Sep 06 2018

Texas Daily Ag Market News Summary Posted 6 years 82 days ago by Administrator Account

Daily Market Summary for September 6th  

 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 Thursday, trade was light on light to moderate demand in the Western Cornbelt, with early purchases mostly from 107.00-108.50 and 170.00 respectively. Trade was mostly inactive on light demand in all other 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: 6,633    Week Ago: 5,008    Year Ago: 181

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 21,600

Weighted avg weight:        874.00

Weighted avg net price:    172.53

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Wednesday saw no new trade to report. Dressed bids have been reported at 240.00 delivered. Bids are positioned at the top end of last week's trading range. Live bids have been reported in the low 140's and are 1.00 higher than last week's weighted average price.

 

Livestock Slaughter under Federal Inspection:                                  

                                  CATTLE     CALVES    HOGS       SHEEP

Thursday (est         119,000    2,000      471,000      8,000

Week ago (est)       118,000    2,000      468,000      7,000

Year ago (act)         120,000    2,000      457,000      9,000

Week to date (est) 354,000    6,000   1,407,000    22,000

Last Week (est)       473,000    8,000   1,852,000    28,000

Last Year (act)         357,000    6,000   1,354,000    26,000

 

Boxed Beef: 

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

Cutout Values...              Choice       Select

Current Cutout Values:    208.75     197.83

Change from prior day:      -2.07        -4.38

Choice/Select spread:         10.92

 

Futures Summary: 

 

CME Feeder Cattle Index: 151.04… +0.44

October Live Cattle Futures: 108.90… -0.15

December Live Cattle Futures: 113.72… -0.03

February Live Cattle Futures: 117.62… +0.05

September Feeder Cattle Futures: 151.77… +0.05

October Feeder Cattle Futures: 151.52… +0.05

November Feeder Cattle Futures: 151.42… -0.15

 

September Hog Futures: 54.97… +3.00

Nearby Crude Oil Futures Contract: 67.77… -0.95

 

National Grain Market Summary:

Compared to yesterday, cash bids for wheat were lower, soybeans were mixed, while corn and sorghum were higher.  Weather continues to play a part in markets, especially for harvest.  The 6-10 day forecast appears drier which has helped keep futures movement more mild despite the rainfall.  Trade dispute continues to be bearish for soybeans, especially with the possibility of more tariffs in the near future.

September Corn Futures: 3.5350… +0.0175

August Soybean Futures: 8.2675… +0.0125

September Wheat Futures: 4.8600… -0.0775

Kansas City Corn: 3.40… +0.01

Kansas City Soybeans: 7.94… +0.01

Kansas City Wheat: 5.17… -0.11

 

Financial Markets: 

Dow Jones Industrial Average: 25,995.94… +20.95

S & P 500: 2,878.11… -10.49

NASDAQ: 7,922.73… -72.44

U.S. Dollar Index: 95.06… -0.04

Cotton (www.ams.usda.gov): 

October Cotton Futures: 81.38… -0.33

Milk (www.cmegroup.com): 

September Class III Milk Futures: 16.29… -0.26