Sep 10 2018

Texas Daily Ag Market News Summary Posted 6 years 78 days ago by Administrator Account

Daily Market Summary for September 10th 

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:  

So far for Monday negotiated cash trading has been at a standstill in all major feeding regions. Last week in the Southern Plains and Colorado live cash trades moved at 108.00. For the prior week in Nebraska live cash trades moved mostly from 107.00-108.00 and dressed cash trades moved at 170.00. For the previous week in the Western Cornbelt live cash trades moved from 107.00-108.50 and dressed cash trades moved mostly at 170.00.

 

Negotiated Sales:

Confirmed: 41    Week Ago: none    Year Ago: none

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 45,400

Weighted avg weight:       855.00

Weighted avg net price:    169.92

 

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 142.00 respectively. Steer prices were fully steady with the previous week while heifer prices were 2.00 higher. Fed cattle prices are 8.00-9.00 higher than last year. Looking at the non-fed market butcher cows traded steady to 0.50 lower through commercial auction facilities last week.

 

Livestock Slaughter under Federal Inspection:                                  

                                  CATTLE      CALVES    HOGS           SHEEP

Monday (est            119,000    2,000     459,000     8,000

Week ago (est)            2,000        0             2,000         0

Year ago (act)          115,000    2,000     456,000     8,000

 

Boxed Beef: 

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

 

Cutout Values...              Choice       Select

Current Cutout Values:    206.30     198.93

Change from prior day:       -0.26       +1.84

Choice/Select spread:          7.37

 

Futures Summary: 

 

CME Feeder Cattle Index: 152.52… +1.32

October Live Cattle Futures: 110.15… +0.20

December Live Cattle Futures: 114.42… Unchanged

February Live Cattle Futures: 118.52… +0.15

September Feeder Cattle Futures: 152.52… -0.45

October Feeder Cattle Futures: 152.67… -0.28

November Feeder Cattle Futures: 152.87… +0.15

 

September Hog Futures: 55.95… +0.30

Nearby Crude Oil Futures Contract: 67.54… -0.21

 

National Grain Market Summary:

Compared to Friday, cash bids for wheat, soybeans and sorghum were higher, corn was mixed. USDA said last week export inspections totaled 25.9 million bushels of corn, 30.6 million bushels of soybeans and 15.8 million bushels of wheat. Wheat markets gained support today after the Australian Bureau of Agricultural and Resource Economics department reduced its estimated wheat production for 2018-2019.

 

September Corn Futures: 3.5550… +0.0125

August Soybean Futures: 8.3350… +0.0150

September Wheat Futures: 5.040… +0.1775

Kansas City Corn: 3.40… Unchanged

Kansas City Soybeans: 8.00… +0.01

Kansas City Wheat: 5.31… +0.16

 

Financial Markets: 

Dow Jones Industrial Average: 25,858.30… -58.24

S & P 500: 2,877.28… +5.52

NASDAQ: 7,924.16… +21.62

U.S. Dollar Index: 95.17… -0.22

Cotton (www.ams.usda.gov): 

October Cotton Futures: 83.93… +1.80

Milk (www.cmegroup.com): 

September Class III Milk Futures: 16.26… +0.05