Aug 27 2019

Texas Daily Ag Market News Summary Posted 5 years 93 days ago by Administrator Account

Daily Market Summary for August 27th

 The Daily Market News Report is brought to you by The Cattle Range. Please visit https://www.cattlerange.com/comprehensive-cattle-market-reports-analysis/daily-summary/ for more information!

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Slaughter Cattle:

As of 3:00 PM Tuesday, negotiated cash trade in the Southern Plains has been at a standstill. In Nebraska negotiated cash trade has been inactive on light demand. In the Western Cornbelt negotiated cash trade has been limited on light demand. A very few early live trades moved at 109.00. However, not enough for a full market trend. Last week in the Southern Plains live purchases traded at 106.00. Last week in Nebraska live purchases traded from 107.00-108.00 on a light test and dressed purchases traded from 170.00-178.00, bulk from 175.00.-178.00 on a light test. For the previous week in the Western Cornbelt, on a light test, live purchases traded mostly at 110.00 with dressed purchases from 174.00-178.00.

    

Negotiated Sales:

Confirmed: 3,123 --- Week Ago: 40 --- Year Ago: 2,562

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 25,300

Weighted avg weight:             870

Weighted avg net price:    173.49

   

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales Monday saw no new trade to report. This week's showlist has been compiled with volumes smaller than the previous week. For the week ending August 17th Western Canadian steer carcass weights averaged 913lbs. For the middle of August this is a record large carcass weight. Canadian beef cutout values have not been able to keep up with the strength in the US beef market. Canadian AAA and AA cutout values are trading at a sizable discount to the US.

     

Livestock Slaughter under Federal Inspection:                                  

                                  Cattle       Calves     Hogs          Sheep

Tuesday (est            117,000    2,000     485,000      8,000

Week ago (est)        116,000    2,000     482,000      7,000

Year ago (act)          120,000    2,000     473,000      8,000

Week to date (est)  233,000    4,000     962,000    17,000

Last Week (est)       231,000    4,000     962,000    16,000

Last Year (act)         240,000    4,000     941,000    16,000

Previous Day Estimated   Steers & Heifers --- Cows & Bulls                

                          Monday           94,000                     22,000

                                  

Boxed Beef: 

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     236.76     210.71

Change from prior day:       -1.30        -0.95

Choice/Select spread:        26.05

Total Load Count (Cuts, Trimmings, Grinds): 112

  

Cutter Cow Cutout: 175.66… -1.22

  

CME Feeder Cattle Index: 138.38… +0.72

  

Futures…

Live Cattle:

August: 104.75… -0.72

October: 99.77… -1.23

December: 104.80… -1.17

Feeder Cattle:

August: 138.55… -0.10

September: 133.77… -2.23

October: 132.50… -1.87

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September Hogs: 63.22… -0.58

October Crude Oil: 54.93… +1.29

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September Corn: 3.5700… -0.0150

September Soybeans: 8.4625… -0.0750

September Wheat: 4.7375… +0.0075

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Grain Cash Bids:

Kansas City Corn: 3.70… -0.01

Kansas City Soybeans: 8.03… -0.08

Kansas City Wheat: 4.69… +0.01

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Financial Markets:

Dow Jones Industrial Average: 25,777.90… -120.93

S & P 500: 2,826.95… -9.22

NASDAQ: 7,826.95… -26.79

U.S. Dollar Index: 98.03… -0.05