Sep 19 2018

Texas Daily Ag Market News Summary Posted 6 years 69 days ago by Administrator Account

Daily Market Summary for September 19th 

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:  

Wednesday negotiated cash trading has been at a standstill in the Southern and Northern feeding regions. In the Western Cornbelt negotiated cash trading has been inactive on very light demand. Not enough trades for a 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: 516    Week Ago: 422    Year Ago: 719

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 17,000

Weighted avg weight:        870.00

Weighted avg net price:    176.71

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Tuesday saw no new trade to report but there is a chance scattered trade could develop by this afternoon. Technical price levels have eased since Monday. Last week on a cash to cash to basis, Alberta fed prices traded at a 2.00 discount against the Nebraska market.

 

Livestock Slaughter under Federal Inspection:                                  

                                  CATTLE     CALVES   HOGS        SHEEP

Wednesday (est      119,000    2,000      434,000      7,000

Week ago (est)        119,000    2,000      410,000      7,000

Year ago (act)          117,000    2,000      457,000      7,000

Week to date (est) 353,000    6,000   1,272,000    25,000

Last Week (est)       357,000    6,000   1,338,000    23,000

Last Year (act)         346,000    6,000   1,359,000    23,000

 

Boxed Beef: 

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

 

Cutout Values...              Choice       Select

Current Cutout Values:    204.25     194.18

Change from prior day:      -1.04        -1.29

Choice/Select spread:        10.07

 

Futures Summary: 

 

CME Feeder Cattle Index: 153.08… -0.54

October Live Cattle Futures: 113.10… -0.12

December Live Cattle Futures: 117.97… Unchanged

February Live Cattle Futures: 121.85… Unchanged

September Feeder Cattle Futures: 155.52… -0.30

October Feeder Cattle Futures: 157.87… -0.15

November Feeder Cattle Futures: 157.72… -0.10

 

October Hog Futures: 60.00… +0.83

Nearby Crude Oil Futures Contract: 71.12… +1.27

 

National Grain Market Summary:

Compared to yesterday, wheat, corn, soybeans and sorghum were higher. Harvest pressure on corn recently as combines are rolling in different areas of the Corn Belt.  Grains are hoping to find some bullish news moving forward through this harvest season.  Nearby CME Soybean futures closed 16 higher today, moving higher off 10 year lows that were posted yesterday.  Expected rain in the North and South Plains over the weekend and in to next week will only slow harvest where heavier showers occur.

 

December Corn Futures: 3.4575… +0.0250

November Soybean Futures: 8.3000… +0.16

December Wheat Futures: 5.2250… +0.12

Kansas City Corn: 3.14… +0.02

Kansas City Soybeans: 7.80… +0.11

Kansas City Wheat: 5.26… +0.10

 

Financial Markets: 

Dow Jones Industrial Average: 26,405.76… +158.80

S & P 500: 2,907.95… +3.64

NASDAQ: 7,950.04… -6.07

U.S. Dollar Index: 94.55… -0.06

Cotton (www.ams.usda.gov): 

October Cotton Futures: 79.63… +0.48

Milk (www.cmegroup.com): 

September Class III Milk Futures: 16.14… +0.01