Oct 09 2019

Texas Daily Market News Summary Posted 5 years 50 days ago by Administrator Account

Daily Market Summary for October 9th

The Daily Market News Report is brought to you by The Cattle Range. Please visit https://www.cattlerange.com/comprehensive-cattle-market-reports-analysis/daily-summary/ for more information!

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Slaughter Cattle:

As of 3:00 PM Wednesday, negotiated cash trade was mostly inactive on light demand in all feeding regions. Not enough purchases in any feeding region for an adequate market test. 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: 846 --- Week Ago: 1,801 --- Year Ago: 9,771

  

Formula Net - Dressed Steers & Heifers

Head count priced today: 27,500

Weighted avg weight:             881

Weighted avg net price:    169.72

        

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. Looking at the most recent beef export data. Canadian AAA cutout values are trading 6% higher than last year while AA cutout values are 2%. Canadian cutout values are trading at a 4.00-9.00 discount compared to US Choice and Select prices.

   

Livestock Slaughter under Federal Inspection:                                  

                                  Cattle       Calves    Hogs          Sheep

Wednesday   (est)   117,000    2,000     490,000     7,000

Week ago (est)        116,000    2,000     489,000     7,000

Year ago (act)          120,000    3,000     467,000     8,000

Week to date (est)  350,000    6,000   1,463,000    24,000

Last Week (est)       350,000    6,000   1,468,000    24,000

Last Year (act)         354,000    8,000   1,392,000    23,000

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

                         Tuesday           92,000                    25,000

                                                       

Boxed Beef: 

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     214.60     186.12

Change from prior day:       +1.00        -0.94

Choice/Select spread:          28.48

Total Load Count (Cuts, Trimmings, Grinds): 171

  

Cutter Cow Cutout: 169.80… -1.18

  

CME Feeder Cattle Index: 144.45... +0.04

  

Futures…

Live Cattle:

October: 108.47… +0.30

December: 111.17… +0.32

February: 117.30… +0.60

Feeder Cattle:

October: 144.50… +2.48

November: 144.25… +3.00

January: 139.52… +2.77

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December Hogs: 69.47… +2.07

November Crude Oil: 52.59… -0.04

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December Corn: 3.9425… +0.0150

December Soybeans: 9.2375… +0.0325

December Wheat: 5.0025… Unchanged

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Grain Cash Bids:

Kansas City Corn: 3.83… Unchanged

Kansas City Soybeans: 8.66… +0.05

Kansas City Wheat: 4.88… Unchanged

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Financial Markets:

Dow Jones Industrial Average: 26,346.14… +182.10

S & P 500: 2,919.40… +26.35

NASDAQ: 7,903.74… +79.96

U.S. Dollar Index: 99.12… -0.01