Sep 28 2018

Texas Daily Ag Market News Summary Posted 6 years 60 days ago by Administrator Account

Daily Market Summary for September 28th 

 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:  

Thus far Friday, negotiated cash trade and demand was moderate in the Southern and Northern Plains. Compared to last week in the Southern Plains, live purchases traded steady at 111.00. Compared to Thursday in Nebraska, live purchases traded .50 higher at 111.00. A limited amount of dressed purchases traded unevenly steady compared to Thursday from 173.00-175.00, bulk at 174.00. Compared to last week in Colorado, live purchases traded steady to .50 higher at 111.00. Trade was light on light to moderate demand in the Western Cornbelt. Not enough purchases for an adequate market test. The latest established market was on Thursday with live purchases at 110.00 and dressed purchases from 173.00-175.00, bulk at 174.00.

 

Negotiated Sales:

Confirmed: 46,392    Week Ago: 19,694    Year Ago: 40,280

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 21,800

Weighted avg weight:        855.00

Weighted avg net price:    176.18

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Thursday saw light clean up trade with prices fully steady with Wednesday. For the week, weighted average prices are around $148.00/cwt and generally $2/cwt higher than last week. Heavy cattle were once again offered on the showlist. The majority of dressed sales this week were reported from $246-249/cwt delivered.

 

Livestock Slaughter under Federal Inspection:                                  

                                  Cattle        Calves       Hogs           Sheep

Friday (est                119,000      2,000       457,000     7,000

Week ago (est)        119,000      2,000       442,000     7,000

Year ago (act)          114,000      3,000       452,000     6,000

Week to date (est) 597,000    10,000    2,340,000   39,000

Last Week (est)       592,000   10,000    2,151,000    40,000

Last Year (act)         587,000    10,000    2,290,000   37,000

 

Saturday (est            53,000        0              228,000     1,000

Week ago (est)         65,000        0              190,000     1,000

Year ago (act)           61,000        0              238,000         0

Week to date (est) 650,000   10,000     2,568,000    40,000

Last Week (est)      657,000   10,000     2,341,000     41,000

Last Year* (act)      648,000   10,000     2,528,000     37,000

2018 YTD             24,309,00 406,000  90,760,000 1,477,000

2017 *YTD          23,678,00 373,000  88,686,000  1,432,000

Percent change        +2.7%     +8.9%        +2.3%          +3.1%

 

Boxed Beef: 

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

 

Cutout Values...              Choice       Select

Current Cutout Values:    203.88     193.44

Change from prior day:      -0.83         +0.88

Choice/Select spread:      +10.44

 

Futures: 

October Live Cattle Futures: 113.45… +0.23

December Live Cattle Futures: 118.85… +0.28

February Live Cattle Futures: 122.80… +0.25

October Feeder Cattle Futures: 158.17… +0.32

November Feeder Cattle Futures: 158.05… +0.43

January Feeder Cattle Futures: 154.65… +0.15

 

CME Feeder Cattle Index: 156.89… -1.24

October Hog Futures: 62.17… +0.87

Nearby Crude Oil Futures Contract: 73.25… +1.13

 

National Grain Market Summary:

Compared to last week, cash bids for corn, sorghum, and soybeans were higher, while wheat was mixed.  Weather this week has plagued harvest and the outlook for the coming week is uneven at best with rain chances across most of the midwest.  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.  Last week's export sales and shipments of soybeans 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.  Wheat was from 11 cents lower to 13 cents higher.  Corn was a 1/4 to 19 1/4 cents higher. Sorghum was 22 cents higher.  Soybeans were 4 3/4 to 34 3/4 cents higher.

 

December Corn Futures: 3.5625… -0.0825

November Soybean Futures: 8.4550… -0.0950

December Wheat Futures: 5.0900… -0.0400

Kansas City Corn: 3.214… -0.07

Kansas City Soybeans: 8.25… -0.10

Kansas City Wheat: 5.11… -0.06

 

Financial Markets: 

Dow Jones Industrial Average: 26,458.17… +18.24

S & P 500: 2,913.93… -0.08

NASDAQ: 8,046.35… +4.38

U.S. Dollar Index: 95.16… +0.17

Cotton (www.ams.usda.gov): 

October Cotton Futures: 76.76… -1.36

Milk (www.cmegroup.com): 

September Class III Milk Futures: 16.11…+/-0.00