Sep 05 2019

Texas Daily Ag Market News Summary Posted 5 years 84 days ago by Administrator Account

Daily Market Summary for September 5th

 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 Thursday in the Southern Plains negotiated cash trade and demand was moderate. Compared to last week in the Southern Plains live purchases traded 3.00 lower at 100.00. Trade was light on moderate demand in Nebraska and the Western Cornbelt. In Nebraska compared to the bulk of Wednesday, a few dressed purchases traded 1.00-7.00 lower from 160.00-166.00. A few live purchases traded from 101.00-103.00 however not enough for an adequate market test. Last week in Nebraska, live purchases traded mostly from 104.00-106.00. Not enough purchases in the Western Cornbelt for an adequate market test. On Wednesday dressed purchases traded mostly from 167.00-168.00. Last week live purchases traded from 107.00-109.00, bulk at 109.00.

   

Negotiated Sales:

Confirmed: 29,380 --- Week Ago: 15,421 --- Year Ago: 6,633

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 30,400

Weighted avg weight:           875

Weighted avg net price:  174.36

  

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales Wednesday saw no new trade to report. Dressed bids have been reported from 230.00-235.00 delivered. Bids are 4.00-5.00 lower than the previous week. Live bids have been reported in the upper 130's and are 2.50 lower than last week's weighted average price. All three packers are showing interest on the western Canadian cash market but competition remain limited. Packers are likely pulling hard on September contract cattle.

 

Livestock Slaughter under Federal Inspection:                                  

                                  Cattle       Calves     Hogs          Sheep

Thursday (est          116,000    2,000      463,000      7,000

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

Year ago (act)          120,000    2,000      474,000      8,000

Week to date (est) 349,000    6,000   1,423,000    22,000

Last Week (est)       465,000    8,000   1,906,000    31,000

Last Year (act)         358,000    8,000   1,408,000    24,000

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

                    Wednesday           92,000                     25,000

                                 

Boxed Beef:

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     229.42     204.47

Change from prior day:        -1.23       -4.48

Choice/Select spread:          24.95

Total Load Count (Cuts, Trimmings, Grinds): 150

 

Cutter Cow Cutout: 176.17… +0.31

 

CME Feeder Cattle Index: 138.43… -0.41

 

Futures…

Live Cattle:

October: 97.87… -1.15

December: 102.22… -1.35

February: 108.40… -0.90

Feeder Cattle:

September: 134.40… -1.15

October: 132.32… -1.10

November: 131.57… -0.50

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September Hogs: 66.30… -0.82

October Crude Oil: 56.30… +0.04

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December Corn: 3.5875… +0.0025

December Soybeans: 8.6150… -0.1400

December Wheat: 4.6625… +0.0550

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Grain Cash Bids:

Kansas City Corn: 3.59… Unchanged

Kansas City Soybeans: 8.06… -0.14

Kansas City Wheat: 4.54… +0.05

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Financial Markets:

Dow Jones Industrial Average: 26,728.15… +372.68

S & P 500: 2,975.99… +38.21

NASDAQ: 8,116.83… +139.95

U.S. Dollar Index: 98.41… -0.05