Sep 25 2019

Texas Daily Ag Market News Summary Posted 5 years 64 days ago by Administrator Account

Daily Market Summary for September 25th

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Slaughter Cattle:

As of 3:00 PM Wednesday, negotiated cash trade was mostly inactive on light demand in all feeding regions. The latest established market in any feeding region was last week with live purchases in the Southern Plains at 101.00. In the Northern Plains last week, live purchases traded mostly at 102.00 with dressed purchases in Nebraska from 160.00-165.00, bulk at 162.00. In the Western Cornbelt last week, live purchases traded from 100.00-104.00, bulk at 102.00 with dressed purchases from 160.00-165.00.  The FCE On-Line Auction offered 1,533 head on Wednesday with none sold.

    

Negotiated Sales:

Confirmed: 310 --- Week Ago: 3,177 --- Year Ago: 1,608

  

Formula Net - Dressed Steers & Heifers

Head count priced today: 19,300

Weighted avg weight:             871

Weighted avg net price:    163.31

      

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. Looking at the most recent weekly live cattle export data. Canadian fed cattle and cow exports to the US totaled just over 7,300 head, volumes are down 19% compared to the same week last year. 

 

Livestock Slaughter under Federal Inspection:                                  

                                   Cattle       Calves     Hogs          Sheep

Wednesday (est)      117,000    2,000      475,000      7,000

Week ago (est)         116,000    2,000      488,000      7,000

Year ago (act)           119,000    2,000      472,000      7,000

Week to date (est)    350,000    6,000   1,388,000    24,000

Last Week (est)        351,000    6,000   1,463,000    24,000

Last Year (act)          356,000    6,000   1,411,000    23,000

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

                          Tuesday           93,000                     24,000

                                                 

Boxed Beef: 

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     214.63     189.83

Change from prior day:       -0.76       +0.17

Choice/Select spread:        24.80

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

  

Cutter Cow Cutout: 173.87… -0.56

  

CME Feeder Cattle Index: 140.03… +0.27

  

Futures…

Live Cattle:

October: 103.00… +0.88

December: 108.50… +1.08

February: 114.72… +0.77

Feeder Cattle:

September: 141.57… +0.32

October: 142.45… +0.80

November: 141.12… +0.92

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December Hogs: 71.40… +2.30

November Crude Oil: 56.49… -0.80

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December Corn: 3.7425… -0.0050

December Soybeans: 8.8925… -0.0500

December Wheat: 4.7725… -0.0450

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Grain Cash Bids:

Kansas City Corn: 3.64… -0.01

Kansas City Soybeans: 8.29… -0.07

Kansas City Wheat: 4.65… -0.04

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Financial Markets:

Dow Jones Industrial Average: 26,970.71… +162.94

S & P 500: 2,984.87… +18.27

NASDAQ: 8,077.38… +83.75

U.S. Dollar Index: 99.02… +0.69