Oct 24 2018

Texas Daily Ag Market News Summary Posted 6 years 34 days ago by Administrator Account

Daily Market Summary for October 24th  

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 negotiated cash trade was mostly inactive on light to moderate demand in all feeding regions. The latest established live market in the Western Cornbelt was on Tuesday, with early purchases at 112.00. Last week dressed purchases traded mostly at 174.00. 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.

 

Negotiated Sales:

Confirmed: 1,661    Week Ago: 25,781    Year Ago: 300

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 20,600

Weighted avg weight:       843.00

Weighted avg net price:    178.13

 

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. Carry over volumes remain fairly large as quite a few cattle were passed last weeks. Cow slaughter volumes have been slow to increase. Tighter cow slaughter volumes means more hook space for fed cattle.

 

Livestock Slaughter under Federal Inspection:                                  

                                   Cattle        Calves    Hogs          Sheep

Wednesday (est      119,000    2,000      476,000      6,000

Week ago (est)        118,000    2,000      477,000      7,000

Year ago (act)          116,000    2,000      461,000      7,000

Week to date (est) 356,000    6,000   1,428,000    22,000

Last Week (est)       352,000    6,000   1,413,000    23,000

Last Year (act)         349,000    6,000   1,400,000    23,000

 

Boxed Beef: 

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

 

Cutout Values...              Choice       Select

Current Cutout Values:    211.39     197.82

Change from prior day:      +1.11       +0.96

Choice/Select spread:      +13.57

 

Futures: 

October Live Cattle Futures: 113.27… +0.50

December Live Cattle Futures: 118.35… +1.20

February Live Cattle Futures: 122.77… +0.85

October Feeder Cattle Futures: 154.62… -0.45

November Feeder Cattle Futures: 155.92… +0.05

January Feeder Cattle Futures: 151.35… +0.50

 

CME Feeder Cattle Index: 154.93… -0.13

December Hog Futures: 57.52… +3.00

Nearby Crude Oil Futures Contract: 66.82… +0.39

 

National Grain Market Summary:

Compared to yesterday, cash bids for wheat and corn were mixed, while soybeans and sorghum were lower.  Weather has been very cooperative this week for most of the U.S. for harvest with much of the same expected in upcoming forecasts. Planting hasn’t been as lucky as rain is working its way across the southwestern U.S. Plains.

 

December Corn Futures: 3.6825… -0.0200

November Soybean Futures: 8.5025… -0.0725

December Wheat Futures: 4.9950… -0.0950

Kansas City Corn: 3.46… -0.02

Kansas City Soybeans: 8.05… -0.07

Kansas City Wheat: 4.97… -0.10

 

Financial Markets: 

Dow Jones Industrial Average: 24,584.50… -606.93

S & P 500: 2,656.29… -84.39

NASDAQ: 7,108.40… -329.14

U.S. Dollar Index: 96.37… +0.42

Cotton (www.ams.usda.gov): 

December Cotton Futures: 77.07… -1.92

Milk (www.cmegroup.com): 

October Class III Milk Futures: 15.50… +/-0.00