Sep 17 2018

Texas Daily Ag Market News Summary Posted 5 years 216 days ago by

Daily Market Summary for September 17th  

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:  

Monday trading in the Southern Plains, Colorado and the Western Cornbelt has been at a standstill. In Nebraska 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 111.00. In the Northern Plains live cash trades moved from 111.00-111.50 and dressed trades, in Nebraska, moved at 175.00. For the prior week in the Western Cornbelt live cash trades mostly at 110.00 and dressed trades ranged from 172.00-175.00.

 

Negotiated Sales:

Confirmed: 3,528    Week Ago: 115    Year Ago: 106

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 53,400

Weighted avg weight:        857.00

Weighted avg net price:    171.79

 

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. Prices are fully steady with the previous week. Fed prices are 9.00 higher than last year and 13.00 higher than 2016. Looking at the non-fed market butcher cow prices traded 2.00 lower through commercial auction facilities last week while butcher bull prices were 6.00 lower. From their second half highs in July D1, D2 cow prices have dropped 10%.

 

Livestock Slaughter under Federal Inspection:                                  

                                CATTLE     CALVES   HOGS        SHEEP

Monday (est            119,000    2,000     416,000     9,000

Week ago (est)        119,000    2,000     459,000     7,000

Year ago (act)          111,000    2,000     448,000     8,000

 

Boxed Beef: 

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

 

Cutout Values...              Choice       Select

Current Cutout Values:    206.04     197.38

Change from prior day:      +1.77       +0.91

Choice/Select spread:          8.66

 

Futures Summary: 

 

CME Feeder Cattle Index: 153.38… +0.67

October Live Cattle Futures: 113.42… -0.38

December Live Cattle Futures: 118.10… +0.05

February Live Cattle Futures: 122.30… +0.40

September Feeder Cattle Futures: 157.32… -0.10

October Feeder Cattle Futures: 159.17… +0.30

November Feeder Cattle Futures: 159.02… +0.60

 

October Hog Futures: 56.45… +0.23

Nearby Crude Oil Futures Contract: 68.91… -0.08

 

National Grain Market Summary:

Compared to Friday, cash bids for corn, sorghum, and soybeans were lower, while wheat was mixed.  The grain market is struggling today with very little fresh news.  The ongoing trade conflict with China is expected to escalate early this week with the Trump Administration threatening tariffs on an additional $200 billion worth of goods, which has China threatening to pull out of proposed talks.

 

December Corn Futures: 3.4800… -0.0375

November Soybean Futures: 8.2350… -0.0700

December Wheat Futures: 5.0625… -0.0525

Kansas City Corn: 3.17… -0.04

Kansas City Soybeans: 7.78… -0.07

Kansas City Wheat: 5.13… -0.03

 

Financial Markets: 

Dow Jones Industrial Average: 26,062.39… -92.28

S & P 500: 2,888.90… -16.08

NASDAQ: 7,895.79… -114.25

U.S. Dollar Index: 94.50… -0.46

Cotton (www.ams.usda.gov): 

October Cotton Futures: 81.51… -0.39

Milk (www.cmegroup.com): 

September Class III Milk Futures: 16.12… +0.01