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Sep
21
2018

Texas Daily Ag Market News Summary

Posted 6 years 67 days ago by Administrator Account

Daily Market Summary for September 21st

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:

Friday trading and demand has been moderate in Nebraska. Compared to last week live cash trades moved 1.00 lower from 110.00 to 110.50. The last reported dressed trade market was on Thursday with trades at 175.00. Thus far for Friday in Kansas and the Western Cornbelt trading has been limited on light to moderate demand. In the Texas Panhandle and Colorado trading has been at a standstill. Not enough trades in the feeding regions for a full market trend. Last week in the Southern Plains live cash trades moved at 111.00. In Colorado live cash trades moved from 111.00 to 111.50. For the prior week in the Western Cornbelt live cash trades moved mostly at 110.00 and dressed cash trades moved from 172.00 to 175.00.

Negotiated Sales:

Confirmed: 19,694 Week Ago: 12,783 Year Ago: 46,718

Formula Net - Dressed Steers & Heifers

Head count priced today: 20,300

Weighted avg weight: 877.00

Weighted avg net price: 175.95

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Thursday saw no new trade to report. This week dressed bids have been reported from 242.00-246.00 delivered. Bids are 4.00 higher than the previous week. Buyers were indicating cattle that they bought this week would be lifted in 3-4 weeks. Tentatively cash to futures basis levels did strengthen this week.

Livestock Slaughter under Federal Inspection:

CATTLE CALVES HOGS SHEEP

Friday (est 119,000 2,000 442,000 7,000

Week ago (est) 119,000 2,000 402,000 7,000

Year ago (act) 115,000 3,000 450,000 5,000

Week to date (est) 592,000 10,000 2,151,000 40,000

Last Week (est) 595,000 10,000 2,151,000 38,000

Last Year (act) 579,000 10,000 2,267,000 35,000

Saturday (est 65,000 0 190,000 1,000

Week ago (est) 57,000 0 164,000 0

Year ago (act) 59,000 0 229,000 1,000

Week to date (est) 657,000 10,000 2,341,000 41,000

Last Week (est) 652,000 10,000 2,315,000 38,000

Last Year* (act) 638,000 11,000 2,496,000 37,000

2018 YTD 23,654,00 394,000 88,184,000 1,438,000

2017 *YTD 23,030,00 362,000 86,158,000 1,395,000

Percent change +2.7% +8.7% +2.4% + 3.1%

Boxed Beef:

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

Cutout Values... Choice Select

Current Cutout Values: 204.80 194.71

Change from prior day: +0.28 -0.20

Choice/Select spread: +10.90

Futures Summary:

October Live Cattle Futures: 113.07… +0.62

December Live Cattle Futures: 118.45… +0.55

February Live Cattle Futures: 122.25… +0.65

September Feeder Cattle Futures: 156.95… +1.28

October Feeder Cattle Futures: 158.07… +0.80

November Feeder Cattle Futures: 157.80… +0.65

CME Feeder Cattle Index: 156.29… +1.83

October Hog Futures: 60.30… -0.95

Nearby Crude Oil Futures Contract: 70.78… +0.46

National Grain Market Summary:

Compared to last week, cash bids for wheat and soybeans were higher, while corn and sorghum were mixed. This week's markets have been influenced by international trade news. The U.S. and China have both announced more tariffs in the ongoing trade disputes with each other. There have also been rumors of Argentina increasing export taxes on their own corn farmers as well as them purchasing U.S. soybeans and selling them to China which has supported the soy complex this week. USDA said last week's export sales and shipments of corn totaled 54.5 million bushels (mb) and 42.4 mb respectively, a bullish combination that has total commitments up 50% from a year ago early in 2018-19. Soybeans totaled 33.7 mb and 29.4 mb, putting total commitments down 7% from a year ago after almost two weeks in 2018-19. Wheat totaled 17.2 mb and 11.6 mb respectively, keeping total wheat shipments down 31% in 2018-19 from a year ago. Wheat was 10 to 56 1/2 cents higher. Corn was from 4 cents lower to 2 cents higher. Sorghum was from 15 cents lower to 3 cents higher. Soybeans were 12 to 25 cents higher.