Oct 22 2018

Texas Daily Ag Market News Summary Posted 6 years 36 days ago by Administrator Account

Daily Market Summary for October 22nd  

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, negotiated cash trade was mostly inactive on light demand in all feeding regions. The latest established market in the Texas Panhandle was two weeks ago with live purchases at 111.00. The latest established market in Kansas and the Northern Plains was last week with live purchases mostly at 111.00. Dressed purchases last week traded mostly at 174.00 in Nebraska and 175.00 in Colorado. In the Western Cornbelt last week live and dressed purchases traded mostly at 110.00 and 174.00, respectively.

 

Negotiated Sales:

Confirmed: 76    Week Ago: 78    Year Ago: 481

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 45,800

Weighted avg weight:       848.00

Weighted avg net price:   176.94

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales last week saw light trade develop with weighted average steer and heifer prices closing the week at 150.50 and 150.25 respectively. Prices are 1.00-2.00 lower than last week. Looking at the non-fed market butcher cows traded 1.00 lower through commercial auction facilities last week. Butcher cows did establish new annual lows. Compared to last year D1, D2 cow prices are 7.00 lower wile fed steer prices are 13.00 higher.

 

Livestock Slaughter under Federal Inspection:                                  

                                   Cattle        Calves    Hogs          Sheep

Monday (est             118,000    2,000     475,000     8,000

Week ago (est)         115,000    2,000     459,000     8,000

Year ago (act)           116,000    2,000     481,000     8,000

 

Boxed Beef: 

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

 

Cutout Values...              Choice       Select

Current Cutout Values:    209.28     197.66

Change from prior day:      +1.35       +3.42

Choice/Select spread:      +11.62

 

Futures: 

October Live Cattle Futures: 112.80… +0.55

December Live Cattle Futures: 118.07… +1.30

February Live Cattle Futures: 122.47… +1.32

October Feeder Cattle Futures: 155.65… +1.00

November Feeder Cattle Futures: 156.92… +2.82

January Feeder Cattle Futures: 151.72… +2.97

 

CME Feeder Cattle Index: 155.27... -0.09

December Hog Futures: 53.17… +1.57

Nearby Crude Oil Futures Contract: 69.17… +0.05

 

National Grain Market Summary:

Compared to Friday, corn and sorghum were higher, while wheat and soybeans were mixed mixed.  Dry weather across the Corn Belt last week and forecasts for dry weather a few days this week are leaving farmers with a window to get harvest moving along again.  This afternoon's Crop Progress report revealed corn harvest 2 percent above the five year average, while soybean harvest is 16 percent behind the 5 year average.

 

December Corn Futures: 3.6950… +0.0250

November Soybean Futures: 8.5850… +0.0175

December Wheat Futures: 5.0800… -0.0657

Kansas City Corn: 3.47… +0.02

Kansas City Soybeans: 8.13… +0.03

Kansas City Wheat: 5.08… -0.08

 

Financial Markets: 

Dow Jones Industrial Average: 25,317.41… -126.93

S & P 500: 2,755.88… -11.90

NASDAQ: 7,468.63… +19.60

U.S. Dollar Index: 96.01… +0.34

Cotton (www.ams.usda.gov): 

December Cotton Futures: 80.02… +2.10

Milk (www.cmegroup.com): 

October Class III Milk Futures: 15.53… -0.02