Oct 28 2019

Texas Daily Market News Summary Posted 5 years 31 days ago by Administrator Account

Daily Market Summary for October 28th

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!

---

Slaughter Cattle:

As of 3:00 PM Monday, negotiated cash trading has been at a standstill in all major feeding regions. Last week in the Southern Plains live cash trades moved at 110.00. For the prior week in Nebraska and Western Cornbelt live cash trades moved mostly at 110.00 and dressed cash trades moved mostly at 175.00.

    

Negotiated Sales:

Confirmed: 105 --- Week Ago: 188 --- Year Ago: 23

  

Formula Net - Dressed Steers & Heifers

Head count priced today: 42,400

Weighted avg weight:            877

Weighted avg net price:   173.80

           

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 in the low 140.00's. Marketing pressure was evident as there was some big cattle that had to be marketed.  Looking at the non-fed market butchers cow traded steady to 0.50 higher through commercial auction facilities. Butcher cow and bull prices are trading 5.00-7.00 higher than last year. 

  

Livestock Slaughter under Federal Inspection:                                  

                                   Cattle        Calves    Hogs          Sheep

Monday (est)            118,000    2,000     491,000     9,000

Week ago (est)         118,000    2,000     488,000     9,000

Year ago (act)          118,000    2,000     470,000     7,000

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

                            Friday          83,000                      25,000

                       Saturday          47,000                      12,000

                                                                        

Boxed Beef: 

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     227.90     200.76

Change from prior day:       +2.46       +0.92

Choice/Select spread:          27.14

Total Load Count (Cuts, Trimmings, Grinds): 81

  

Cutter Cow Cutout: 174.58… -1.33

  

CME Feeder Cattle Index: 144.35… -0.41

  

Futures…

Live Cattle:

October: 112.87… +0.90

December: 116.60… +0.53

February: 121.72… +0.65

Feeder Cattle:

October: 145.40… -0.30

November: 145.72… +0.35

January: 141.60… Unchanged

---

December Hogs: 65.65… +0.73

December Crude Oil: 55.81… -0.85

---

December Corn: 3.8400… -0.0275

December Soybeans: 9.2075… +0.0050

December Wheat: 5.1175… -0.0600

---

Grain Cash Bids:

Kansas City Corn: 3.82… -0.02

Kansas City Soybeans: 8.74… Unchanged

Kansas City Wheat: 4.99… -0.06

---

Financial Markets:

Dow Jones Industrial Average: 27,090.72… +132.66

S & P 500: 3,039.42… +16.87

NASDAQ: 8,325.99… +82.87

U.S. Dollar Index: 97.72… -0.11