Sep 09 2019

Texas Daily Ag Market News Summary Posted 5 years 80 days ago by Administrator Account

Daily Market Summary for September 9th

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 Monday, negotiated cash trading has been inactive on very light demand in Nebraska and Western Cornbelt. In the Southern Plains negotiated cash trading has been at a standstill. Not enough trades for a market trend. Last week live cash trades moved at 100.00 in the Southern Plains. For the prior week in Nebraska live cash trades ranged from 99.00-103.00 and dressed cash trades moved mostly from 165.00-167.00. For the previous week in the Western Cornbelt live cash trades ranged from 100.00-107.00 and dressed cash trades moved from 163.00-168.00.

   

Negotiated Sales:

Confirmed: 1,106 --- Week Ago: none --- Year Ago: 115

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 29,000

Weighted avg weight:             862

Weighted avg net price:    165.55

  

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 140.00 and 139.25 respectively. Prices are 1.00 lower than the previous week. With Alberta fed prices trading at a premium to the US market it is not surprising all reported cash sales traded locally. Looking at the non-fed market, butcher cows traded fully steady through commercial auction facilities last week. Cow prices are trading 1.00-2.00 higher compared to last year while butcher bull prices are 8.00 lower year over year.

 

Livestock Slaughter under Federal Inspection:                                 

                                 Cattle       Calves     Hogs          Sheep

Monday (est            115,000    2,000     485,000     9,000

Week ago (est)           3,000        0             2,000         0

Year ago (act)         119,000    2,000     458,000     8,000

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

                              Friday           90,000                    25,000

                         Saturday           86,000                    15,000

                                 

Boxed Beef:

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     226.95     201.92

Change from prior day:        -0.36       -0.02

Choice/Select spread:          25.03

Total Load Count (Cuts, Trimmings, Grinds): 123

 

Cutter Cow Cutout: 176.45… +0.01

 

CME Feeder Cattle Index: 137.77… -0.59

 

Futures…

Live Cattle:

October: 94.20… -0.67

December: 99.17… -0.58

February: 106.07… -0.33

Feeder Cattle:

September: 132.82… -0.53

October: 129.82… -1.08

November: 128.80… -1.57

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September Hogs: 62.60… -0.90

October Crude Oil: 57.85… +1.33

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December Corn: 3.5475… -0.0075

December Soybeans: 8.5775… Unchanged

December Wheat: 4.7450… +0.1075

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Grain Cash Bids:

Kansas City Corn: 3.52… -0.04

Kansas City Soybeans: 8.00… -0.02

Kansas City Wheat: 4.62… +0.11

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Financial Markets:

Dow Jones Industrial Average: 26,835.51… +38.05

S & P 500: 2,978.43… -0.20

NASDAQ: 8,087.44… -15.63

U.S. Dollar Index: 98.20… -0.10