Oct 18 2019

Texas Daily Market News Summary Posted 5 years 41 days ago by Administrator Account

Daily Market Summary for October 18th

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 Friday, trade was and demand was light in the Southern Plains. Compared to last week in the Texas Panhandle live purchases traded 1.00 lower at 108.00. In Kansas compared to last week, live purchases traded steady to 1.00 lower at 108.00. Trade and demand in Nebraska and the Western Cornbelt was light to moderate. In Nebraska compared to last week, early live purchases traded from 109.00-111.00, however not enough for an adequate market test. Dressed purchases compared to last week traded 1.00-3.00 higher from 173.00-175.00. Compared to last week in the Western Cornbelt, early live purchases traded steady to 1.00 higher from 109.00-110.00, bulk at 110.00. A few dressed purchases were reported mostly at 173.00

    

Negotiated Sales:

Confirmed: 42,859 --- Week Ago: 14,754 --- Year Ago: 8,372

  

Formula Net - Dressed Steers & Heifers

Head count priced today: 16,300

Weighted avg weight:             865

Weighted avg net price:    174.20

        

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales Thursday saw light trade develop with dressed sales marked at 242.00 delivered. Sales are 2.00 higher than the previous week. Buyers were indicating cattle that they bought this week would be lifted in three weeks. Cash to futures basis levels did weaken but stronger prices week over week did encourage producers to market cattle. Even though fed prices have rallied for 5 straight weeks cattle that are being sold are still losing money.  

  

Livestock Slaughter under Federal Inspection:                                  

                                  Cattle        Calves    Hogs           Sheep

Friday (est)              110,000     2,000       483,000      7,000

Week ago (est)       117,000     2,000       488,000      7,000

Year ago (act)          116,000     2,000      466,000      7,000

Week to date (est) 572,000   10,000   2,445,000    37,000

Last Week (est)       584,000   10,000   2,440,000    38,000

Last Year (act)         587,000   10,000   2,362,000    38,000

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

                         Thursday          88,000                     23,000  

                                                              

Boxed Beef: 

Boxed beef cutout values steady to firm on light to moderate demand and offerings. Select and Choice rib and loin cuts steady to weak while chuck and round cuts steady to firm. Beef trimmings unevenly steady on light to moderate demand and moderate offerings.

 

Cutout Values...                 Choice     Select

Current Cutout Values:     218.04     193.04

Change from prior day:        -0.07       +0.44

Choice/Select spread:          25.00

Total Load Count (Cuts, Trimmings, Grinds): 97

  

Cutter Cow Cutout: 169.85… -2.49

  

CME Feeder Cattle Index: 145.60… +0.45

  

Futures…

Live Cattle:

October: 110.47… -1.93

December: 113.62… -0.75

February: 119.07… -0.48

Feeder Cattle:

October: 143.50… -0.70

November: 142.85… -1.47

January: 139.45… -1.40

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December Hogs: 67.95… -0.20

November Crude Oil: 53.78… -0.15

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December Corn: 3.9100… -0.0375

December Soybeans: 9.3400… +0.0250

December Wheat: 5.3225… +0.0675

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Grain Cash Bids:

Kansas City Corn: 3.85… -0.03

Kansas City Soybeans: 8.83… +0.03

Kansas City Wheat: 5.20… +0.07

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Financial Markets:

Dow Jones Industrial Average: 26,770.47… -255.41

S & P 500: 2,986.21… -11.74

NASDAQ: 8,089.54… -67.31

U.S. Dollar Index: 97.27… -0.33