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Sep
18
2018

Texas Daily Ag Market News Summary

Posted 6 years 70 days ago by Administrator Account

Daily Market Summary for September 18th

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!

Slaughter Cattle:

Tuesday negotiated cash trading has been at a standstill in all major feeding regions. 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: 347 Week Ago: 798 Year Ago: 375

Formula Net - Dressed Steers & Heifers

Head count priced today: 26,900

Weighted avg weight: 879.00

Weighted avg net price: 172.10

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Monday saw no new trade to report. This week's showlist has been compiled with volumes steady with the previous week. Canfax released it s September 1st cattle on feed report last Friday. August placements were over 15% larger than last year while fed cattle marketings were 4% larger. Cattle on feed inventories remain larger than last year and the five-year average.

Livestock Slaughter under Federal Inspection:

CATTLE CALVES HOGS SHEEP

Tuesday (est 120,000 2,000 422,000 9,000

Week ago (est) 119,000 2,000 469,000 9,000

Year ago (act) 118,000 2,000 454,000 8,000

Week to date (est) 234,000 4,000 838,000 18,000

Last Week (est) 238,000 4,000 928,000 16,000

Last Year (act) 229,000 4,000 902,000 16,000

Boxed Beef:

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

Cutout Values... Choice Select

Current Cutout Values: 205.29 195.47

Change from prior day: -0.75 -1.91

Choice/Select spread: 9.82

Futures Summary:

CME Feeder Cattle Index: 153.62… +0.24

October Live Cattle Futures: 113.22… -0.20

December Live Cattle Futures: 117.97… -0.13

February Live Cattle Futures: 121.85… -0.45

September Feeder Cattle Futures: 155.82… -1.50

October Feeder Cattle Futures: 158.02… -1.15

November Feeder Cattle Futures: 157.82… -1.20

October Hog Futures: 59.17… +2.72

Nearby Crude Oil Futures Contract: 69.85… +0.94

National Grain Market Summary:

Compared to yesterday, cash bids for corn, sorghum, and soybeans were lower, while wheat was mostly higher. An announcement was released late yesterday that another round of tariffs would be placed on Chinese goods amounting to $200 billion dollars and would begin September 24th. Trump and senior officials said the third list of goods have 10% tariffs until the end of the year and increase to 25% starting on January 1st, unless the US and China come to an agreement. A large number of agricultural items are on this new list. A statement issued on Monday from Trump’s office stated that if China takes retaliatory action, he would pursue additional tariffs on Chinese imports amounting to approximately $267 billion dollars.