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Oct
30
2019

Texas Daily Ag Market Summary

Posted 4 years 174 days ago by Administrator Account

Daily Market Summary for October 30th

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 Wednesday, negotiated cash trading has been slow on light demand in the Southern Plains. Compared to last week the bulk of live cash trades moved 2.00 higher at 112.00. In Nebraska and Western Cornbelt negotiated cash trading has been inactive on very light demand. Not enough trades in these regions for a market trend. 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: 8,116 --- Week Ago: 3,732 --- Year Ago: 1,543

  

Formula Net - Dressed Steers & Heifers

Head count priced today: 26,700
Weighted avg weight:             886
Weighted avg net price:    178.51

           

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 improved since Monday. There have been rumblings packers are bidding in the mid 230's on a dressed basis. Bids are positioned at the bottom end of last week's trading range. Given strength in the US cash market many producers here locally will be looking for higher prices.

  

Livestock Slaughter under Federal Inspection:                                  

                                  Cattle       Calves    Hogs         Sheep
Wednesday (est)   117,000    2,000      474,000      7,000
Week ago (est)       118,000    2,000      491,000      8,000
Year ago (act)         121,000    3,000      477,000      7,000
Week to date (est)  348,000    6,000   1,455,000    25,000
Last Week (est)       355,000    6,000   1,471,000    26,000
Last Year (act)         358,000    7,000   1,410,000    23,000
Previous Day Estimated   Steers & Heifers --- Cows & Bulls 
                        Tuesday           87,000                     26,000

                                                                                 

Boxed Beef: 

Boxed beef cutout values weak on Choice and sharply higher on Select on light to moderate demand and offerings. Select and Choice round cuts steady to firm while chuck cuts firm to higher. Select rib and loin cuts firm to higher while Choice cuts weak to lower. Beef trimmings mostly sharply lower on light demand and offerings.
 
Cutout Values...                 Choice     Select
Current Cutout Values:     230.05     206.67
Change from prior day:        -0.50       +3.10
Choice/Select spread:          23.38
Total Load Count (Cuts, Trimmings, Grinds): 113

  

Cutter Cow Cutout: 173.26… +0.81

  

CME Feeder Cattle Index: 145.08… +0.25

  

Futures…

Live Cattle:
October: 113.87… +0.02
December: 118.30… +1.48
February: 123.10… +1.13
Feeder Cattle:
October: 146.02… +0.60
November: 147.87… +2.40
January: 144.80… +3.20
---
December Hogs: 65.77… +1.45
December Crude Oil: 55.06… -0.48
---
December Corn: 3.9075… +0.0450
December Soybeans: 9.1600… -0.0225
December Wheat: 5.0925… -0.0225
---
Grain Cash Bids:
Kansas City Corn: 3.91… +0.07
Kansas City Soybeans: 8.72… Unchanged
Kansas City Wheat: 4.97… -0.02
---

Financial Markets:

Dow Jones Industrial Average: 27,186.69… +115.27
S & P 500: 3,046.77… +9.88
NASDAQ: 8,303.98… +27.13
U.S. Dollar Index: 97.52… -0.17





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