Sep 10 2019

Texas Daily Ag Market News Summary Posted 5 years 79 days ago by Administrator Account

Daily Market Summary for September 10^th

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Slaughter Cattle:

As of 3:00 PM Tuesday, negotiated cash trade was limited on light demand in Nebraska and the Western Cornbelt. Trade was inactive on light demand in all other feeding regions. Not enough purchases in feeding region for an adequate market test. Last week live purchases traded at 100.00 in the Southern Plains. For the prior week in Nebraska live cash purchases ranged from 99.00-103.00 with dressed purchases mostly from 165.00-167.00. For the previous week in the Western Cornbelt live purchases traded from 100.00-107.00 with dressed purchases from 163.00-168.00.

   

Negotiated Sales:

Confirmed: 1,232 --- Week Ago: 1,930 --- Year Ago: 798

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 31,900

Weighted avg weight:             875

Weighted avg net price:    169.63

  

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales Monday saw no new trade to report. This week’s showlist has been compiled with volumes larger than the previous week. Last week on a dressed basis Ontario fed prices were at 2.00-3.00 premium against the Nebraska market. Western Canadian steer carcass weights for the week ending August 31st averaged 906lbs, weights are 8lbs larger than last year and 6lbs larger than the five-year average. Packers are indicating they have lots of cattle around them and competition on the cash market has been limited over the past two weeks.

 

Livestock Slaughter under Federal Inspection:                                 

                                   Cattle       Calves     Hogs          Sheep

Tuesday (est            116,000    2,000     485,000      8,000

Week ago (est)        113,000    2,000     473,000      8,000

Year ago (act)          120,000    3,000     472,000      9,000

Week to date (est)  231,000    4,000     970,000    17,000

Last Week (est)       116,000    2,000     475,000      8,000

Last Year (act)         239,000    5,000     930,000    17,000

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

                          Monday           92,000                    23,000

                                           

Boxed Beef:

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     225.38     200.98

Change from prior day:        -1.57       -0.94

Choice/Select spread:          24.40

Total Load Count (Cuts, Trimmings, Grinds): 121

 

Cutter Cow Cutout: 175.67… -0.78

 

CME Feeder Cattle Index: 136.44… -1.33

 

Futures…

Live Cattle:

October: 96.15… +1.95

December: 101.22… +2.05

February: 108.42… +2.35

Feeder Cattle:

September: 133.90… +1.08

October: 131.05… +1.23

November: 130.70… +1.90

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September Hogs: 62.72… +0.12

October Crude Oil: 57.40… -0.45

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December Corn: 3.6150… +0.0675

December Soybeans: 8.7200… +0.1425

December Wheat: 4.8225… +0.0775

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Grain Cash Bids:

Kansas City Corn: 3.59… +0.07

Kansas City Soybeans: 8.15… +0.15

Kansas City Wheat: 4.70… +0.08

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Financial Markets:

Dow Jones Industrial Average: 26,909.43… +73.92

S & P 500: 2,979.39… +0.96

NASDAQ: 8,084.16… -3.28

U.S. Dollar Index: 98.39… +0.11