Sep 06 2019

Texas Daily Ag Market News Summary Posted 5 years 83 days ago by Administrator Account

Daily Market Summary for September 6th

 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 Friday, negotiated trade was light on moderate demand in Nebraska and the Western Cornbelt. Compared to last week in Nebraska, live purchases traded mostly 4.00-6.00 lower from 98.00-100.00, bulk at 100.00. Not enough dressed purchases for an adequate market test. On Thursday in Nebraska dressed purchases traded from 160.00-166.00. In the Western Cornbelt a few live purchases were reported at 100.00, however not enough for an adequate market test. On Thursday in the Western Cornbelt, live purchases traded from 102.00-107.00 with dressed purchases from 163.00-166.00. Trade was limited on light to moderate demand in Kansas. A limited amount of live purchases were reported from 99.00-100.00 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 on Thursday with live purchases at 100.00.

   

Negotiated Sales:

Confirmed: 9,014 --- Week Ago: 11,785 --- Year Ago: 17,362

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 17,700

Weighted avg weight:             863

Weighted avg net price:    167.93

  

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales Thursday saw light trade develop with dressed sales reported at 234.00 delivered. Sales are steady to 1.00 lower than prices seen on Wednesday and 1.00-5.00 lower than last week. Buyers were indicating cattle that they bought this week would not be lifted until late September/early October. The way things are looking new annual lows will be established this week. Using a 103.00 Nebraska price, Alberta fed prices are sitting at roughly a 3.50 premium against the Nebraska market.

 

Livestock Slaughter under Federal Inspection:                                  

                                  Cattle       Calves     Hogs          Sheep

Friday (est                115,000     2,000      424,000      7,000

Week ago (est)        115,000     2,000      473,000      5,000

Year ago (act)          119,000     3,000      465,000      7,000

Week to date (est)  464,000     8,000   1,847,000    29,000

Last Week (est)       580,000   10,000   2,379,000    36,000

Last Year (act)         477,000   11,000   1,873,000    31,000

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

                         Thursday          91,000                     25,000             

                                 

Boxed Beef:

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     227.31     201.94

Change from prior day:       -2.11       -2.53

Choice/Select spread:        25.37

Total Load Count (Cuts, Trimmings, Grinds): 125

 

Cutter Cow Cutout: 176.44… +0.27

 

CME Feeder Cattle Index: 138.36… -0.07

 

Futures…

Live Cattle:

October: 94.87… -3.00

December: 99.75… -2.47

February: 106.40… -2.00

Feeder Cattle:

September: 133.35… -1.05

October: 130.90… -1.42

November: 130.37… -1.20

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September Hogs: 63.50… -2.80

October Crude Oil: 56.52… +0.22

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December Corn: 3.5550… -0.0325

December Soybeans: 8.5775… -0.0375

December Wheat: 4.6375… -0.0250

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Grain Cash Bids:

Kansas City Corn: 3.56… -0.03

Kansas City Soybeans: 8.02… -0.04

Kansas City Wheat: 4.51… -0.03

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Financial Markets:

Dow Jones Industrial Average: 26,797.46… +69.31

S & P 500: 2,978.71… +2.72

NASDAQ: 8,103.07… -13.76

U.S. Dollar Index: 98.42… +0.01