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Aug
28
2019

Texas Daily Ag Market News Summary

Posted 21 days ago ago by Administrator Account

Daily Market Summary for August 28th

The Daily Market News Report bought to you by The Cattle Range. Please visit their website for more information!


 

Slaughter Cattle:

As of 3:00 PM Wednesday, trade was limited on light to moderate demand in the Western Cornbelt. A few dressed purchases in the Western Cornbelt traded at 173.00, however not enough for and adequate market test. Trade was mostly inactive on light demand in Kansas and Nebraska. Trade was inactive on light demand in the Texas Panhandle. The latest established market in any feeding regions was on Tuesday in Western Cornbelt, with a few live purchases at 109.00. Dressed purchases last week in the Western Cornbelt traded from 174.00-178.00 on a light test. Last week in the Southern Plains live purchases traded at 106.00. Last week in Nebraska live purchases traded from 107.00-108.00 on a light test and dressed purchases traded from 170.00-178.00, bulk from 175.00.-178.00 on a light test.

   

Negotiated Sales:

Confirmed: 5,203 --- Week Ago: 1,893 --- Year Ago: 2,840

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 27,800

Weighted avg weight:           848

Weighted avg net price:  174.73

  

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 are unchanged from Monday. Fed cattle supplies remain ample and by the sounds of things there could be a few more September fed contract numbers compared to August. Seasonally fed prices trend lower over the next 30 days. Reported cash sales have been somewhat light over the past three weeks and there is a feeling producers are fighting the market. 

    

Livestock Slaughter under Federal Inspection:                                 

                                  Cattle       Calves     Hogs          Sheep

Wednesday (est       116,000    2,000      485,000      7,000

Week ago (est)        116,000    2,000      482,000      7,000

Year ago (act)          118,000    2,000      453,000      5,000

Week to date (est)   349,000    6,000   1,421,000    24,000

Last Week (est)       347,000    6,000   1,444,000    23,000

Last Year (act)         358,000    6,000   1,394,000    21,000

Previous Day Estimated   Steers & Heifers --- Cows & Bulls               

                        Tuesday          92,000                     25,000

                                 

Boxed Beef:

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     232.96     211.81

Change from prior day:        -3.80       +1.10

Choice/Select spread:          21.15

Total Load Count (Cuts, Trimmings, Grinds): 148

 

Cutter Cow Cutout: 175.28… -0.38

 

CME Feeder Cattle Index: 138.62… +0.24

 

Futures…

Live Cattle:

August: 105.07… +0.32

October: 99.20… -0.57

December: 104.07… -0.73

Feeder Cattle:

August: 138.75… +0.20

September: 132.85… -0.92

October: 131.62… -0.88

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September Hogs: 63.50… +0.28

October Crude Oil: 55.78… +0.85

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September Corn: 3.6275… +0.0575

September Soybeans: 8.5275… +0.0650

September Wheat: 4.7225… -0.0150

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Grain Cash Bids:

Kansas City Corn: 3.78… +0.08

Kansas City Soybeans: 8.12… +0.09

Kansas City Wheat: 4.67… -0.02

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Financial Markets:

Dow Jones Industrial Average: 26,036.10… +258.20

S & P 500: 2,887.94… +18.78

NASDAQ: 7,856.88… +29.93

U.S. Dollar Index: 98.25… +0.22