Sep 03 2019

Texas Daily Ag Market News Summary Posted 5 years 86 days ago by Administrator Account

Daily Market Summary for September 3rd

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Slaughter Cattle:

As of 3:00 PM Tuesday, negotiated cash trade was limited on light to moderate demand in Kansas and the Western Cornbelt. Not enough purchases in any feeding region for an adequate market test. The latest established market in any feeing region was last week with live purchases in the Southern Plains at 103.00. In Nebraska last week, live purchases traded mostly from 104.00-106.00 with dressed purchases mostly from 170.00-175.00. Last week in the Western Cornbelt, live purchase traded from 107.00-109.00, bulk at 109.00 with dressed purchases from 170.00-175.00.

   

Negotiated Sales:

Confirmed: 1,930 --- Week Ago: 3,123 --- Year Ago: 316

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 33,800

Weighted avg weight:             862

Weighted avg net price:    171.22

  

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales last week saw light trade develop with weighted average steer and heifer prices closing the week at 141.75 and 141.00 respectively. Prices are fully steady with the previous week. Western Canadian fed slaughter volumes for the week ending August 24th totaled just over 50,000 head, this is the largest weekly slaughter volume since September 2005. Looking at the non-fed market butcher and bulls traded 1.00-3.00 lower through commercial auction facilities last week.

    

Livestock Slaughter under Federal Inspection:                                 

                                  Cattle       Calves     Hogs          Sheep

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

Week ago (est)        117,000    2,000     459,000      8,000

Year ago (act)          115,000    3,000     463,000      8,000

Week to date (est)   120,000    2,000     487,000      8,000

Last Week (est)       233,000    4,000     936,000    17,000

Last Year (act)         119,000    3,000     465,000      9,000

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

                          Monday              2,000                       1,000

                                 

Boxed Beef:

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     230.66     211.62

Change from prior day:       -1.11        -0.65

Choice/Select spread:        19.04

Total Load Count (Cuts, Trimmings, Grinds): 77

 

Cutter Cow Cutout: 175.56… -0.29

 

CME Feeder Cattle Index: 139.09… -0.09

 

Futures…

Live Cattle:

October: 99.27… +0.35

December: 104.32… +0.65

February: 109.20… +0.18

Feeder Cattle:

September: 134.15… +1.75

October: 132.10… +1.30

November: 131.02… +0.70

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September Hogs: 66.52… +3.00

October Crude Oil: 53.94… -1.16

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December Corn: 3.6100… -0.0875

December Soybeans: 8.6850… -0.0050

December Wheat: 4.5350… -0.0900

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Grain Cash Bids:

Kansas City Corn: 3.61… -0.12

Kansas City Soybeans: 8.13… -0.03

Kansas City Wheat: 4.42… -0.04

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Financial Markets:

Dow Jones Industrial Average: 26,118.02… -285.26

S & P 500: 2,906.27… -20.18

NASDAQ: 7,874.16… -88.72

U.S. Dollar Index: 98.99… -0.07