Sep 04 2019

Texas Daily Ag Market News Summary Posted 5 years 85 days ago by Administrator Account

Daily Market Summary for September 4th

 The Daily Market News Report bought to you by The Cattle Range. Please visit their website for more information!

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Slaughter Cattle:

As of 3:00 PM Wednesday, negotiated cash trade was light on moderate demand in Nebraska. Compared to last week, early dressed purchases in Nebraska traded 3.00-8.00 lower at 167.00. A few early live purchases were reported at 103.00, however not enough for an adequate market test. Last week in Nebraska live purchases traded mostly from 104.00-106.00. Trade was limited on light to moderate demand in Kansas and the Western Cornbelt. A few early dressed purchases were reported in the Western Cornbelt from 167.00-168.00, however not enough for an adequate market test. Trade was inactive on light demand in the Texas Panhandle. The latest established market in the Southern Plains was last week at 103.00. 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: 7,560 --- Week Ago: 5,203 --- Year Ago: 1,693

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 26,100

Weighted avg weight:             864

Weighted avg net price:    173.73

  

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales Tuesday saw no new trade to report but there is a chance scattered trade could develop by this afternoon. This week's showlist has been compiled with volumes smaller than the previous week. Last week on a cash to cash basis Alberta fed prices were at a 1.00 premium against the Nebraska market. This is only the second time this year Alberta prices have been at a premium to the US market. Fed prices in the near term are not expected to get much better as September is traditionally a tough month for the fed cattle market.

     

Livestock Slaughter under Federal Inspection:                                 

                                  Cattle      Calves     Hogs          Sheep

Wednesday (est      117,000    2,000      485,000      7,000

Week ago (est)        116,000    2,000      485,000      7,000

Year ago (act)          119,000    3,000      469,000      7,000

Week to date (est)  233,000    4,000      960,000     15,000

Last Week (est)       349,000    6,000   1,421,000    24,000

Last Year (act)         238,000    6,000      934,000    16,000

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

                          Tuesday           89,000                     24,000

                                 

Boxed Beef:

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     230.65     208.95

Change from prior day:       -0.01       -2.67

Choice/Select spread:        21.70

Total Load Count (Cuts, Trimmings, Grinds): 141

 

Cutter Cow Cutout: 175.86… +0.30

 

CME Feeder Cattle Index: 138.84… -0.25

 

Futures…

Live Cattle:

October: 99.02… -0.25

December: 103.57… -0.75

February: 109.30… +0.10

Feeder Cattle:

September: 135.55… +1.40

October: 133.42… +1.32

November: 132.07… +1.05

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September Hogs: 67.12… +0.60

October Crude Oil: 56.26… +2.32

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December Corn: 3.5850… -0.0250

December Soybeans: 8.7550… +0.0700

December Wheat: 4.6075… +0.0725

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Grain Cash Bids:

Kansas City Corn: 3.59… -0.02

Kansas City Soybeans: 8.20… +0.07

Kansas City Wheat: 4.49… +0.07

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Financial Markets:

Dow Jones Industrial Average: 26,355.47… +237.45

S & P 500: 2,937.78… +31.51

NASDAQ: 7,976.88… +102.72

U.S. Dollar Index: 98.46… -0.54