Sep 20 2019

Texas Daily Ag Market Summary Posted 5 years 69 days ago by Administrator Account

Daily Market Summary for September 20th

The Daily Market News Report is brought to you by The Cattle Range. Please visit https://www.cattlerange.com/comprehensive-cattle-market-reports-analysis/daily-summary/ for more information!

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Slaughter Cattle:

As of 3:00 PM Friday, in all major feeding regions trading has been limited with light demand. In Kansas a few live cash trades moved at 102.00. However, not enough for a full market trend. The last fully reported market in the Southern Plains was on Thursday with live cash trades at 101.00. In Nebraska live cash trades moved steady at 102.00 when compared to the last reported market on Thursday. Not enough dressed trades for a market trend. Thursday saw dressed cash trades mostly at 162.00. In Colorado the last fully reported market was on Thursday with live cash trades at 102.00. In the Western Cornbelt, when compared to last week, live cash trades moved steady to 2.00 higher from 100.00 to 104.00 and dressed cash trades moved steady to 5.00 higher from 160.00 to 165.00.

    

Negotiated Sales:

Confirmed: 21,993 --- Week Ago: 11,476 --- Year Ago: 19,694

  

Formula Net - Dressed Steers & Heifers

Head count priced today: 18,400

Weighted avg weight:             858

Weighted avg net price:    158.52

      

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales Thursday saw light trade develop with dressed sales reported at 232.00 delivered. Sales are 2.00-6.00 higher than the previous week. Buyers were indicating cattle that they bought this week would not be lifted for 3-4 weeks. Cash to futures basis levels did weaken this week but remain stronger than the five-year historical average. Western Canadian steer carcass weights continue to seasonally increase. Even though slaughter volumes have been large over the past two months there is a scene out there that feedlot inventories are slowly losing current. 

 

Livestock Slaughter under Federal Inspection:                                  

                                   Cattle       Calves     Hogs          Sheep

Friday (est)               116,000     2,000      446,000      5,000

Week ago (est)         109,000     2,000      476,000      5,000

Year ago (act)           119,000     3,000      439,000      6,000

Week to date (est)    583,000   10,000   2,392,000    36,000

Last Week (est)        571,000   10,000   2,419,000    36,000

Last Year (act)          589,000   14,000   2,147,000    37,000

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

                         Thursday          92,000                     24,000

                                                 

Boxed Beef: 

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     216.97     191.72

Change from prior day:       -1.20        -0.44

Choice/Select spread:        25.25

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

  

Cutter Cow Cutout: 175.55… +0.33

  

CME Feeder Cattle Index: 138.53… +1.24

  

Futures…

Live Cattle:

October: 99.35… -0.45

December: 105.15… -0.67

February: 112.07… -0.45

Feeder Cattle:

September: 140.32… +0.37

October: 139.20… +0.28

November: 137.02… -0.23

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September Hogs: 60.35… -1.05

October Crude Oil: 58.09… -0.04

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December Corn: 3.7075… -0.0200

December Soybeans: 8.8275… -0.1025

December Wheat: 4.8425… -0.0375

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Grain Cash Bids:

Kansas City Corn: 3.63… -0.04

Kansas City Soybeans: 8.24… -0.11

Kansas City Wheat: 4.72… -0.04

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Financial Markets:

Dow Jones Industrial Average: 26,934.60… -160.19

S & P 500: 2,991.73… -15.06

NASDAQ: 8,117.67… -65.21

U.S. Dollar Index: 98.48… +0.21