Oct 29 2018

Texas Daily Ag Market News Summary Posted 6 years 29 days ago by Administrator Account

Daily Market Summary for October 29th  

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 in all major feeding regions negotiated cash trading has been at a standstill. Last week in the Texas Panhandle live trades moved at 115.00. In Kansas live trades moved mostly at 114.00 with a few up to 115.00. For the prior week in the Northern Plains live trades moved from 114.00-115.00 and dressed trades, in Nebraska, moved at 180.00. For the previous week in the Western Cornbelt live trades moved from 112.00-113.00 and dressed trades moved at 180.00.

 

Negotiated Sales:

Confirmed: 23    Week Ago: 76    Year Ago: 263

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 45,800

Weighted avg weight:        849.00

Weighted avg net price:    177.15

 

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 148.50 and 147.50 respectively. Prices are 2.00 lower than last week. All reported cash sales traded locally. Looking at the non-fed market butcher cows traded 1.00-3.00 lower through commercial auction facilities. D1, D2 cow prices are trading at the lowest point since January 2014.

 

Livestock Slaughter under Federal Inspection:                                  

                               Cattle        Calves   Hogs          Sheep

Monday (est         117,000    2,000     474,000     6,000

Week ago (est)     118,000    2,000     475,000     8,000

Year ago (act)        117,000    2,000     444,000     8,000

 

Boxed Beef: 

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

 

Cutout Values...              Choice       Select

Current Cutout Values:    213.76     201.11

Change from prior day:      +0.29       +2.28

Choice/Select spread:      +12.65

 

Futures: 

October Live Cattle Futures: 114.30… +0.43

December Live Cattle Futures: 117.25… -1.15

February Live Cattle Futures: 122.80… -0.65

November Feeder Cattle Futures: 153.90… -0.90

January Feeder Cattle Futures: 149.82… +0.12

March Feeder Cattle Futures: 147.97… +0.15

 

CME Feeder Cattle Index: 153.56… -0.45

December Hog Futures: 58.50… +0.58

Nearby Crude Oil Futures Contract: 67.04… -0.55

 

National Grain Market Summary:

Compared to Friday, cash bids for wheat and corn are mixed, while soybeans and sorghum were lower.  The southeastern half of the Corn Belt is expected to see more unwelcome rain this week continuing to hamper harvest progress.  USDA said 47.9 mb of soybeans were inspected for export last week, putting the total down 41% in 2018-19 from a year ago.  Last week's wheat inspections totaled 14.4 mb, putting total inspections down 23% from a year ago.  25.7 mb of corn was inspected for export last week, with total inspections up 69% from a year ago. Wheat was from a 1/4 cent lower to 10 cents higher.  Corn was from 6 cents to 4 cents higher.  Soybeans were 6 to 12 cents lower.  Sorghum was 1 3/4 cents lower.

 

December Corn Futures: 3.6675… -1.00

November Soybean Futures: 8.3900… -0.0600

December Wheat Futures: 5.0725… +0.0200

Kansas City Corn: 3.51… -0.04

Kansas City Soybeans: 7.92… -0.08

Kansas City Wheat: 5.01… +0.01

 

Financial Markets: 

Dow Jones Industrial Average: 24,445.09… -243.22

S & P 500: 2,641.14… -17.55

NASDAQ: 7,050.29… -116.92

U.S. Dollar Index: 96.60… +0.19

Cotton (www.ams.usda.gov): 

December Cotton Futures: 77.17… -1.36

Milk (www.cmegroup.com): 

October Class III Milk Futures: 15.53… +/-0.00