Sep 27 2018

Texas Daily Ag Market News Summary Posted 6 years 61 days ago by Administrator Account

Daily Market Summary for September 27th  

 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:  

Thursday negotiated cash trade was light on light to moderate demand in Nebraska and the Western Cornbelt. Compared to last week, dressed purchases in both regions traded 1.00 lower at 174.00. In the Western Cornbelt compared to Tuesday live purchases traded mostly .50 lower at 110.00. Trade was mostly inactive on light demand in the Southern Plains and Colorado. On Tuesday in Nebraska, early live purchases traded mostly at 110.50. 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: 15,327    Week Ago: 15,031    Year Ago: 5,039

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 26,100

Weighted avg weight:       892.00

Weighted avg net price:    178.36

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Wednesday saw light dressed trade with prices fully steady to $3.00/cwt higher than last week. Additional Wednesday reports are expected to trickle in and follow up trade should continue this afternoon. Canadian fed cattle/cow exports to the US for the week ending September 15th totaled 9,463 head and was the largest weekly total so far this year.

 

Livestock Slaughter under Federal Inspection:                                  

                                  Cattle      Calves    Hogs         Sheep

Thursday (est         120,000    2,000     469,000     8,000

Week ago (est)       120,000    2,000     437,000     8,000

Year ago (act)         118,000    1,000     461,000     8,000

Week to date (est) 478,000    8,000   1,883,000    32,000

Last Week (est)       473,000    8,000   1,709,000    33,000

Last Year (act)         473,000    7,000   1,838,000    31,000

 

Boxed Beef: 

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

 

Cutout Values...              Choice       Select

Current Cutout Values:    204.71     192.56

Change from prior day:      -0.14         -0.39

Choice/Select spread:      +12.15

 

Futures: 

October Live Cattle Futures: 113.22… -0.65

December Live Cattle Futures: 118.57… -0.28

February Live Cattle Futures: 122.55… -0.32

September Feeder Cattle Futures: 157.30… +0.25

October Feeder Cattle Futures: 157.85… -0.45

November Feeder Cattle Futures: 157.62… -0.63

 

CME Feeder Cattle Index: 158.13… +0.09

October Hog Futures: 61.30… -0.90

Nearby Crude Oil Futures Contract: 72.12… +0.55

 

National Grain Market Summary:

Compared to yesterday, cash bids for corn, sorghum, and soybeans were mostly higher, while wheat was mixed.  USDA said sales and shipments of corn totaled 67.4 million and 53.5 million bushels, respectively, last week, putting total commitments up 61% and actual shipments up 47% in 2018-19 from a year ago. Soybean export sales and shipments totaled 32.0 million and 30.1 million bushels, respectively, putting total commitments down 16% from a year ago and total shipments down 18% from a year ago.  Last week, 24.1 million and 17.8 million bushels of export sales and shipments of wheat helped total shipments improve to down 29% in 2018-19 from a year ago.

 

December Corn Futures: 3.6475… +0.0175

November Soybean Futures: 8.5500… +0.0500

December Wheat Futures: 5.1300… -0.0450

Kansas City Corn: 3.21… +0.02

Kansas City Soybeans: 8.35… +0.05

Kansas City Wheat: 5.17… -0.04

 

Financial Markets: 

Dow Jones Industrial Average: 26,439.93… +54.65

S & P 500: 2,914.01… +8.04

NASDAQ: 8,041.97… +51.60

U.S. Dollar Index: 94.92… +0.64

Cotton (www.ams.usda.gov): 

October Cotton Futures: 78.12… -0.88

Milk (www.cmegroup.com): 

September Class III Milk Futures: 16.11… -0.03