Oct 03 2019

Daily AG Market Round Up Posted 5 years 56 days ago by Administrator Account

Daily Market Summary for October 3rd

 

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Slaughter Cattle:

As of 3:00 PM Thursday in the Texas Panhandle negotiated cash trading has been moderate on light to moderate demand. Compared to last week live cash trades moved 3.00 higher at 106.00. In Kansas negotiated cash trading has been inactive on very light demand. Not enough trades for a market trend. In the Northern Plains and Western Cornbelt negotiated cash trading has been at a standstill. The latest established market in Kansas, Northern Plains and Western Cornbelt was last week. In Kansas 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: 3,527 --- Week Ago: 548 --- Year Ago: 17,302

  

Formula Net - Dressed Steers & Heifers

Head count priced today: 29,300

Weighted avg weight:             886

Weighted avg net price:    167.14

        

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales Wednesday saw light trade develop with dressed sales and bids reported from 234.00-238.00 delivered. Bids and sales are have been reported in the upper 130's and are 0.50 higher than last week's weighted average price. All three Western Canadian packers are showing interest on the cash market.   

 

Livestock Slaughter under Federal Inspection:                                  

                                  Cattle       Calves     Hogs          Sheep

Thursday   (est)        117,000    2,000     489,000      7,000

Week ago (est)         117,000    2,000     490,000      7,000

Year ago (act)           121,000    2,000      462,000      8,000

Week to date (est)   467,000    8,000   1,957,000    31,000

Last Week (est)        467,000    8,000   1,878,000    31,000

Last Year (act)          475,000    9,000   1,860,000    32,000

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

                    Wednesday          90,000                      26,000

                                                     

Boxed Beef: 

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     212.06     187.21

Change from prior day:       -0.17       +1.31

Choice/Select spread:        24.85

Total Load Count (Cuts, Trimmings, Grinds): 164

  

Cutter Cow Cutout: 171.19… -0.56

  

CME Feeder Cattle Index: 142.92… -0.17

  

Futures…

Live Cattle:

October: 106.80… +0.75

December: 110.82… +0.20

February: 117.00… +0.20

Feeder Cattle:

October: 142.35… +0.28

November: 142.10… +0.43

January: 138.25… +0.25

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December Hogs: 68.10… -1.00

November Crude Oil: 52.45… -0.19

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December Corn: 3.8875… +0.0100

December Soybeans: 9.1175… -0.0200

December Wheat: 4.8875… -0.0025

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Grain Cash Bids:

Kansas City Corn: 3.76… +0.01

Kansas City Soybeans: 8.54… -0.02

Kansas City Wheat: 4.69… Unchanged

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Financial Markets:

Dow Jones Industrial Average: 26,201.04… +122.42

S & P 500: 2,910.63… +23.02

NASDAQ: 7,872.27… +87.02

U.S. Dollar Index: 98.89… -0.13