corn, sorghum, and soybeans were mostly higher, while wheat was mixed. USDA said sales and shipments of corn totaled 67.4 million and 53.5 million bushels, respectively, last week, putting total commitments up 61% and actual shipments up 47% in 2018-19 from a year ago. Soybean export sales and shipments totaled 32.0 million and 30.1 million bushels, respectively, putting total commitments down 16% from a year ago and total shipments down 18% from a year ago. Last week, 24.1 million and 17.8 million bushels of export sales and shipments of wheat helped total shipments improve to down 29% in 2018-19 from a year ago.
December Corn Futures: 3.6475… +0.0175
November Soybean Futures: 8.5500… +0.0500
December Wheat Futures: 5.1300… -0.0450
Kansas City Corn: 3.21… +0.02
Kansas City Soybeans: 8.35… +0.05
Kansas City Wheat: 5.17… -0.04
Financial Markets:
Dow Jones Industrial Average: 26,439.93… +54.65
S & P 500: 2,914.01… +8.04
NASDAQ: 8,041.97… +51.60
U.S. Dollar Index: 94.92… +0.64
Cotton (www.ams.usda.gov):
October Cotton Futures: 78.12… -0.88
Milk (www.cmegroup.com):
September Class III Milk Futures: 16.11… -0.03
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