Oct 04 2018

Texas Daily Ag Market News Summary Posted 6 years 54 days ago by Administrator Account

Daily Market Summary for October 4th  

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 in Nebraska negotiated cash trading has been slow on light demand. Compared to the bulk of last week dressed trades moved 1.00 higher at 175.00. Not enough live trades for a market trend. Last week live trades were from 110.50-111.00. Thus far for Thursday in the Southern Plains and Colorado negotiated cash trading has been at a standstill. Last week in the Southern Plains and Colorado live cash trades moved at 111.00. So far for Thursday in the Western Cornbelt negotiated cash trading has been limited on light to moderate demand. Not enough trades in any price range for a full market trend. Last week, in the Western Cornbelt, live cash trades moved from 109.00-112.00 and dressed cash trades moved from 173.00-174.00.

 

Negotiated Sales:

Confirmed: 17,302    Week Ago: 15,327    Year Ago: 379

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 30,000

Weighted avg weight:       914.00

Weighted avg net price:    177.13

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales no new trade to report but live bids have been reported in the low 150's, bids are a couple dollars higher than last week's weighted average price. There have been rumblings dressed bids are in the upper 240's and would be mostly steady with last week.

 

Livestock Slaughter under Federal Inspection:                                  

                                 Cattle        Calves   Hogs          Sheep

Thursday (est           120,000    2,000      470,000      8,000

Week ago (est)        120,000    2,000      469,000      8,000

Year ago (act)          118,000    1,000      463,000      8,000

Week to date (est) 478,000    8,000   1,873,000    34,000

Last Week (est)       478,000    8,000   1,883,000    32,000

Last Year (act)         462,000    7,000   1,825,000    32,000

 

Boxed Beef: 

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

 

Cutout Values...              Choice       Select

Current Cutout Values:    203.86     191.98

Change from prior day:       -0.56        -0.32

Choice/Select spread:       +11.88

 

Futures: 

October Live Cattle Futures: 113.62… +0.42

December Live Cattle Futures: 118.37… -0.03

February Live Cattle Futures: 122.57… -0.18

October Feeder Cattle Futures: 156.97… -0.90

November Feeder Cattle Futures: 157.75… -1.02

January Feeder Cattle Futures: 154.50… -1.00

 

CME Feeder Cattle Index: 157.81… -0.03

October Hog Futures: 67.50… +0.03

Nearby Crude Oil Futures Contract: 74.33… -2.08

 

National Grain Market Summary:

Compared to yesterday, cash bids for wheat and corn were mostly higher, while sorghum and soybeans were mixed.  USDA said last week's export sales and shipments of corn totaled 56.3 million bushels (mb) and 55.4 mb respectively, another bullish week that has total corn shipments up 50% in 2018-19 from a year ago.  Last week's sales and shipments of soybeans totaled 55.9 mb and 26.5 mb respectively.  Total shipment pace remains bearish however, down 23% in 2018-19 from a year ago.  Last week's export sales and shipments of wheat totaled 16.0 mb and 11.7 mb respectively, another bearish showing that has total shipments down 31% in 2018-19 from a year ago.

 

December Corn Futures: 3.6750… +0.0275

November Soybean Futures: 8.5925… -0.0225

December Wheat Futures: 5.1800… +0.0275

Kansas City Corn: 3.18… +0.03

Kansas City Soybeans: 8.39… -0.02

Kansas City Wheat: 5.22… +0.03

 

Financial Markets: 

Dow Jones Industrial Average: 26,627.48… -200.91

S & P 500: 2,901.60… -23.91

NASDAQ: 7,879.51… -145.58

U.S. Dollar Index: 95.76… -0.23

Cotton (www.ams.usda.gov): 

October Cotton Futures: 76.39… -0.46

Milk (www.cmegroup.com): 

October Class III Milk Futures: 15.82…+0.01