Oct 01 2019

Texas Daily Ag Market News Summary Posted 5 years 58 days ago by Administrator Account

Daily Market Summary for October 1^st

The Daily Market News Report bought to you by The Cattle Range. Please visit their website for more information!

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Slaughter Cattle:

As of 3:00 PM Tuesday, negotiated cash trading has been at a standstill in the Southern and Northern Plains. In the Western Cornbelt negotiated cash trading has been inactive on very light demand. Not enough trades for a market trend. The latest established market in all major feeding regions was last week. In the Southern Plains live cash trades moved at 103.00. In Nebraska live and dressed cash trades moved from 104.00-107.00 and mostly at 165.00, respectively. In Colorado live cash trades moved mostly at 106.00. In the Western Cornbelt live and dressed cash trades moved from 104.00-106.00 and mostly at 165.00.

   

Negotiated Sales:

Confirmed: 114 --- Week Ago: 157 --- Year Ago: 4,199

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 23,400

Weighted avg weight:            851

Weighted avg net price:    165.47

    

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales Monday saw no new trade to report. This week's showlist has been compiled with volumes smaller than the previous week. Packers are not expected to have as many contract cattle for the month of October compared to September which should support interest in the cash market. September has one of the highest probabilities of setting annual price lows so hopefully lows for the fed cattle market are behind us. 

 

Livestock Slaughter under Federal Inspection:                                 

                                  Cattle       Calves     Hogs          Sheep

Tuesday (est)          117,000    2,000      490,000      8,000

Week ago (est)       117,000    2,000      470,000      8,000

Year ago (act)         116,000    2,000      476,000      9,000

Week to date (est)  234,000    4,000      979,000    17,000

Last Week (est)       233,000    4,000     913,000    17,000

Last Year (act)         233,000    4,000     926,000    17,000

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

                          Monday           94,000                     23,000

                                                  

Boxed Beef:

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     212.44     187.11

Change from prior day:       +1.03       -1.06

Choice/Select spread:         27.42

Total Load Count (Cuts, Trimmings, Grinds): 156

 

Cutter Cow Cutout: 172.98… +0.07

 

CME Feeder Cattle Index: 142.95… +0.44

 

Futures…

Live Cattle:

October: 104.62… +0.05

December: 109.82… -0.48

February: 116.05… -0.57

Feeder Cattle:

October: 140.97… -1.43

November: 140.17… -1.75

January: 136.97… -1.35

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December Hogs: 69.92… -2.68

November Crude Oil: 53.62… -0.45

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December Corn: 3.9250… +0.0450

December Soybeans: 9.1950… +0.1350

December Wheat: 4.9875… +0.0300

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Grain Cash Bids:

Kansas City Corn: 3.80… +0.02

Kansas City Soybeans: 8.62… +0.16

Kansas City Wheat: 4.78… -0.05

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Financial Markets:

Dow Jones Industrial Average: 26,572.97… -343.86

S & P 500: 2,940.17… -36.57

NASDAQ: 7,908.68… -90.66

U.S. Dollar Index: 99.12… -0.26