Oct 14 2019

Texas Daily Ag Market News Summary Posted 5 years 45 days ago by Administrator Account

Daily Market Summary for October 14th

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Slaughter Cattle:

As of 3:00 PM Monday negotiated cash trade was mostly 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 at 109.00. In Kansas last week, live purchases traded from 108.00-109.00, with a few up to 110.00. In Nebraska last week, live purchases trade from 109.00-111.00, bulk from 109.00-110.50. Dressed purchases traded at 172.00. In Colorado last week, a very light test of live purchases traded from 108.00-111.00. For the previous week in the Western Cornbelt, live purchases traded from 108.00-110.00.  Bulk at 109.00 with dressed purchases from 170.00-172.00, bulk at 172.00.

    

Negotiated Sales:

Confirmed: 598 --- Week Ago: 104 --- Year Ago: 78

  

Formula Net - Dressed Steers & Heifers

Head count priced today: 23,600

Weighted avg weight:             869

Weighted avg net price:    171.79

        

Alberta Beef Producers Daily Report: Alberta CA - Friday

Alberta direct cattle sales Thursday saw light trade develop with dressed sales marked at 240.00 delivered. Sales are 2.00 higher than the previous week. Buying interest was noted from all three western Canadian packers. This is the fourth consecutive week of higher fed cattle prices, tentatively prices are at the highest point since mid August. Some cattle that traded this week would not be picked up until early November. Cash to futures basis levels did weaken. Sale volumes are shaping up rather light this week and some cattle will be carried into next week.   

      

Livestock Slaughter under Federal Inspection:                                  

                                   Cattle        Calves    Hogs           Sheep

Monday (est)           117,000       2,000      491,000    7,000

Week ago (est)        116,000       2,000     484,000     9,000

Year ago (act)          115,000       2,000     461,000     8,000

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

                               Friday         94,000                      23,000

                          Saturday         50,000                      11,000

                                                       

Boxed Beef: 

Based on negotiated prices and volume of boxed beef cuts delivered within 0-21 days and on average industry cutting yields.  Values reflect U.S. dollars per 100 pounds.

 

Cutout Values...                 Choice     Select

Current Cutout Values:     217.22     189.33

Change from prior day:      +1.56      +0.65

Choice/Select spread:        27.89

Total Load Count (Cuts, Trimmings, Grinds): 82

  

Cutter Cow Cutout: 170.82… -0.92

  

CME Feeder Cattle Index: 144.27… +0.64

  

Futures…

Live Cattle:

October: 110.62… +1.17

December: 113.45… +1.30

February: 119.27… +1.22

Feeder Cattle:

October: 144.55… +1.45

November: 146.07… +1.82

January: 142.22… +1.75

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December Hogs: 69.12… -0.48

November Crude Oil: 53.59… -1.11

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December Corn: 3.9775… Unchanged

December Soybeans: 9.4050… +0.0450

December Wheat: 5.11… +0.0300

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Grain Cash Bids: - Friday… Not reported on Monday

Kansas City Corn: 3.86… +0.17

Kansas City Soybeans: 8.85… +0.19

Kansas City Wheat: 4.96… 0.15

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Financial Markets:

Dow Jones Industrial Average: 26,787.29… -29.30

S & P 500: 2,966.15… -4.12

NASDAQ: 8,048.65… -8.39

U.S. Dollar Index: 98.52… +0.22