Texas Daily Ag Market News Summary

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:  

Tuesday negotiated cash trading has been at a standstill in all major feeding regions. Last week in the Texas Panhandle saw live cash trades from 116.50-117.00, mostly at 117.00. In Kansas live cash trades moved from 116.00-117.00. For the prior week in Nebraska live cash trades moved from 116.00-117.00, mostly at 116.00. Dressed cash trades moved from 18.00-185.00, mostly at 185.00. For the previous week in the Western Cornbelt live cash trades were mostly from 113.00-114.00 and dressed cash trades mostly at 180.00 with a few up to 185.00.

Negotiated Sales:

Confirmed: 300    Week Ago: 322    Year Ago: none

Formula Net - Dressed Steers & Heifers

Head count priced today: 22,000

Weighted avg weight:       860.00

Weighted avg net price:    182.52

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Monday were typically quiet with no new trade to report. This weeks fed offering including carry over is generally steady with the previous week. Trade inquiries are anticipated for Wednesday and feedlot asking prices are expected to start out around $255+/cwt delivered.

Livestock Slaughter under Federal Inspection:                                  

                                   Cattle        Calves   Hogs          Sheep

Tuesday (est            121,000    2,000     469,000      9,000

Week ago (est)        119,000    2,000     479,000      9,000

Year ago (act)          121,000    2,000     461,000      9,000

Week to date (est) 236,000    4,000     915,000    17,000

Last Week (est)       238,000    4,000     958,000    17,000

Last Year (act)         237,000    4,000     908,000    17,000

Boxed Beef: 

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

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Cutout Values...              Choice       Select

Current Cutout Values:    214.00     200.24

Change from prior day:       -0.45       +0.45

Choice/Select spread:       +13.76

Live Cattle Futures:

December: 116.70… -0.22

February: 120.60… -0.05

April: 122.57… -0.30

Feeder Cattle Futures:

January: 148.42… -0.73

March: 146.00… -0.15

April: 146.40… -0.07

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CME Feeder Cattle Index: 148.17… +0.65

December Hog Futures: 57.87… +0.47

Nearby Crude Oil Futures Contract: 51.56… -0.07

National Grain Market Summary:

Compared to yesterday, cash bids for corn, soybeans, and sorghum were higher, while wheat was mostly lower.  USDA said 94% of corn was harvested, 2 percentage points below its normal pace.  Areas that are still behind include the Dakotas, Ohio and Pennsylvania and there is more precipitation in store this week for the eastern Midwest, including the latter two states.  94% of soybean harvest is done as well, but also showed several states where progress is still lagging. 95% of winter wheat is planted and 86% has emerged.  For the wheat that is up, USDA said 55% was rated either good or excellent, up from 50% a year ago.

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Kansas City Corn: 3.57… +0.01

Kansas City Soybeans: 8.42… +0.13

Kansas City Wheat: 4.69… -0.06

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December Corn Futures: 3.5650… +0.0050

November Soybean Futures: 8.7550… +0.1350

December Wheat Futures: 4.9800… -0.0950

Financial Markets: 

Dow Jones Industrial Average: 24,748.73… +108.49

S & P 500: 2,682.20… +8.75

NASDAQ: 7,082.70… +0.85

U.S. Dollar Index: 97.36… +0.31