Sep 04 2018

Texas Daily Ag Market News Summary Posted 6 years 84 days ago by Administrator Account

Daily Market Summary for September 4th  

 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:  

Thus far Tuesday, negotiated cash trade was mostly inactive on light demand in all feeding regions. The latest established market in any feeding region was last week, with live purchases in the Southern Plains and Colorado at 107.00. Last week in Nebraska, live purchases traded from 107.00-107.50 with dressed purchases at 170.00. For the previous week in the Western Cornbelt, live purchases traded from 106.00-108.50 with dressed purchases from 168.00-170.00.

 

Negotiated Sales:

Confirmed: 316    Week Ago: 2,562    Year Ago: 80

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 42,100

Weighted avg weight:        841.00

Weighted avg net price:    173.51

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales last week saw light trade develop with weighted average steer and heifer prices closing the week at 142.50 and 140.25 respectively. Steer prices were 0.50 higher than the previous week while heifers eased 1.00. From their highs in January to their lows in August fed prices have dropped 15%. The average decline over the past ten years from high to low stands at 18%. Looking at the non-fed market butcher cows traded 1.00 higher through commercial auction facilities. 

 

Livestock Slaughter under Federal Inspection:                                  

                                   CATTLE     CALVES    HOGS       SHEEP

Tuesday (est           119,000    2,000     463,000      7,000

Week ago (est)       119,000    2,000     468,000      7,000

Year ago (act)         117,000    2,000     448,000      9,000

Week to date (est) 121,000    2,000     465,000      7,000

Last Week (est)       238,000    4,000     934,000    15,000

Last Year (act)         120,000    2,000     450,000    10,000

 

Boxed Beef: 

Boxed beef cutout values higher on fairly good demand and heavy offerings. Choice rib, round, and loin cuts steady to firm while chuck cuts higher. Select chuck and round cuts steady while rib and loin cuts firm to higher. Beef trimmings sharply higher on good demand and light offerings.

 

Cutout Values...              Choice       Select

Current Cutout Values:    210.81     202.21

Change from prior day:      +1.13       +0.94

Choice/Select spread:          8.61

 

Futures Summary: 

 

CME Feeder Cattle Index: 149.41… -0.57

October Live Cattle Futures: 109.87… +1.10

December Live Cattle Futures: 114.40… +1.43

February Live Cattle Futures: 117.72… +0.85

September Feeder Cattle Futures: 151.72… +2.27

October Feeder Cattle Futures: 151.82… +2.70

November Feeder Cattle Futures: 151.50… +2.50

 

September Hog Futures: 51.07… +0.65

Nearby Crude Oil Futures Contract: 69.87… +0.07

 

National Grain Market Summary:

Compared to Friday, cash bids for wheat were lower, corn, soybeans, and sorghum were higher.  Wheat markets saw pressure today from reports that Russia will not be limiting its wheat exports this year.  Corn and soybeans markets saw slight gains today from flooding concerns in some parts of the Midwest US.  USDA said last week 28.3 million bushels of soybeans and 14.4 million bushels of wheat were inspected for export.

 

September Corn Futures: 3.5450… +0.0350

August Soybean Futures: 8.3200… -0.0100

September Wheat Futures: 5.0275… -0.1575

Kansas City Corn: 3.42… +0.04

Kansas City Soybeans: 7.99… +0.01

Kansas City Wheat: 5.42

 

Financial Markets: 

Dow Jones Industrial Average: 25,953.09… -11.73

S & P 500: 2,896.71… -4.81

NASDAQ: 8,091.25… -18.29

U.S. Dollar Index: 95.46… +0.32

Cotton (www.ams.usda.gov): 

October Cotton Futures: 82.78… +0.47

Milk (www.cmegroup.com): 

September Class III Milk Futures: 16.38… +/-0.00