Oct 19 2018

Texas Daily Ag Market News Summary Posted 6 years 39 days ago by Administrator Account

Daily Market Summary for October 19th    

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 trading has been very limited on light to moderate demand in all major feeding regions. Not enough trades in any price range for a full market trend. In the Southern Plains the last fully reported market was last week with live cash trades at 111.00. In Nebraska the last reported live cash trade market was on Thursday at 111.00. Wednesday was the last reported dressed cash trade market at 174.00. In Colorado Thursday was the last live cash trade market at 111.00 and dressed cash trades at 175.00. In the Western Cornbelt Wednesday was the last reported live and dressed cash trade market from 109.00-110.00 and 173.00-174.00, respectively.

 

Negotiated Sales:

Confirmed: 8,372    Week Ago: 7,168    Year Ago: 42,896

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 19,500

Weighted avg weight:       851.00

Weighted avg net price:   176.11

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Thursday saw no new trade to report. Most of the dressed sales this week have been reported 253.00 delivered. Compared to the past couple of weeks sale volumes are shaping up rather light. Fed prices have exhausted their four week price rally as weighted average prices are looking 1.00 lower. With the fall calf run in full gear some producers were indicating they would like to sell some fed cattle to make space for new calves.

 

Livestock Slaughter under Federal Inspection:                                  

                                   Cattle        Calves    Hogs          Sheep

Friday (est                115,000     2,000        464,000          6,000

Week ago (est)        115,000     2,000        459,000          7,000

Year ago (act)          114,000     3,000        455,000          6,000

Week to date (est) 582,000   10,000     2,354,000        37,000

Last Week (est)       583,000   10,000     2,321,000        39,000

Last Year (act)         580,000   11,000     2,279,000        37,000

 

Saturday (est             43,000        0              235,000         1,000

Week ago (est)          56,000        0              168,000         0

Year ago (act)            53,000        0              188,000         0

Week to date (est) 625,000    10,000     2,589,000       38,000

Last Week (est)       639,000    10,000     2,489,000       39,000

Last Year* (act)       633,000    10,000     2,468,000       37,000

2018 YTD            26,207,000  442,000  98,322,000  1,588,000

2017 *YTD          25,570,000  402,000  96,185,000  1,542,000

Percent change       +2.5%       +9.9%         +2.2%          +3.0%

 

Boxed Beef: 

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

 

Cutout Values...              Choice       Select

Current Cutout Values:    207.93     194.24

Change from prior day:      +1.11       +1.89

Choice/Select spread:      +13.69

 

Futures: 

October Live Cattle Futures: 112.25… -0.82

December Live Cattle Futures: 116.77… -0.40

February Live Cattle Futures: 121.15… -0.22

October Feeder Cattle Futures: 154.65… -0.60

November Feeder Cattle Futures: 154.10… -0.32

January Feeder Cattle Futures: 148.75… -0.67

 

CME Feeder Cattle Index: 155.36… -0.14

December Hog Futures: 51.60… -0.70

Nearby Crude Oil Futures Contract: 69.12… +0.47

 

National Grain Market Summary:

Compared to last week, cash bids for wheat, corn, and sorghum were mixed, while soybeans were higher.  Weather this week has been favorable for harvest, but it has made its impact felt most of all in soybean quality.  Producers have expressed concerns of yield loss due to pods opening and dropping beans.  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.  Wheat was from 34 1/4 cents lower to 7 cents higher.  Corn was from a 1/2 cent lower to 9 1/2 cents higher.  Sorghum was from 3 cents lower to 3 cents higher.  Soybeans were 2 1/4 to 15 1/4 cents higher.

 

December Corn Futures: 3.6700… -0.0375

November Soybean Futures: 8.5675… -0.0675

December Wheat Futures: 5.1475… +0.0175

Kansas City Corn: 3.45… -0.06

Kansas City Soybeans: 8.10… -0.19

Kansas City Wheat: 5.16… +0.01

 

Financial Markets: 

Dow Jones Industrial Average: 25,443.94… +61.77

S & P 500: 2,767.94… -1.13

NASDAQ: 7,449.03… -36.11

U.S. Dollar Index: 95.75… -0.24

Cotton (www.ams.usda.gov): 

December Cotton Futures: 77.92… -0.13

Milk (www.cmegroup.com): 

October Class III Milk Futures: 15.55… +/-0.00