Sep 13 2018

Texas Daily Ag Market News Summary Posted 6 years 75 days ago by Administrator Account

Daily Market Summary for September 13th 

 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 for Thursday negotiated cash trading has been at a standstill in the Southern Plains and Colorado. In Nebraska and the Western Cornbelt trading has been inactive on very light demand. Not enough trades for a market trend. 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: 743 Week Ago: 6,633 Year Ago: 5,905

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 20,500

Weighted avg weight:       891.00

Weighted avg net price:   172.17

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Wednesday saw light trade develop with live sales reported at 142.00, sales are fully steady with last week's weighted average price. Dressed bids have been reported at 240.00 delivered and are positioned at the top end of last week's trading range. Buying interest has been noted from all three western Canadian packers.

 

Livestock Slaughter under Federal Inspection:                                  

                                   CATTLE     CALVES   HOGS       SHEEP

Thursday (est          119,000    2,000      411,000      8,000

Week ago (est)        119,000    2,000      471,000      8,000

Year ago (act)          120,000    1,000      460,000      7,000

Week to date (est) 476,000    8,000   1,749,000    31,000

Last Week (est)       354,000    6,000   1,407,000    22,000

Last Year (act)         470,000    7,000   1,829,000    31,000

 

Boxed Beef: 

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

 

Cutout Values...              Choice       Select

Current Cutout Values:    204.04     197.24

Change from prior day:       -0.75       -0.03

Choice/Select spread:          6.80

 

Futures Summary: 

 

CME Feeder Cattle Index: 152.60… -0.03

October Live Cattle Futures: 110.80… -0.67

December Live Cattle Futures: 115.40… -0.12

February Live Cattle Futures: 119.90… +0.40

September Feeder Cattle Futures: 154.95… +0.33

October Feeder Cattle Futures: 155.40… +0.38

November Feeder Cattle Futures: 155.07… +0.25

 

September Hog Futures: 55.67… -0.13

Nearby Crude Oil Futures Contract: 68.59… -1.78

 

National Grain Market Summary:

Compared to yesterday, cash bids for grains were lower.  Grains continued to see pressure from USDA WASDE report released on Wednesday as well as little fresh news to go on.

 

December Corn Futures: 3.5050… -0.0200

November Soybean Futures: 8.3325… -0.0675

December Wheat Futures: 4.9700… -0.0975

Kansas City Corn: 3.21… -0.02

Kansas City Soybeans: 7.88… -0.07

Kansas City Wheat: 5.02… -0.05

 

Financial Markets: 

Dow Jones Industrial Average: 26,145.99… +147.07

S & P 500: 2,904.18… +15.26

NASDAQ: 8,013.71… +59.48

U.S. Dollar Index: 94.55… -0.26

Cotton (www.ams.usda.gov): 

October Cotton Futures: 81.62… -1.14

Milk (www.cmegroup.com): 

September Class III Milk Futures: 16.13… +/-0.00