Oct 27 2021

Texas Daily Ag Market News Summary Posted 3 years 32 days ago by Administrator Account

Daily Market Summary for October 27^th

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Slaughter Cattle:

As of 3:00 PM Wednesday in the Southern Plains and the Western Cornbelt, negotiated cash trading has been slow with light demand. In the Texas Panhandle, compared to Tuesday, live purchases traded 2.00 higher at 126.00. In Kansas, compared to last week, live purchases traded 2.00 higher at 126.00. In the Western Cornbelt, compared to the prior week, live purchases traded 2.00 higher from 126.00-127.00 and dressed purchases traded 4.00 higher at 200.00. Thus far for Wednesday in Nebraska negotiated cash trading has been slow to moderate on good demand. Compared to last week live purchases traded 2.00-3.00 higher at 127.00 and dressed purchases traded 4.00 higher at 200.00. A light test purchases was noted in all regions.

 

The Fed Cattle Exchange Auction today listed a total of 2,692 head, of which 394 actually sold, 517 were scratched from the auction and 1,781 head were listed as unsold, as they did not meet the reserve prices ranging from $125 to $128. Opening prices were $124, high bids ranged from $124 to $125.75. The state-by-state breakdown looks like this: TX 1,530 total head, with 394 head sold at $125.50 to $125.75, 871 head went unsold and 265 were scratched from the auction; KS 840 total head, all of which went unsold; SD 252 total head, all of which were scratched from the auction. CA 70 total head, all of which went unsold.

 

Negotiated Sales:

Confirmed:        46,287    

Week Ago:         36,312

Year Ago:          18,193     

 

Formula Net

Dressed Steers & Heifers:

Head count priced today:   17,500

Weighted avg. weight:        894.00

Weighted avg. net price:    205.53 

 

Cattle Slaughter under Federal Inspection:

Wednesday (est)                 122,000

Week ago (est)                    121,000

Year ago (act)                     117,000

Week to Date                      366,000

Same Period Last Week     362,000

Same Period Last Year       352,000

Tuesday

Steers & Heifers:  96,000

Cows & Bulls:       26,000

 

Boxed Beef:

Cutout Values:

Choice: 283.63... -1.13

Select:  261.69… -0.85

Choice/Select Spread: 21.94

Total Load Count: 162

 

Cutter Cow Cutout:

229.69... -0.77

 

CME Feeder Cattle Index for October 26^th:

156.03… +0.53 / +0.34%

1 Year Change: +17.03%

52 Week Range: 130.15 to 159.56

 

Futures Settlements…

Live Cattle:

October: 127.22… -0.40

December: 131.57… +0.12

February: 136.95… +0.58   

 

Feeder Cattle:

October: 156.50… +0.53

November: 158.47… -1.30

January: 158.95… -1.65

 

December Hogs: 71.97… -0.60

December Crude Oil: 82.66… -1.99

December Corn: 5.5725… +0.1375

December Wheat: 7.5975… +0.0750 

 

Grain Cash Bids:

Omaha Corn: 5.47… +0.13

Kansas City Wheat: 7.50… +0.06

 

Financial Markets:

DJIA: 35,491.48… -262.31

S & P 500: 4,551.79… -22.69

NASDAQ: 15,235.84… -7.37

U.S. Dollar Index: 93.85… -0.09