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Aug
29
2018
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Posted 4 years 210 days ago ago by Administrator Account
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Daily Market Summary for August 29th
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:
So far for Wednesday trading in the Southern Plains and Colorado has been at a standstill. In Nebraska and the Western Cornbelt trading has been limited on very light demand. Not enough trades for a full market trend. Last week, in the Southern Plains, live cash trades moved at 109.00. For the prior week, in Nebraska, live cash trades moved from 109.00-109.50 and dressed cash trades moved mostly at 173.00. For the previous week, in Colorado, live cash trades moved at 109.50. Last week, in the Western Cornbelt, live cash trades moved mostly from 108.00-109.00 and dressed cash trades moved mostly from 172.00-174.00.
Negotiated Sales:
Confirmed: 2,840 Week Ago: 26,746 Year Ago: 17,902
Formula Net - Dressed Steers & Heifers
Head count priced today: 18,900
Weighted avg weight: 859.00
Weighted avg net price: 176.23
Alberta Beef Producers Daily Report:
Alberta direct cattle sales Tuesday saw no new trade to report but there is a chance scattered trade could develop by this afternoon. Technical price levels are unchanged from Monday. Given a weaker price tone in the US cash market, this does not bode well for prices here locally.
Livestock Slaughter under Federal Inspection:
CATTLE CALVES HOGS SHEEP
Wednesday (est 117,000 2,000 468,000 6,000
Week ago (est) 117,000 2,000 469,000 7,000
Year ago (act) 116,000 2,000 451,000 7,000
Week to date (est) 355,000 6,000 1,402,000 21,000
Last Week (est) 354,000 6,000 1,384,000 24,000
Last Year (act) 349,000 6,000 1,350,000 25,000
Boxed Beef:
Boxed beef cutout values firm on Choice and weak on Select on light to moderate demand and offerings. Select and Choice round and loin cuts steady to weak while rib cuts steady to firm. Choice chuck cuts steady while Select lower. Beef trimmings not fully established.
Cutout Values... Choice Select
Current Cutout Values: 212.68 203.55
Change from prior day: +0.28 -0.73
Choice/Select spread: 9.13
Futures Summary:
CME Feeder Cattle Index: 150.23… -0.37
August Live Cattle Futures: 109.17… +1.37
October Live Cattle Futures: 108.70… +0.25
December Live Cattle Futures: 112.70… +0.10
August Feeder Cattle Futures: 149.32… -0.03
September Feeder Cattle Futures: 149.17… -0.35
November Feeder Cattle Futures: 149.40… -0.02
September Hog Futures: 51.55… -0.45
Nearby Crude Oil Futures Contract: 69.51… +0.98
National Grain Market Summary:
Compared to yesterday, wheat and corn was steady to higher; sorghum was higher; and soybeans were mixed. Wheat futures led the charge today on the Boards. Corn and soybeans followed wheat higher, but were subdued by favorable growing conditions towards the end of crop life. The EIA's weekly report noted a 5 percent drop in Gulf Coast ethanol stocks, the first drop in five weeks.
September Corn Futures: 3.4125… +0.0025
August Soybean Futures: 8.2325… +0.0275
September Wheat Futures: 5.1575… +0.1750
Kansas City Corn: 3.27… Unchanged
Kansas City Soybeans: 7.91… +0.03
Kansas City Wheat: 5.50… +0.21
Financial Markets:
Dow Jones Industrial Average: 26,125.18… +61.16
S & P 500: 2,914.08… +16.47
NASDAQ: 8,109.69… +79.65
U.S. Dollar Index: 94.56… -0.16
Cotton (www.ams.usda.gov):
October Cotton Futures: 82.97… -0.84
Milk (www.cmegroup.com):
September Class III Milk Futures: 16.48… +0.06