Oct 26 2018

Texas Daily Ag Market News Summary Posted 5 years 176 days ago by Administrator Account

Daily Market Summary for October 26th  

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:  

Friday negotiated cash trade was active on good demand in all feeding regions. In the Texas Panhandle compared to two weeks ago, live purchases traded mostly 4.00 higher, with the bulk at 115.00. In Kansas compared to last week, live purchases traded mostly 3.00 higher at 114.00, with a few up to 115.00. In Nebraska compared to last week, live purchases traded 3.00-4.00 higher from 114.00-115.00. Dressed purchases compared to last week, traded 6.00 higher at 180.00. In Colorado, early live purchases traded 3.00-4.00 higher from 114.00-115.00. In the Western Cornbelt compared to Tuesday, live purchases trade steady to 1.00 higher from 112.00-113.00. Dressed purchases compared to last week, trade 6.00 higher at 180.00.

 

Negotiated Sales:

Confirmed: 102,764    Week Ago: 8,372    Year Ago: 3,122

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 17,300

Weighted avg weight:        851.00

Weighted avg net price:    176.14

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales so far this week have seen light trade develop with dressed sales ranging from 248.00-250.00 delivered. Sales are 3.00-4.00 lower than last week. Live sales have been reported in the upper 140's and are a couple dollars lower than last week's weighted average price. Packers were indicating cattle that they bought this week would be lifted in three weeks. That said there have been reports packers are behind schedule lifting some cattle that were sold on the cash market a few weeks ago.

 

Livestock Slaughter under Federal Inspection:                                  

                                   Cattle        Calves      Hogs             Sheep

Friday (est               107,000     2,000          472,000         6,000

Week ago (est)       115,000     2,000          464,000         6,000

Year ago (act)         106,000     3,000          456,000         7,000

Week to date (est) 582,000   10,000      2,375,000       34,000

Last Week (est)       582,000   10,000      2,354,000       37,000

Last Year (act)         574,000   10,000      2,314,000       39,000

 

Saturday (est             51,000        0               194,000         1,000

Week ago (est)         43,000        0                235,000         1,000

Year ago (act)            50,000        0               200,000         0

Week to date (est) 633,000    10,000      2,569,000       35,000

Last Week (est)       625,000    10,000      2,589,000       38,000

Last Year* (act)       625,000    10,000      2,515,000       39,000

2018 YTD            26,849,000  454,000 100,899,000  1,622,000

2017 *YTD          26,196,000  412,000  98,701,000   1,581,000

Percent change       +2.5%      +10.1%        +2.2%           +2.6%

 

Boxed Beef: 

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

 

Cutout Values...              Choice       Select

Current Cutout Values:    213.47     198.83

Change from prior day:      +0.37       +0.52

Choice/Select spread:      +14.64

 

Futures: 

October Live Cattle Futures: 113.87… +0.52

December Live Cattle Futures: 118.40… +1.33

February Live Cattle Futures: 123.45… +1.23

November Feeder Cattle Futures: 154.80… +0.85

January Feeder Cattle Futures: 149.70… +0.65

March Feeder Cattle Futures: 147.82… +0.32

 

 

CME Feeder Cattle Index: 154.01… +0.36

December Hog Futures: 57.92… +1.15

Nearby Crude Oil Futures Contract: 67.59… +0.26

 

National Grain Market Summary:

Compared to last week, cash bids for wheat and corn were mixed, while sorghum and soybeans were lower.  Weather this week has been favorable for harvest, but has been disruptive to winter wheat planting.  USDA said last week's export sales and shipments of corn totaled 13.8 million bushels (mb) and 47.8 mb respectively, putting total commitments up 32% in 2018-19 from a year ago.  Export sales and shipments of soybeans totaled 7.8 mb and 40.8 mb respectively.  Total soybean export commitments are now down 26% in 2018-19 from a year ago and actual shipments are down 35%. Export sales and shipments of wheat totaled 16.3 mb and 14.7 mb respectively, another bearish showing for the week with exports now down 22% from a year ago.  Wheat was from 28 1/4 cents lower to 5 cents higher.  Corn was from 17 3/4 cents lower to 3 cents higher.  Sorghum was 17 to 18 cents lower.  Soybeans were 18 3/4 to 31 ¾ cents lower.

 

December Corn Futures: 3.6775… +0.0675

November Soybean Futures: 8.4500… +0.0325

December Wheat Futures: 5.0525… +0.1800

Kansas City Corn: 3.55… +0.16

Kansas City Soybeans: 8.00… +0.03

Kansas City Wheat: 5.00… +0.13

 

Financial Markets: 

Dow Jones Industrial Average: 24,687.90… -296.65

S & P 500: 2,658.54… -47.03

NASDAQ: 7,167.21… -151.13

U.S. Dollar Index: 96.37… -0.23

Cotton (www.ams.usda.gov): 

December Cotton Futures: 78.53… +0.85

Milk (www.cmegroup.com): 

October Class III Milk Futures: 15.53… +/-0.00