Oct 25 2018

Texas Daily Ag Market News Summary Posted 6 years 33 days ago by Administrator Account

Daily Market Summary for October 25th  

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 negotiated cash trade was mostly inactive on light to moderate demand in all feeding regions. The latest established market in the Western Cornbelt was on Tuesday, with early live 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: 1,136    Week Ago: 11,216    Year Ago: 1,067

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 20,500

Weighted avg weight:       867.00

Weighted avg net price:    177.06

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Wednesday saw no new trade to report. Live bids have been reported from 147.00-149.00 FOB lot. Bids are 1.00-3.00 lower than last week's weighted average price. Dressed bids have been reported in the mid to upper 240's on a delivered basis. Lower bids are not motivating producers to market cattle. 

 

Livestock Slaughter under Federal Inspection:                                  

                                 Cattle        Calves    Hogs          Sheep

Thursday (est          119,000    2,000      475,000      7,000

Week ago (est)        115,000    2,000      477,000      8,000

Year ago (act)          119,000    1,000      458,000      8,000

Week to date (est) 475,000    8,000   1,903,000    28,000

Last Week (est)       467,000    8,000   1,890,000    31,000

Last Year (act)         468,000    7,000   1,858,000    31,000

 

Boxed Beef: 

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

 

Cutout Values...              Choice       Select

Current Cutout Values:    213.10     198.31

Change from prior day:      +1.71       +0.49

Choice/Select spread:      +14.79

 

Futures: 

October Live Cattle Futures: 113.35… +0.08

December Live Cattle Futures: 117.07… -1.28

February Live Cattle Futures: 122.22… -0.55

October Feeder Cattle Futures: 153.97… -0.65

November Feeder Cattle Futures: 153.95… -1.97

January Feeder Cattle Futures: 149.05… -2.30

 

CME Feeder Cattle Index: 154.93

December Hog Futures: 56.77… -0.75

Nearby Crude Oil Futures Contract: 67.33… +0.51

 

National Grain Market Summary:

Compared to yesterday, cash bids for grains were lower.  Last week’s export sales and shipments totaled 13.8 million and 47.8 million bushels of corn, 7.8 million and 40.8 million bushels of soybeans, and 16.3 million and 14.7 million bushels of wheat. Export sales and shipments figures could be viewed as bearish for all three commodities.

 

December Corn Futures: 3.6100… -0.0725

November Soybean Futures: 8.4175… -0.0850

December Wheat Futures: 4.8725… -0.1225

Kansas City Corn: 3.439… -0.07

Kansas City Soybeans: 7.97… -0.08

Kansas City Wheat: 4.87… -0.10

 

Financial Markets: 

Dow Jones Industrial Average: 24,984.55… +401.13

S & P 500: 2,705.57… +49.47

NASDAQ: 7,318.34… +209.94

U.S. Dollar Index: 96.64… +0.27

Cotton (www.ams.usda.gov): 

December Cotton Futures: 77.68… +0.61

Milk (www.cmegroup.com): 

October Class III Milk Futures: 15.53… +0.03