Oct 05 2018

Texas Daily Ag Market News Summary Posted 6 years 53 days ago by Administrator Account

Daily Market Summary for October 5th  

 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:  

Friday, in Nebraska, negotiated cash trading has been slow to moderate with moderate demand. Compared to the last reported market, on Thursday, live cash trades moved steady to 1.00 higher from 110.00 to 112.00 and dressed trades moved steady at 175.00. Thus far for Friday in the Southern Plains, Colorado and Iowa/Minnesota negotiated cash trading has been limited on light demand. Not enough trades in these regions for a full market trend. Thursday was the last fully reported market in Iowa/Minnesota with live cash trades mostly at 110.00 and dressed cash trades from 174.00 to 175.00. For the prior week In the Southern Plains and Colorado live cash trades moved at 111.00.

 

Negotiated Sales:

Confirmed: 16,516    Week Ago: 46,392    Year Ago: 1,505

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 16,700

Weighted avg weight:        851.00

Weighted avg net price:    175.93

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Thursday saw light trade develop with live sales on either side of 150.00. Sales are a couple dollars higher than last week's weighted average price. Fed prices are on track to average over 150.00, this would be the highest price seen since the second half of July. Higher prices week over week and stronger basis levels did encourage producers to market cattle.

 

Livestock Slaughter under Federal Inspection:                                  

                                   Cattle        Calves       Hogs            Sheep

Friday (est                108,000      2,000      461,000         7,000

Week ago (est)        119,000      2,000      457,000         7,000

Year ago (act)          112,000      3,000      460,000         5,000

Week to date (est)  586,000   10,000   2,322,000       41,000

Last Week (est)        597,000   10,000   2,340,000       39,000

Last Year (act)          574,000   10,000   2,285,000       37,000

 

Saturday (est             57,000        0             181,000         0

Week ago (est)          53,000        0             220,000         1,000

Year ago (act)            62,000        0             234,000         0

Week to date (est) 643,000    10,000    2,503,000        41,000

Last Week (est)       650,000    10,000    2,560,000        40,000

Last Year* (act)       636,000    10,000    2,519,000        37,000

2018 YTD              24,948,00  419,000  93,248,000  1,515,000

2017 *YTD            24,314,00  382,000  91,205,000  1,469,000

Percent change        +2.6%      +9.6%         +2.2%          +3.2%

 

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 firm while loin cuts lower. Beef trimmings sharply higher on moderate to fairly good demand and light to moderate offerings.

 

Cutout Values...              Choice       Select

Current Cutout Values:    203.25     191.74

Change from prior day:       -0.61        -0.24

Choice/Select spread:       +11.51

 

Futures: 

October Live Cattle Futures: 113.80… +0.18

December Live Cattle Futures: 118.15… -0.22

February Live Cattle Futures: 122.52… -0.05

October Feeder Cattle Futures: 157.77… +0.80

November Feeder Cattle Futures: 158.22… +0.47

January Feeder Cattle Futures: 154.37… -0.13

 

CME Feeder Cattle Index: 158.18… +0.37

October Hog Futures: 68.20… +0.70

Nearby Crude Oil Futures Contract: 74.34… +0.01

 

National Grain Market Summary:

Compared to last week, cash bids for corn and wheat were mixed, while soybeans and sorghum were higher.  Weather this season has plagued harvest so far.  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.  Soybeans' 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.  Wheat was from 1 cent lower to 35 cents higher.  Corn was from 3 1/4 cents lower to 9 3/4 cents higher.  Sorghum was 5 cents higher.  Soybeans were 4 1/4 to 9 1/4 cents higher.

 

December Corn Futures: 3.6825… +0.0075

November Soybean Futures: 8.6900… +0.0975

December Wheat Futures: 5.2100… +0.0300

Kansas City Corn: 3.20… +0.02

Kansas City Soybeans: 8.49… +0.10

Kansas City Wheat: 5.24… +0.02

 

Financial Markets: 

Dow Jones Industrial Average: 26,447.05… -180.43

S & P 500: 2,885.57… -16.03

NASDAQ: 7,788.45… -91.06

U.S. Dollar Index: 95.64… -0.12

Cotton (www.ams.usda.gov): 

October Cotton Futures: 76.49… +0.10

Milk (www.cmegroup.com): 

October Class III Milk Futures: 15.81…-0.01