Oct 29 2019

Texas Daily Market News Summary Posted 5 years 30 days ago by Administrator Account

Daily Market Summary for October 29th

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Slaughter Cattle:

As of 3:00 PM Tuesday, negotiated cash trading has been inactive on very light demand in Kansas and Nebraska. Not enough trades in these regions for a market trend. In the Texas Panhandle and Western Cornbelt negotiated cash trading has been at a standstill. 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: 413 --- Week Ago: 418 --- Year Ago: 1,477

  

Formula Net - Dressed Steers & Heifers

Head count priced today: 21,800

Weighted avg weight:            871

Weighted avg net price:   175.99

           

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales Monday saw no new trade to report. This week's showlist has been compiled with volumes smaller than the previous week. Last week on a dressed basis Alberta fed prices were trading at a slight premium against the Ontario market. Looking at the most recent weekly live cattle export data. Canadian fed cattle and cow export volumes to the US totaled just over 9,400 head, volumes are 2% smaller compared to the same week last year. Total live cattle exports including feeders, fed cattle, cow, bulls and breeding stock are up 14% compared to last year.

  

Livestock Slaughter under Federal Inspection:                                  

                                  Cattle       Calves    Hogs         Sheep

Tuesday (est)          117,000    2,000     490,000      9,000

Week ago (est)       119,000    2,000     492,000      9,000

Year ago (act)         119,000    2,000     463,000      9,000

Week to date (est)  235,000    4,000     981,000    18,000

Last Week (est)       237,000    4,000     980,000    18,000

Last Year (act)         237,000    4,000     933,000    16,000

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

                           Monday           93,000                     25,000

                                                                            

Boxed Beef: 

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     230.55     203.57

Change from prior day:       +2.65     +2.81

Choice/Select spread:         26.98

Total Load Count (Cuts, Trimmings, Grinds): 108

  

Cutter Cow Cutout: 172.45… -2.13

  

CME Feeder Cattle Index: 144.83… +0.48

  

Futures…

Live Cattle:

October: 113.35… +0.48

December: 116.82… +0.22

February: 121.97… +0.25

Feeder Cattle:

October: 145.42… +0.02

November: 145.47… -0.25

January: 141.60… Unchanged

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December Hogs: 64.32… -1.33

December Crude Oil: 55.54… -0.27

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December Corn: 3.8625… +0.0225

December Soybeans: 9.1825… -0.0250

December Wheat: 5.1150… -0.0025

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Grain Cash Bids:

Kansas City Corn: 3.84… +0.02

Kansas City Soybeans: 8.72… -0.02

Kansas City Wheat: 4.99… Unchanged

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Financial Markets:

Dow Jones Industrial Average: 27,070.60… -20.12

S & P 500: 3,036.85… -2.57

NASDAQ: 8,276.85… -49.14

U.S. Dollar Index: 97.70… -0.06