Sep 18 2019

Texas Daily Ag Market News Summary Posted 5 years 71 days ago by Administrator Account

Daily Market Summary for September 18th

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Slaughter Cattle:

As of 3:00 PM Wednesday, negotiated cash trading has been limited on very light demand in Kansas. In the Texas Panhandle, Nebraska and Western Cornbelt negotiated cash trading has been inactive with very light demand. In Colorado negotiated cash trading has been at a standstill. Not enough trades for a market trend in major feeding region. Last week in the Texas Panhandle live trades moved mostly at 99.00. In Kansas live trades moved from 99.00-100.00 for the prior week. In Northern Plains live trades moved from 100.00-101.00 and dressed trades, in Nebraska, ranged from 155.00-160.00 for the previous week. Last week in the Western Cornbelt live trades moved from 100.00-102.00 and dressed trades moved mostly at 160.00.

   

The Fed Cattle Exchange On-Line Auction offered 1,229 head on Wednesday with 281 head sold at a weighted average price of $101.13.

    

Negotiated Sales:

Confirmed: 3,177 --- Week Ago: 2,624 --- Year Ago: 516

  

Formula Net - Dressed Steers & Heifers

Head count priced today: 18,000

Weighted avg weight:           871

Weighted avg net price:   164.95

      

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. The market is likely in the midst of working through peak cattle supplies. Canfax released its September 1st cattle on feed report last Friday. Placements for the month of August were down over 20% compared to last year while fed cattle marketings were steady with last year. This is the fourth consecutive month that placements have been below last year.

 

Livestock Slaughter under Federal Inspection:                                  

                                   Cattle      Calves     Hogs         Sheep

Wednesday (est      116,000    2,000       488,000     7,000

Week ago (est)       117,000    2,000       487,000      7,000

Year ago (act)          120,000    3,000      436,000      7,000

Week to date (est)  351,000    6,000   1,463,000    24,000

Last Week (est)       348,000    6,000   1,457,000    24,000

Last Year (act)         352,000    9,000   1,270,000    23,000

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

                         Tuesday           93,000                   25,000

                                                 

Boxed Beef: 

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     218.24     191.97

Change from prior day:        -1.53        -1.94

Choice/Select spread:          26.27

Total Load Count (Cuts, Trimmings, Grinds): 172

  

Cutter Cow Cutout: 175.24… -1.52

  

CME Feeder Cattle Index: 137.33… +0.21

  

Futures…

Live Cattle:

October: 100.37… +1.02

December: 106.15… +0.85

February: 112.37… +0.60

Feeder Cattle:

September: 139.87… +0.70

October: 138.40… +1.10

November: 136.30… +1.25

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September Hogs: 62.92… +0.82

October Crude Oil: 58.11… -1.23

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December Corn: 3.7125… +0.0325

December Soybeans: 8.8875… -0.0500

December Wheat: 4.8950… +0.0525

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Grain Cash Bids:

Kansas City Corn: 3.66… +0.03

Kansas City Soybeans: 8.30… -0.06

Kansas City Wheat: 4.77… +0.05

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Financial Markets:

Dow Jones Industrial Average: 27,147.12… +36.52

S & P 500: 3,006.72… +1.03

NASDAQ: 8,177.39… -8.63

U.S. Dollar Index: 98.49… +0.23