Oct 16 2019

Texas Daily Ag Market News Summary Posted 5 years 43 days ago by Administrator Account

Daily Market Summary for October 16th

  

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Slaughter Cattle:

As of 3:00 PM Wednesday, negotiated cash trade has been at a standstill in the Southern Plains and Nebraska. In the Western Cornbelt trade has been limited on light demand. A few live trades moved at 111.00 in the Western Cornbelt. However, not enough trades for a full 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: 1,874 --- Week Ago: 846 --- Year Ago: 25,781

  

Formula Net - Dressed Steers & Heifers

Head count priced today: 23,500

Weighted avg weight:             863

Weighted avg net price:    176.05

        

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. This week's showlist has been compiled with volumes smaller than the previous week. It sounds like at least one western Canadian packer will operate on Saturday to make up for the Thanksgiving Day holiday. Last week on a cash to cash basis Alberta fed prices were at 4.00 discount against the Nebraska market. 

  

Livestock Slaughter under Federal Inspection:                                  

                                   Cattle        Calves    Hogs           Sheep

Wednesday (est)     116,000    2,000      490,000     7,000

Week ago (est)        117,000    2,000      490,000      7,000

Year ago (act)          119,000    2,000      478,000      7,000

Week to date (est)  351,000    6,000   1,471,000    22,000

Last Week (est)       350,000    6,000   1,463,000    24,000

Last Year (act)         355,000    6,000   1,418,000    23,000

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

                        Tuesday           92,000                     26,000

                                                            

Boxed Beef: 

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     218.28     191.37

Change from prior day:       +0.26        -0.11

Choice/Select spread:          26.91

Total Load Count (Cuts, Trimmings, Grinds): 154

  

Cutter Cow Cutout: 169.95… -0.93

  

CME Feeder Cattle Index: 145.12… +0.03

  

Futures…

Live Cattle:

October: 112.35… +1.35

December: 113.87… +0.42

February: 119.60… +0.05

Feeder Cattle:

October: 145.22… +0.22

November: 145.92… -0.15

January: 142.37… +0.20

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December Hogs: 70.62… -1.50

November Crude Oil: 53.36… +0.55

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December Corn: 3.9175… -0.0150

December Soybeans: 9.2800… -0.0600

December Wheat: 5.1325… +0.0625

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Grain Cash Bids:

Kansas City Corn: 3.81… -0.02

Kansas City Soybeans: 8.77… -0.06

Kansas City Wheat: 5.01… +0.05

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Financial Markets:

Dow Jones Industrial Average: 27,003.20… -21.60

S & P 500: 2,989.87… -5.81

NASDAQ: 8,124.18… -24.53

U.S. Dollar Index: 98.00… -0.28