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Sep
20
2018

Texas Daily Ag Market News Summary

Posted 6 years 68 days ago by Administrator Account

Daily Market Summary for September 20th

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:

Thursday in Nebraska negotiated cash trading has been slow on light to moderate demand. A few dressed trades have moved at 175.00. In the Western Cornbelt negotiated cash trading has been limited on very light demand. In the Southern Plains and Colorado negotiate cash trading has been at a standstill. Not enough trades for a full market trend in any major feeding region. 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: 15,031 Week Ago: 743 Year Ago: 45

Formula Net - Dressed Steers & Heifers

Head count priced today: 18,400

Weighted avg weight: 884.00

Weighted avg net price: 176.53

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Wednesday saw no new trade to report but the market tone is sounding stronger. There have been rumblings dressed bids are in the mid 240's on a delivered basis. Bids are a couple dollars higher than last week.

Livestock Slaughter under Federal Inspection:

CATTLE CALVES HOGS SHEEP

Thursday (est 120,000 2,000 437,000 8,000

Week ago (est) 119,000 2,000 411,000 8,000

Year ago (act) 118,000 1,000 458,000 7,000

Week to date (est) 473,000 8,000 1,709,000 33,000

Last Week (est) 476,000 8,000 1,749,000 31,000

Last Year (act) 464,000 7,000 1,817,000 30,000

Boxed Beef:

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

Cutout Values... Choice Select

Current Cutout Values: 204.52 194.91

Change from prior day: +0.27 +0.73

Choice/Select spread: +9.61

Futures Summary:

CME Feeder Cattle Index: 154.46… +1.38

October Live Cattle Futures: 112.45… -0.65

December Live Cattle Futures: 117.90… -0.07

February Live Cattle Futures: 121.60… -0.25

September Feeder Cattle Futures: 155.67… +0.15

October Feeder Cattle Futures: 157.27… -0.60

November Feeder Cattle Futures: 157.15… -0.57

October Hog Futures: 61.25… +1.25

Nearby Crude Oil Futures Contract: 70.80… -0.32

National Grain Market Summary:

Compared to yesterday, cash bids for wheat, corn, sorghum, and soybeans were mostly higher. Today’s market was supported by rumors of the Argentine government potentially raising export taxes on their own corn farmers. Rumors also surfaced that Argentina bought 15 cargoes of US soybeans and in turn sold 15 cargoes to China, supporting the soybean complex.