Oct 15 2018

Texas Daily Ag Market News Summary Posted 6 years 43 days ago by Administrator Account

Daily Market Summary for October 15th...

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:  

Monday trading in the Southern and Northern Plains has been at a standstill. Last week in these feeding regions live cash trades moved at 111.00 and dressed cast trades, in Nebraska, moved at 174.00. So for Monday in the Western Cornbelt trading has been inactive on very light demand. Not enough trades for a market trend. Last week live cash trades ranged from 108.00- 110.00 and dressed cash trades moved at 174.00.

 

Negotiated Sales:

Confirmed: 78    Week Ago: 76    Year Ago: 561

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 48,500

Weighted avg weight:       867.00

Weighted avg net price:    177.10

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales last week saw moderate trade develop with weighted average steer and heifer prices closing the week at 152.25 and 151.25 respectively. Prices are 1.00 higher than the previous week. Looking at the non-fed market butcher cows traded 2.00-3.00 lower through commercial auction facilities last week. Butcher cow prices are trading 3.00-6.00 lower than last year while fed prices are 14.00-15.00 higher.

 

Livestock Slaughter under Federal Inspection:                                  

                                 Cattle        Calves    Hogs          Sheep

Monday (est           119,000    2,000     459,000     8,000

Week ago (est)       114,000    2,000     473,000     8,000

Year ago (act)         111,000    2,000     445,000     8,000

 

Boxed Beef: 

Boxed beef cutout values sharply higher on Choice and weak on Select on light to moderate demand and offerings. Select and Choice rib cuts steady while loin cuts steady to firm. Choice chuck and round cuts firm to higher while Select weak. Beef trimmings not fully established.

 

Cutout Values...              Choice       Select

Current Cutout Values:    204.80     191.89

Change from prior day:      +2.09        -0.39

Choice/Select spread:       +12.91

 

Futures: 

October Live Cattle Futures: 113.37… +1.05

December Live Cattle Futures: 117.97… +1.80

February Live Cattle Futures: 121.70… +1.30

October Feeder Cattle Futures: 155.10… +0.40

November Feeder Cattle Futures: 155.22… +0.60

January Feeder Cattle Futures: 150.52… +0.77

 

CME Feeder Cattle Index: 156.26… -1.22

December Hog Futures: 56.75… +1.75

Nearby Crude Oil Futures Contract: 71.78… +0.44

 

National Grain Market Summary:

Compared to Friday, cash bids for corn, sorghum, wheat, and soybeans were mostly higher.  Rain and snow again prevented much progress for harvest or planting the past week, but weather in the upcoming week looks favorable.  The moisture has also caused concern for what crop quality will be like.  USDA said 39.2 million bushels (mb) of corn were inspected for export last week, putting total inspections up 75% from a year ago.  42.5 mb of soybeans were inspected for export, putting total inspections down 35% in 2018-19 from a year ago.  16.6 mb of wheat were inspected for export, another bearish showing that has total wheat inspections down 27% in 2018-19 from a year ago.

 

December Corn Futures: 3.7825… +0.0450

November Soybean Futures: 8.9150… +0.2400

December Wheat Futures: 5.2500… +0.0775

Kansas City Corn: 3.55… +0.05

Kansas City Soybeans: 8.57… +0.24

Kansas City Wheat: 5.32… +0.08

 

Financial Markets: 

Dow Jones Industrial Average: 25,250.55… -89.44

S & P 500: 2,750.79… -16.30

NASDAQ: 7,430.74… -66.15

U.S. Dollar Index: 95.09… -0.25

Cotton (www.ams.usda.gov): 

December Cotton Futures: 78.72… +0.35

Milk (www.cmegroup.com): 

October Class III Milk Futures: 15.60… -0.01