Oct 08 2019

Texas Daily Market News Summary Posted 5 years 51 days ago by Administrator Account

Daily Market Summary for October 8th

  

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Slaughter Cattle:

As of 3:00 PM Tuesday, negotiated cash trade was inactive on light demand in all feeding regions. The latest established market in any feeding region was last week, with live purchases in the Texas Panhandle from 106.00-107.00. In Kansas last week, live purchases traded at 107.00. In Nebraska last week, live purchases traded from 107.00-109.00 with dressed purchases at 170.00. In Colorado for the previous week live purchases traded at 109.00. For the previous week in the Western Cornbelt, live purchases traded from 107.00-189.00 with dressed purchases at 170.00.

    

Negotiated Sales:

Confirmed: 204 --- Week Ago: 114 --- Year Ago: 845

  

Formula Net - Dressed Steers & Heifers

Head count priced today: 26,700

Weighted avg weight:             863

Weighted avg net price:    170.34

        

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. Last week on a cash to cash basis Alberta fed prices were at a 3.00 discount against the Nebraska market. Western Canadian fed slaughter for the week ending September 28th totaled just over 49,000 head. This is the second largest weekly slaughter volume seen this year. Fed cattle supplies are being worked through very aggressively. Seasonally fed cattle prices trend higher right up until the end of the year.

   

Livestock Slaughter under Federal Inspection:                                  

                                   Cattle       Calves     Hogs          Sheep

Tuesday (est)          117,000    2,000     489,000      8,000

Week ago (est)        117,000    2,000     490,000      8,000

Year ago (act)          120,000    3,000     452,000      9,000

Week to date (est)  233,000    4,000     973,000    17,000

Last Week (est)       234,000    4,000     979,000    17,000

Last Year (act)         234,000    5,000     925,000    15,000

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

                           Monday          92,000                      24,000

                                                     

Boxed Beef: 

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     213.60     187.06

Change from prior day:        +2.51       +1.15

Choice/Select spread:          26.54

Total Load Count (Cuts, Trimmings, Grinds): 125

  

Cutter Cow Cutout: 171.08… -0.72

  

CME Feeder Cattle Index: 144.43... 

  

Futures…

Live Cattle:

October: 108.17… -0.08

December: 110.85… -0.35

February: 116.70… +0.30

Feeder Cattle:

October: 142.02… +0.32

November: 141.25… +0.32

January: 136.75… +0.35

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December Hogs: 67.40… +3.15

November Crude Oil: 52.63… -0.12

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December Corn: 3.9575… +0.0875

December Soybeans: 9.2050… +0.0525

December Wheat: 5.0025… +0.1100

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Grain Cash Bids:

Kansas City Corn: 3.83… +0.08

Kansas City Soybeans: 8.61… +0.06

Kansas City Wheat: 4.88… +0.11

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Financial Markets:

Dow Jones Industrial Average: 26,164.04… -313.98

S & P 500: 2,893.05… -45.74

NASDAQ: 7,823.78… -132.51

U.S. Dollar Index: 99.15… -0.18