Oct 23 2019

Texas Daily Market News Summary Posted 5 years 36 days ago by Administrator Account

Daily Market Summary for October 23rd 

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Slaughter Cattle:

As of 3:00 PM Wednesday, negotiated cash trade was limited on light to moderate demand in all feeding regions. A very limited amount of early live purchases in the Southern Plains and Nebraska were reported at 109.00. However, 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 Southern Plains at 108.00. Last week in Nebraska, live purchases traded from 109.00-111.00 with dressed purchases mostly from 173.00-175.00. In the Western Cornbelt for the previous week, live purchases traded from 110.00-111.00 with a light test of dressed purchases from 173.00-175.00.

    

Negotiated Sales:

Confirmed: 3,732 --- Week Ago: 1,874 --- Year Ago: 1,661

  

Formula Net - Dressed Steers & Heifers

Head count priced today: 19,900

Weighted avg weight:           863

Weighted avg net price:  176.79

           

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 eased since Monday. Earlier in the week there were rumblings that steady money was being bid. Last Friday, Canfax released its October 1st cattle on feed report. Placements for the month of September were steady with last year while fed cattle marketing were up over 10% compared to last year. Cattle on feed inventories are now below last year. This is the first time since May 2018 on feed inventories have been below last year.   

  

Livestock Slaughter under Federal Inspection:                                  

                                  Cattle        Calves    Hogs           Sheep

Wednesday (est)    118,000    2,000      491,000      8,000

Week ago (est)        116,000    2,000      490,000      7,000

Year ago (act)          119,000    3,000      477,000      6,000

Week to date (est) 355,000    6,000   1,471,000    26,000

Last Week (est)       351,000    6,000   1,471,000    22,000

Last Year (act)         357,000    7,000   1,426,000    22,000

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

                        Tuesday           92,000                    27,000

                                                                

Boxed Beef: 

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

 

Cutout Values...       Choice     Select

Current Cutout Values:     223.28     198.94

Change from prior day:      +2.35      +0.86

Choice/Select spread:        24.34

Total Load Count (Cuts, Trimmings, Grinds): 109

  

Cutter Cow Cutout: 169.90… -0.36

  

CME Feeder Cattle Index: 144.93

  

Futures…

Live Cattle:

October: 110.20… +0.33

December: 115.25… +1.55

February: 120.42… +1.32

Feeder Cattle:

October: 145.02… +1.32

November: 144.75… +1.25

January: 141.20… +1.40

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December Hogs: 65.82… +0.32

December Crude Oil: 55.97… +1.49

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December Corn: 3.8775… -0.0025

December Soybeans: 9.3375… -0.0025

December Wheat: 5.2075… +0.0275

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Grain Cash Bids:

Kansas City Corn: 3.83… Unchanged

Kansas City Soybeans: 8.86… +0.03

Kansas City Wheat: 5.08… +0.02

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Financial Markets:

Dow Jones Industrial Average: 26,833.95… +45.85

S & P 500: 3,004.52… +8.53

NASDAQ: 8,119.79… +15.49

U.S. Dollar Index: 97.46… -0.06