Oct 17 2018

Texas Daily Ag Market News Summary Posted 6 years 41 days ago by Administrator Account

Daily Market Summary for October 17th  

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:  

Wednesday in Nebraska trading has been slow to moderate with moderate demand. Compared to last week live cash trades moved steady to 2.00 lower from 109.00 to 111.00. Dressed cash trades moved at 174.00, which is steady with the last reported market on Tuesday. So far for Wednesday in the Western Cornbelt trading has been slow on moderate demand. Compared to last week live cash trades moved steady to 1.00 higher from 109.00 to 110.00. Thus far for the week dressed cash trades have moved steady to 1.00 lower from 173.00 to 174.00. Thus far for Wednesday in the Southern Plains and Colorado trading has been inactive on very light demand. Not enough trades for a market trend. Last week in these feeding regions live cash trades moved at 111.00.

 

Negotiated Sales:

Confirmed: 25,781    Week Ago: 9,771    Year Ago: 5,384

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 14,400

Weighted avg weight:       874.00

Weighted avg net price:    176.57

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Tuesday saw no new trade to report but there is a chance scattered trade could develop by this afternoon. Technical price levels have eased since Monday. Canfax released its October 1st cattle on feed report last Friday. September placements were 5% larger than last year while fed cattle marketings were down 1%. Cattle on feed inventories remain larger than last year and the five-year average. 

 

Livestock Slaughter under Federal Inspection:                                  

                                 Cattle        Calves    Hogs          Sheep

Wednesday (est     118,000    2,000      477,000      7,000

Week ago (est)       119,000    2,000      465,000      7,000

Year ago (act)          118,000    2,000      463,000      7,000

Week to date (est) 352,000    6,000   1,413,000    23,000

Last Week (est)      351,000    6,000   1,389,000    24,000

Last Year (act)        347,000    6,000   1,361,000    24,000

 

Boxed Beef: 

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

 

Cutout Values...              Choice       Select

Current Cutout Values:    204.56     191.19

Change from prior day:      -0.05        -1.36

Choice/Select spread:       +13.37

 

Futures: 

October Live Cattle Futures: 112.93… +0.28

December Live Cattle Futures: 117.37… -0.40

February Live Cattle Futures: 121.47… -0.35

October Feeder Cattle Futures: 154.07… +0.05

November Feeder Cattle Futures: 153.35… -0.87

January Feeder Cattle Futures: 149.07… -0.88

 

CME Feeder Cattle Index: 155.14… -0.22

December Hog Futures: 54.70… -2.17

Nearby Crude Oil Futures Contract: 69.75… -2.17

 

National Grain Market Summary:

Compared to yesterday, cash bids for wheat and sorghum were lower, corn and soybeans were higher.  Ethanol production for last week totaled 1.01 million barrels per day, just under 30,000 barrels less than the week prior.  Wheat was 3 to 8 cents lower.  Corn was 1 to 5 cents higher.  Soybeans were 1 to 3 cents higher.  Sorghum was 1 3/4 cents lower.

 

December Corn Futures: 3.7425... -0.0100

November Soybean Futures: 8.8575... +0.0100

December Wheat Futures: 5.1750... -0.0600

Kansas City Corn: 3.54… +0.02

Kansas City Soybeans: 8.51… +0.01

Kansas City Wheat: 5.21… -0.07

 

Financial Markets: 

Dow Jones Industrial Average: 25,706.68… -91.74

S & P 500: 2,809.21… -0.71

NASDAQ: 7,642.70… -2.79

U.S. Dollar Index: 95.58… +0.49

Cotton (www.ams.usda.gov): 

December Cotton Futures: 77.92… -0.41

Milk (www.cmegroup.com): 

October Class III Milk Futures: 15.60… -0.02