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Sep
11
2018

Texas Daily Ag Market News Summary

Posted 5 years 220 days ago by Administrator Account

Daily Market Summary for September 11th

The Daily Market News Report bought to you by The Cattle Range. Please visit https://cattlerange.com/cattle-market-reports-analysis/daily-summary/ for more information!

Slaughter Cattle:

Thus far for Tuesday negotiated cash trading has been at a standstill in the Southern and Northern Plains. In the Western Cornbelt trading has been inactive on very light demand. Not enough trades for a market trend. Last week in the Southern Plains and Colorado live cash trades moved at 108.00. For the prior week in Nebraska live cash trades moved mostly from 107.00-108.00 and dressed cash trades moved at 170.00. For the previous week in the Western Cornbelt live cash trades moved from 107.00-108.50 and dressed cash trades moved mostly at 170.00.

Negotiated Sales:

Confirmed: 836 Week Ago: 316 Year Ago: 852

Formula Net - Dressed Steers & Heifers

Head count priced today: 24,600

Weighted avg weight: 857.00

Weighted avg net price: 170.67

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Monday saw no new trade to report. This week's showlist has been compiled with volumes larger than the previous week. Looking at the most recent weekly export data. Canadian fed cattle and cow exports to the US totaled 6,992 head. Volumes are 20% lower than the same week last year. Most of the Canadian fed cattle being exported to the US are contract cattle.

Livestock Slaughter under Federal Inspection:

CATTLE CALVES HOGS SHEEP

Tuesday (est 119,000 2,000 469,000 9,000

Week ago (est) 115,000 2,000 463,000 7,000

Year ago (act) 117,000 2,000 455,000 9,000

Week to date (est) 238,000 4,000 928,000 16,000

Last Week (est) 117,000 2,000 465,000 7,000

Last Year (act) 232,000 4,000 911,000 17,000

Boxed Beef:

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

Cutout Values... Choice Select

Current Cutout Values: 206.07 198.31

Change from prior day: -0.23 -0.62

Choice/Select spread: 7.76

Futures Summary:

CME Feeder Cattle Index: 152.09… -0.55

October Live Cattle Futures: 109.30… -0.85

December Live Cattle Futures: 113.92… -0.50

February Live Cattle Futures: 118.40… -0.12

September Feeder Cattle Futures: 152.12… -0.40

October Feeder Cattle Futures: 152.45… -0.22

November Feeder Cattle Futures: 152.42… -0.45

September Hog Futures: 54.47… -1.48

Nearby Crude Oil Futures Contract: 69.25… +1.71

National Grain Market Summary:

Compared to yesterday, cash bids for wheat, soybeans, sorghum were lower, while corn was mixed. Despite trades expectations and seasonal tendencies, corn and soybean condition ratings both increased in the release and both stand at 68% good to excellent. The maturity of both the corn and soybean crops remain well above last year’s crops and the average for this date. This week’s report also showed the first harvest progress for corn at 5% which is above the average for this date of 3% but equal to last year’s pace.