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Sep
26
2018

Texas Daily Ag Market News Summary

Posted 6 years 62 days ago by Administrator Account

Daily Market Summary for September 26th

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:

Wednesday negotiated cash trade was limited on light to moderate demand in Nebraska and the Western Cornbelt. However not enough purchases in those feeding regions for an adequate market test. Trade was at a standstill in the Southern Plains and Colorado. On Tuesday in Nebraska and the Western Cornbelt, early live purchases traded mostly at 110.50. The latest established dressed market in both regions was last week, mostly at 175.00. The latest established market in the Southern Plains was last week with live purchases at 111.00. Last week in Colorado, live purchases traded from 110.50-111.00 on a light test.

Negotiated Sales:

Confirmed: 1,608 Week Ago: 516 Year Ago: 68

Formula Net - Dressed Steers & Heifers

Head count priced today: 26,200

Weighted avg weight: 859.00

Weighted avg net price: 177.65

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Tuesday saw no new trade to report but, trade could start to develop today. Packers continue to slaughter fed cattle at a higher rate than a year ago which has supported the local market. Last week’s cash to futures basis was slightly positive and technical price levels are fully steady with last week. Feedlots have increased their cash prices as supplies are expected to tighten moving forward.

Livestock Slaughter under Federal Inspection:

CATTLE CALVES HOGS SHEEP

Wednesday (est 119,000 2,000 470,000 7,000

Week ago (est) 119,000 2,000 434,000 7,000

Year ago (act) 119,000 2,000 456,000 7,000

Week to date (est) 358,000 6,000 1,414,000 24,000

Last Week (est) 353,000 6,000 1,272,000 25,000

Last Year (act) 355,000 6,000 1,377,000 23,000

Boxed Beef:

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

Cutout Values... Choice Select

Current Cutout Values: 204.85 192.95

Change from prior day: -0.88 -1.92

Choice/Select spread: +11.90

Futures Summary:

October Live Cattle Futures: 113.87… +1.52

December Live Cattle Futures: 118.85… +1.65

February Live Cattle Futures: 122.87… +1.32

September Feeder Cattle Futures: 157.05… +0.43

October Feeder Cattle Futures: 158.30… +1.83

November Feeder Cattle Futures: 158.25… +1.83

CME Feeder Cattle Index: 158.04… +0.21

October Hog Futures: 62.20… -0.22

Nearby Crude Oil Futures Contract: 71.57… -0.71

National Grain Market Summary:

Compared to yesterday, cash bids for wheat, corn, and soybeans were mixed, while sorghum was lower. Wednesday saw a light trading day in corn and soybeans. The weather forecast is dry for the next few days in the Midwest, but becomes erratic next week which could hamper harvest plans. Parts of the plains received mostly welcome moisture Wednesday ahead of the coming winter months.