Oct 02 2019

Daily Ag Market News Report Posted 5 years 57 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

  

Futures…

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

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December Hogs: 69.10… -0.82

November Crude Oil: 52.64… -0.98

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December Corn: 3.8775… -0.0475

December Soybeans: 9.1375… -0.0575

December Wheat: 4.8900… -0.0975

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Grain Cash Bids:

Kansas City Corn: 3.75… -0.05

Kansas City Soybeans: 8.56… -0.06

Kansas City Wheat: 4.69… -0.09

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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