Agriculture Market Summary
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Daily Ag Market News Report

Posted 4 years 201 days ago by Administrator Account

Daily Market Summary for October 2nd

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Slaughter Cattle:

As of 3:00 PM Wednesday, negotiated cash trading has been at a standstill in the Northern Plains and Western Cornbelt. In the Southern Plains 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.  The FCE On-Line Auction offered 846 head on Wednesday with none sold.


Negotiated Sales:

Confirmed: 1,801 --- Week Ago: 310 --- Year Ago: 70


Formula Net - Dressed Steers & Heifers

Head count priced today: 22,400
Weighted avg weight:            875
Weighted avg net price:   165.54


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. With stronger prices in the US late last week, Alberta fed prices did move to a discount against the US market. Based on the five-year average basis levels historically weaken from September to October. One positive for the fed cattle market is the fact non-fed slaughter volumes have been slow to increase. For the fed cattle market steady to higher prices are expected for this week.  


Livestock Slaughter under Federal Inspection:                                  

                                  Cattle       Calves     Hogs          Sheep
Wednesday (est)   116,000    2,000       489,000      7,000
Week ago (est)       117,000    2,000       475,000      7,000
Year ago (act)          121,000    3,000      472,000      7,000
Week to date (est)  350,000    6,000   1,468,000    24,000
Last Week (est)       350,000    6,000   1,388,000    24,000
Last Year (act)         354,000    7,000   1,398,000    24,000
Previous Day Estimated   Steers & Heifers --- Cows & Bulls                
                        Tuesday           92,000                    25,000


Boxed Beef: 

Boxed beef cutout values weak on Choice and steady on Select on light to moderate demand and offerings. Select and Choice rib and loin cuts steady to weak while chuck cuts steady to firm. Choice round cuts steady while Select lower. Beef trimmings mostly sharply lower on light demand and heavy supplies.
Cutout Values...                 Choice     Select
Current Cutout Values:     212.97     185.90
Change from prior day:        -0.50        -0.15
Choice/Select spread:          27.07
Total Load Count (Cuts, Trimmings, Grinds): 171


Cutter Cow Cutout: 171.75… -1.23


CME Feeder Cattle Index: 143.09… +0.14



Live Cattle:
October: 106.05… +1.43
December: 110.62… +0.80
February: 116.80… +0.75
Feeder Cattle:
October: 142.07… +1.10
November: 141.67… +1.50
January: 138.00… +1.03
December Hogs: 69.10… -0.82
November Crude Oil: 52.64… -0.98
December Corn: 3.8775… -0.0475
December Soybeans: 9.1375… -0.0575
December Wheat: 4.8900… -0.0975
Grain Cash Bids:
Kansas City Corn: 3.75… -0.05
Kansas City Soybeans: 8.56… -0.06
Kansas City Wheat: 4.69… -0.09

Financial Markets:

Dow Jones Industrial Average: 26,078.62… -494.42
S & P 500: 2,887.61… -52.64
NASDAQ: 7,785.25… -123.43
U.S. Dollar Index: 99.02… -0.10