Oct 25 2019

Texas Daily Ag Market News Summary Posted 5 years 34 days ago by Administrator Account

Daily Market Summary for October 25th

The Daily Market News Report bought to you by The Cattle Range. Please visit their website for more information!

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Slaughter Cattle:

As of 3:00 PM Friday, trade as light on moderate demand in Kansas, Nebraska and the Western Cornbelt. Trade was inactive on light to moderate demand in the Texas Panhandle. Not enough purchases in any feeding regions for and adequate market test. The latest established market was on Thursday with live purchases in the Southern Plains at 110.00. Last week in Nebraska live purchases traded from 109.00-111.00. On Thursday dressed purchases traded at 175.00 in Nebraska. On Thursday in the Western Cornbelt, early live purchases traded from 110.00111.00, bulk at 110.00 with a light test of dressed from 174.00-175.00.

   

Negotiated Sales:

Confirmed: 12,486 --- Week Ago: 42,859 --- Year Ago: 102,764

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 23,300

Weighted avg weight:             882

Weighted avg net price:    174.95

          

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales so far this week have seen light trade develop with dressed sales ranging from 235.00-240.00 delivered. Sales are 2.00-7.00 lower than last week. All three western Canadian packers have bought cattle this week. Most of the cattle that traded this week would not be picked up until the middle of November. On a cash to cash basis Alberta fed prices remain at a discount against the Nebraska market. Using a 110.00 Nebraska price, Alberta fed prices are sitting at roughly a 2.00 discount against the Nebraska market. 

 

Livestock Slaughter under Federal Inspection:                                  

                                   Cattle        Calves    Hogs          Sheep

Friday (est)               108,000     2,000      478,000      4,000

Week ago (est)        107,000     2,000      483,000      7,000

Year ago (act)          107,000     3,000      464,000      7,000

Week to date (est)  581,000   10,000   2,440,000    38,000

Last Week (est)       569,000   10,000   2,445,000    37,000

Last Year (act)         582,000   12,000   2,366,000    36,000

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

                      Thursday           91,000                     27,000

                                                                 

Boxed Beef:

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     225.44     199.84

Change from prior day:        -0.18       +0.75

Choice/Select spread:          25.60

Total Load Count (Cuts, Trimmings, Grinds): 83

 

Cutter Cow Cutout: 175.91… +6.62

 

CME Feeder Cattle Index: 144.73… -0.23

 

Futures…

Live Cattle:

October: 111.97… +1.55

December: 116.07… +1.35

February: 121.07… +1.02

Feeder Cattle:

October: 145.70… +0.48

November: 145.37… +1.20

January: 141.60… +1.03

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December Hogs: 64.92… +0.37

December Crude Oil: 56.66… +0.43

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December Corn: 3.8675… Unchanged

December Soybeans: 9.2025… -0.1300

December Wheat: 5.1775… +0.0175

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Grain Cash Bids:

Kansas City Corn: 3.84… +0.02

Kansas City Soybeans: 8.79… -0.07

Kansas City Wheat: 5.05… +0.01

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Financial Markets:

Dow Jones Industrial Average: 26,956.84… +151.31

S & P 500: 3,022.39… +12.10

NASDAQ: 8,243.12… +57.32

U.S. Dollar Index: 97.84… +0.21