Oct 18 2018

Texas Daily Ag Market News Summary Posted 6 years 40 days ago by Administrator Account

Daily Market Summary for October 18th  

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 trading has been limited on light to moderate demand in all major feeding regions. However, not enough trades for a full market trend in any feeding regions. Last week in the Southern Plains and Colorado live cash trades moved at 111.00. In Nebraska the last reported market was on Wednesday with live cash trades from 109.00-111.00 and dressed cash trades at 174.00. In the Western Cornbelt the last reported market was on Wednesday with live cash trades from 109.00-110.00 and dressed cash trades from 173.00-174.00.

 

Negotiated Sales:

Confirmed: 11,216    Week Ago: 44,729    Year Ago: 2,763

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 13,900

Weighted avg weight:       870.00

Weighted avg net price:    176.56

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Wednesday saw no new trade to report. Live bids have been reported on either side of 150.00. Bids are steady to 4.00 lower than the previous week. Dressed bids have been reported at 252.00 delivered. Dressed bids are 2.00-3.00 lower than last week. Packers are trying to buy cattle cheaper while cattle feeders are looking for steady money. Peak fed cattle supplies are behind us and market ready supplies should continue to moderate moving forward.

 

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 higher to sharply higher on moderate to good demand and moderate offerings. Select and Choice chuck, round, and loin cuts steady to firm. Choice rib cuts higher while Select steady. Beef trimmings unevenly steady on moderate to good demand and heavy offerings.

 

Cutout Values...              Choice       Select

Current Cutout Values:    206.82     192.35

Change from prior day:      +2.26       +1.16

Choice/Select spread:      +14.47

 

Futures: 

October Live Cattle Futures: 113.07… +0.14

December Live Cattle Futures: 117.17… -0.20

February Live Cattle Futures: 121.37… -0.10

October Feeder Cattle Futures: 155.25… +1.18

November Feeder Cattle Futures: 154.42… +1.07

January Feeder Cattle Futures: 149.42… +0.35

 

CME Feeder Cattle Index: 155.50… +0.36

December Hog Futures: 52.30… -2.40

Nearby Crude Oil Futures Contract: 68.65… -1.10

 

National Grain Market Summary:

Compared to yesterday, cash bids for wheat, corn, sorghum, and soybeans were mostly lower.  USDA said last week's corn sales totaled 15.1 million bushels, the lowest so far in 2018-19, while 43.3 million bushels of corn shipments brought the 2018-19 total to 80% above a year ago.  Soybean export sales and shipments totaled 10.8 and 42.5 million bushels respectively, putting total commitments down 21% from a year ago.  Last week's wheat export sales and shipments totaled 17.5 and 18.0 million bushels respectively, with total shipments down 25% from a year ago.

 

December Corn Futures: 3.7075… -0.0350

November Soybean Futures: 8.6350… -0.2225

December Wheat Futures: 5.1300… -0.0450

Kansas City Corn: 3.51… -0.03

Kansas City Soybeans: 8.29… -0.22

Kansas City Wheat: 5.15… -0.06

 

Financial Markets: 

Dow Jones Industrial Average: 25,382.17… -324.51

S & P 500: 2,769.20… -40.01

NASDAQ: 7,485.14… -157.56

U.S. Dollar Index: 95.96… +0.30

Cotton (www.ams.usda.gov): 

December Cotton Futures: 78.05… +0.13

Milk (www.cmegroup.com): 

October Class III Milk Futures: 15.55… -0.05