Oct 15 2019

Texas Daily Ag Market Summary Posted 5 years 44 days ago by Administrator Account

Daily Market Summary for October 15th

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Slaughter Cattle:

As of 3:00 PM Tuesday, negotiated cash trade has been at a standstill in the Southern Plains and Nebraska. In the Western Cornbelt trade has been mostly inactive on light demand. Not enough trades for a market trend. 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 traded mostly from 109.00-110.50. Dressed purchases traded at 172.00. For the previous week in the Western Cornbelt, live purchases traded mostly at 109.00 an with dressed purchases mostly at 172.00.

    

Negotiated Sales:

Confirmed: 150 --- Week Ago: 204 --- Year Ago: 2,451

  

Formula Net - Dressed Steers & Heifers

Head count priced today: 39,900

Weighted avg weight:             867

Weighted avg net price:    172.39

        

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales last week saw light trade develop with weighted average steer and heifer prices closing the week at 142.50 and 141.25 respectively. Prices are 1.00-2.00 higher than the previous week. From their lows in September fed prices have rallied 6.00. Looking at the non-fed market butcher cows traded fully steady through commercial auction facilities last week. Over the past couple of weeks Alberta D1, D2 cow prices have been trading at a 6.00-7.00 premium against the US utility cow market.

  

Livestock Slaughter under Federal Inspection:                                  

                                   Cattle        Calves    Hogs           Sheep

Tuesday    (est)      118,000    2,000     490,000      8,000

Week ago (est)       117,000    2,000     489,000      8,000

Year ago (act)         121,000    2,000     479,000      8,000

Week to date (est)  235,000    4,000     981,000    15,000

Last Week (est)       233,000    4,000     973,000    17,000

Last Year (act)         236,000    4,000     940,000    16,000

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

                           Monday          93,000                      24,000

                                                         

Boxed Beef: 

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     218.02     191.48

Change from prior day:       +0.80       +2.15

Choice/Select spread:          26.54

Total Load Count (Cuts, Trimmings, Grinds): 160

  

Cutter Cow Cutout: 170.88… +0.06

  

CME Feeder Cattle Index: 144.27

  

Futures…

Live Cattle:

October: 111.00… +0.38

December: 113.45… Unchanged

February: 119.55… +0.28

Feeder Cattle:

October: 145.00… -0.55

November: 146.07… Unchanged

January: 142.17… -0.05

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December Hogs: 72.12… +3.00

November Crude Oil: 52.81… -0.78

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December Corn: 3.9325… -0.0450

December Soybeans: 9.3400… -0.0650

December Wheat: 5.0700… -0.0400

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Grain Cash Bids:

Kansas City Corn: 3.83… -0.03

Kansas City Soybeans: 8.83… -0.02

Kansas City Wheat: 4.96… +0.01

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Financial Markets:

Dow Jones Industrial Average: 27,025.07… +237.71

S & P 500: 2,995.68… +29.53

NASDAQ: 8,148.71… +100.06

U.S. Dollar Index: 98.29… -0.17