Oct 10 2019

Texas Daily AG Market Summary Posted 5 years 49 days ago by Administrator Account

Daily Market Summary for October 10th

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Slaughter Cattle:

As of 3:00 PM Thursday, negotiated cash trading has been at a standstill in the Southern Plains and Colorado. In Nebraska and the Western Cornbelt trading has been inactive on very light demand. 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 107.00-108.00 with dressed purchases at 170.00.

    

Negotiated Sales:

Confirmed: 1,873 --- Week Ago: 3,527 --- Year Ago: 44,729

  

Formula Net - Dressed Steers & Heifers

Head count priced today: 18,500

Weighted avg weight:             870

Weighted avg net price:    172.44

        

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales Wednesday saw no new trade to report. There have been rumblings a 240.00 delivered bid is out there. If this is true, bids are 2.00 higher than the previous week. Based on the five-year average from the beginning of October to the beginning of November fed prices strengthen around 5.00. There are some big cattle out there that will have to be marketed this week. Packers are not overly long bought which has moderated selling pressure. 

   

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       489,000     7,000

Year ago (act)          119,000    2,000      476,000      8,000

Week to date (est) 467,000    8,000   1,952,000    31,000

Last Week (est)       467,000    8,000   1,957,000    31,000

Last Year (act)         473,000   10,000   1,868,000    31,000

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

                     Wednesday          91,000                     26,000

                                                       

Boxed Beef: 

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     215.63     186.66

Change from prior day:      +1.03       +0.54

Choice/Select spread:        28.97

Total Load Count (Cuts, Trimmings, Grinds): 105

  

Cutter Cow Cutout: 170.66… +0.86

  

CME Feeder Cattle Index: 144.59… +0.14

  

Futures…

Live Cattle:

October: 108.72… +0.25

December: 111.42… +0.25

February: 117.27… -0.03

Feeder Cattle:

October: 144.30… -0.20

November: 144.12… -0.13

January: 140.42… +0.90

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December Hogs: 68.47… -1.00

November Crude Oil: 53.55… +0.96

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December Corn: 3.8025… -0.1400

December Soybeans: 9.2350… -0.0025

December Wheat: 4.9300… -0.0725

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Grain Cash Bids:

Kansas City Corn: 3.69… -0.14

Kansas City Soybeans: 8.66… Unchanged

Kansas City Wheat: 4.81… -0.07

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Financial Markets:

Dow Jones Industrial Average: 26,496.67... +150.66

S & P 500: 2,938.13... +18.73

NASDAQ: 7,950.78... +47.04

U.S. Dollar Index: 98.69... -0.43