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Sep
24
2018

Texas Daily Ag Market News Summary

Posted 6 years 64 days ago by Administrator Account

Daily Market Summary for September 24th

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:

Monday negotiated cash trade was mostly inactive on light demand in all feeding regions. The latest established market was last week with live purchases in the Southern Plains at 111.00. In Nebraska last week, live purchases traded mostly at 110.50 with dressed purchase at 175.00. Last week in Colorado, live purchases traded from 110.50-111.00 on a light test. In the Western Cornbelt last week, live purchases traded mostly at 110.00 with dressed purchases mostly at 175.00.

Negotiated Sales:

Confirmed: 338 Week Ago: 3,528 Year Ago: 760

Formula Net - Dressed Steers & Heifers

Head count priced today: 48,900

Weighted avg weight: 863.00

Weighted avg net price: 175.80

Alberta Beef Producers Daily Report:

Alberta direct cattle sales last week saw light trade develop weighted average steer and heifer prices closing the week at 146.25 and 145.50 respectively. Prices are 3.00-4.00 higher than the previous week. Fed prices are now at their highest point in seven weeks. Looking at the non-fed market butcher cows traded 1.00-2.00 lower through commercial auction facilities last week and established new annual lows.

Livestock Slaughter under Federal Inspection:

CATTLE CALVES HOGS SHEEP

FMonday (est 119,000 2,000 472,000 9,000

Week ago (est) 114,000 2,000 416,000 9,000

Year ago (act) 117,000 2,000 459,000 8,000

Boxed Beef:

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

Cutout Values... Choice Select

Current Cutout Values: 206.16 195.39

Change from prior day: +1.36 +0.68

Choice/Select spread: +10.77

Futures Summary:

October Live Cattle Futures: 112.17… -0.90

December Live Cattle Futures: 117.00… -1.45

February Live Cattle Futures: 121.30… -0.95

September Feeder Cattle Futures: 156.45… -0.50

October Feeder Cattle Futures: 156.30… -1.77

November Feeder Cattle Futures: 155.92… -1.88

CME Feeder Cattle Index: 157.30… +1.01

October Hog Futures: 61.00… +0.70

Nearby Crude Oil Futures Contract: 72.08… +1.30

National Grain Market Summary:

Compared to Friday, cash bids for wheat, corn, and sorghum are mostly higher, while soybeans were lower. Storms and flooding concerns have pushed the corn market higher for the fourth consecutive day with help from a strong export market. Soybeans have also gained support from the weather, but unlike corn, it has not gotten additional support from exports. The lower world wheat production has continued to provide support in wheat markets.