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Sep
18
2018

Texas Daily Ag Market News Summary

Posted 5 years 193 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.
 
December Corn Futures: 3.4325… -0.0475
November Soybean Futures: 8.1400… -0.0950
December Wheat Futures: 5.1050… +0.0425
Kansas City Corn: 3.12… -0.05
Kansas City Soybeans: 7.69… -0.09
Kansas City Wheat: 5.16… +0.03

 

Financial Markets: 

Dow Jones Industrial Average: 26,246.96… +184.84
S & P 500: 2,904.31… +15.51
NASDAQ: 7,956.11… +60.32
U.S. Dollar Index: 94.63… +0.13

Cotton (www.ams.usda.gov): 

October Cotton Futures: 79.15… -2.36

Milk (www.cmegroup.com): 

September Class III Milk Futures: 16.13… +0.01







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