Texas Daily Ag Market News Summary

Posted 264 days ago ago by Administrator Account

Daily Market Summary for September 25th  

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Slaughter Cattle:  

Tuesday negotiated cash trade was light on light to moderate demand in Nebraska and the Western Cornbelt. A few early live purchases were reported at 110.50 in both regions, however not enough for an adequate market trend. Trade was at a standstill in all other feeding regions. The latest established market was last week with live purchases in the Southern Plains at 111.00. In Nebraska last week, live purchases traded mostly at 110.50 with dressed purchase at 175.00. Last week in Colorado, live purchases traded from 110.50-111.00 on a light test. In the Western Cornbelt last week, live purchases traded mostly at 110.00 with dressed purchases mostly at 175.00.


Negotiated Sales:

Confirmed: 9,721    Week Ago: 347    Year Ago: 465


Formula Net - Dressed Steers & Heifers

Head count priced today: 24,400
Weighted avg weight:       863.00
Weighted avg net price:    176.06


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 steady with the previous week. Last week on a cash to cash basis Alberta fed prices were at a 3.50 premium over the Nebraska market. Cow slaughter volumes continue to be large for this time of year. Western Canadian cow slaughter volumes for the week ending September 15th totaled just over 7,400 head. For the middle of September this is the largest weekly cow slaughter volume since 2011.


Livestock Slaughter under Federal Inspection:                                  

                                  CATTLE     CALVES   HOGS        SHEEP
Tuesday (est            120,000    2,000     472,000      8,000
Week ago (est)        120,000    2,000     422,000      9,000
Year ago (act)          119,000    2,000     462,000      8,000
Week to date (est) 239,000    4,000     944,000    17,000
Last Week (est)       234,000    4,000     838,000    18,000
Last Year (act)         236,000    4,000     921,000    16,000


Boxed Beef: 

Boxed beef cutout values weak on light to moderate demand and moderate offerings. Select and Choice rib, chuck, round, and loin cuts steady to weak. Beef trimmings mostly moderately to sharply lower on light demand and moderate offerings.
Cutout Values...              Choice       Select
Current Cutout Values:    205.73     194.87
Change from prior day:       -0.43       -0.52
Choice/Select spread:      +10.86


Futures Summary: 


October Live Cattle Futures: 112.35... +0.18
December Live Cattle Futures: 117.20… +0.20
February Live Cattle Futures: 121.55… +0.25
September Feeder Cattle Futures: 156.62… +0.17
October Feeder Cattle Futures: 156.47… +0.17
November Feeder Cattle Futures: 156.42… +0.50
CME Feeder Cattle Index: 157.83… +0.49
October Hog Futures: 62.42… +1.42
Nearby Crude Oil Futures Contract: 72.28… +0.20


National Grain Market Summary:

Compared to yesterday, cash bids for corn and sorghum are higher, while soybeans and wheat were mixed.  Most of the Midwest is at a standstill in regards to harvest due to precipitation.  The 10 day forecast is calling for more precipitation that could slow harvest further.
December Corn Futures: 3.6375… +0.0325
November Soybean Futures: 8.4575… +0.0475
December Wheat Futures: 5.2075… -0.0625
Kansas City Corn: 3.26… +0.03
Kansas City Soybeans: 7.98… +0.05
Kansas City Wheat: 5.22… -0.07


Financial Markets: 

Dow Jones Industrial Average: 26,492.21… -68.94
S & P 500: 2,915.60… -3.77
NASDAQ: 8,007.47… +14.22
U.S. Dollar Index: 94.13… -0.12

Cotton (www.ams.usda.gov): 

October Cotton Futures: 80.41… +1.68

Milk (www.cmegroup.com): 

September Class III Milk Futures: 16.14… +0.01