Sep 27 2019

Texas Daily Ag Market Summary Posted 5 years 62 days ago by Administrator Account

              Daily Market Summary for September 27th

 

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 Slaughter Cattle:

As of 3:00 PM Friday, negotiated cash trade was light to moderate on moderate demand in the Southern Plains. Compared to Thursday, live purchases in the Southern Plains traded steady at 103.00. Trade was moderate on good demand in Nebraska. Compared to last week live purchases traded mostly 4.00-5.00 higher from 104.00-107.00, bulk from 106.00-107.00. A few dressed purchases traded steady compared to Thursday at 165.00. Trade was light on good demand in Colorado. Compared to last week in Colorado, live purchase traded mostly 4.00 higher from 106.00-107.00, bulk at 106.00. Trade was light on light to moderate demand in the Western Cornbelt. Not enough purchases for an adequate market test. On Thursday live purchases traded from 104.00-105.00 with dressed purchases from 165.00-167.00, bulk at 165.00.

    

Negotiated Sales:

Confirmed: 26,276 --- Week Ago: 21,993 --- Year Ago: 46,392

  

Formula Net - Dressed Steers & Heifers

Head count priced today: 22,200

Weighted avg weight:           875

Weighted avg net price:   162.82

      

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales Thursday saw light trade develop with dressed sales marked at 235.00 delivered. Sales are 2.00-5.00 higher than the previous week. All three western Canadian packers did buy cattle this week. From there lows posted two weeks ago fed prices have rallied 3.00. Buyers were indicating cattle that they bought this week would not be lifted until mid to late October. Cash to futures basis levels did weaken this week but still remain stronger than the five-year average.   

 

Livestock Slaughter under Federal Inspection:                                  

                                  Cattle       Calves     Hogs          Sheep

Friday (est)              116,000      2,000     484,000      5,000

Week ago (est)       116,000      2,000      440,000      5,000

Year ago (act)         121,000      3,000      454,000      7,000

Week to date (est)  583,000   10,000   2,362,000    36,000

Last Week (est)       583,000   10,000   2,386,000    36,000

Last Year (act)         598,000   11,000   2,335,000    38,000

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

                         Thursday           91,000                    26,000

                                                 

Boxed Beef: 

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     212.58     189.86

Change from prior day:       -0.93        -0.53

Choice/Select spread:        22.72

Total Load Count (Cuts, Trimmings, Grinds): 102

  

Cutter Cow Cutout: 174.27… +1.26

  

CME Feeder Cattle Index: 141.77… +0.63

  

Futures…

Live Cattle:

October: 105.02… +2.07

December: 110.57… +1.82

February: 116.20… +1.20

Feeder Cattle:

October: 144.32… +1.22

November: 142.97… +1.52

January: 138.70… +1.13

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December Hogs: 69.85… -0.52

November Crude Oil: 55.91… -0.50

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December Corn: 3.7150… -0.0100

December Soybeans: 8.8300… -0.0550

December Wheat: 4.8725… +0.0300

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Grain Cash Bids:

Kansas City Corn: 3.62… -0.01

Kansas City Soybeans: 8.23… -0.06

Kansas City Wheat: 4.75… +0.03

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Financial Markets:

Dow Jones Industrial Average: 26,820.25… -70.87

S & P 500: 2,961.80… -15.82

NASDAQ: 7,939.63… -91.03

U.S. Dollar Index: 99.10… -0.03