Oct 12 2022

Texas Daily Ag Market News Summary Posted 2 years 46 days ago by Administrator Account

Daily Market Summary for October 12th

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Slaughter Cattle:

As of 3:00 PM Wednesday in the Southern Plains and Nebraska, negotiated cash trading has been at a standstill. In the Southern Plains last week live purchases traded at 144.00. In Nebraska for the prior week live and dressed purchases traded from 145.00-148.00 and at 230.00, respectively. In the Western Cornbelt negotiated cash trading has been limited on light demand, not enough purchases for full a market trend. In the Western for the prior week live and dressed purchases traded from 145.00-149.00 and at 230.00, respectively.

Negotiated Sales:

Confirmed:          1,868

Week Ago:           5,201

Year Ago:           39,039

Formula Net - Dressed Steers & Heifers:

Head count priced today:   15,500

Weighted avg. weight:         873.00

Weighted avg. net price:     232.22

 

Cattle Slaughter under Federal Inspection

Wednesday (est)                 128,000

Week ago (est)                     128,000

Year ago (act)                       118,000

Week to Date                       384,000

Same Period Last Week     383,000

Same Period Last Year       356,000

Tuesday:

Steers & Heifers:       102,000

Cows & Bulls:             28,000

 

Boxed Beef:

Cutout Values:

Choice: 246.66… -0.09

Select:  214.26… +1.41

Choice/Select Spread: 32.40

Total Load Count: 128

 

Cutter Cow Cutout:

203.85… -2.72

 

CME Feeder Cattle Index for October 11th:

175.04… +0.40 / +0.23%

1 Year Change: +13.47%

52 Week Range: 152.31 to 183.16

 

Futures Settlements…

Live Cattle:

October: 146.17… +0.37

December: 148.45… -0.12

February: 152.12… +0.25

 

Feeder Cattle:

September: 175.50… +0.43

October: 176.67… +0.47

November: 176.90… +0.18

 

December Hogs: 80.70… +1.18

November Crude Oil: 87.27… -2.08

 

December Corn: 6.9300… Unchanged

December Wheat: 8.8225… -0.1875

 

Grain Cash Bids:

Omaha Corn: 7.08… Unchanged

Kansas City Wheat: 9.35… -0.16

 

Financial Markets:

DJIA: 29,210.52… -28.14

S & P 500: 3,576.88… -11.82

NASDAQ: 10,414.77… -11.42

U.S. Dollar Index: 113.27… +0.05