Sep 11 2019

Texas Daily Ag Market News Summary Posted 5 years 78 days ago by Administrator Account

Daily Market Summary for September 11th

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  Slaughter Cattle:

As of 3:00 PM Wednesday, negotiated cash trading has been inactive on very light demand in Kansas, Nebraska and the Western Cornbelt. In the Texas Panhandle trading has been at a standstill. Not enough purchases in any 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: 2,624 --- Week Ago: 7,560 --- Year Ago: 422

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 20,700

Weighted avg weight:             873

Weighted avg net price:    165.37

   

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. Technical price levels have improved since Monday. Softer cash prices in the US does not bode well for prices here in Western Canada. Some cattle have been carried over for the past couple weeks and there could be some additional pressure to market cattle.

 

Livestock Slaughter under Federal Inspection:                                  

                                 Cattle       Calves     Hogs          Sheep

Wednesday (est      117,000    2,000      487,000      7,000

Week ago (est)        117,000    2,000      485,000      7,000

Year ago (act)          120,000    3,000      410,000      7,000

Week to date (est)   348,000    6,000   1,457,000    24,000

Last Week (est)       233,000    4,000      960,000    15,000

Last Year (act)         359,000    8,000   1,340,000    24,000

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

                           Tuesday          91,000                     25,000                

                                                 

Boxed Beef: 

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     219.89     198.40

Change from prior day:        -5.49       -2.58

Choice/Select spread:          21.49

Total Load Count (Cuts, Trimmings, Grinds): 166

  

Cutter Cow Cutout: 175.61… -0.07

  

CME Feeder Cattle Index: 136.17… -0.27

  

Futures…

Live Cattle:

October: 98.50… +2.35

December: 103.62… +2.40

February: 110.17… +1.75

Feeder Cattle:

September: 136.07… +2.17

October: 134.02… +2.97

November: 133.55… +2.85

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September Hogs: 60.17… -2.55

October Crude Oil: 55.75… -1.65

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December Corn: 3.6000… -0.0150

December Soybeans: 8.6650… -0.0550

December Wheat: 4.7750… -0.0475

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Grain Cash Bids:

Kansas City Corn: 3.58… -0.01

Kansas City Soybeans: 8.09… -0.06

Kansas City Wheat: 4.65… -0.05

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Financial Markets:

Dow Jones Industrial Average: 27,137.04… +227.61

S & P 500: 3,000.93… +21.54

NASDAQ: 8,169.68… +85.52

U.S. Dollar Index: 98.63… +0.30