Aug 29 2019

Texas Daily Ag Market News Summary Posted 4 years 235 days ago by Administrator Account

Daily Market Summary for August 29th

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 Thursday, negotiated cash trade was light to moderate on moderate demand in Nebraska and the Western Cornbelt. Compared to Wednesday in Nebraska, dressed purchases traded 3.00-5.00 lower from 165.00-172.00. On Wednesday in Nebraska early live purchases traded at 106.00. Compared to Wednesday in the Western Cornbelt, dressed purchases traded 2.00-4.00 lower mostly at 171.00. On Tuesday early live purchases traded at 109.00. Trade was mostly inactive on light demand in the Southern Plains. Last week in the Southern Plains live purchases traded at 106.00.

   

Negotiated Sales:

Confirmed: 15,421 --- Week Ago: 10,338 --- Year Ago: 5,008

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 27,200

Weighted avg weight:             860

Weighted avg net price:    172.83

  

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales Wednesday saw no new trade to report. Dressed bids have been reported from 234.00-238.00 delivered. Bids are 1.00-3.00 lower than the previous week. Selling interest remains light but there a few cattle on this week's list that will have to trade. Buying interest has been noted from all three western Canadian packers.   

   

Livestock Slaughter under Federal Inspection:                                 

                                 Cattle       Calves     Hogs          Sheep

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

Week ago (est)       115,000    2,000      482,000       8,000

Year ago (act)          120,000    2,000      468,000      7,000

Week to date (est)  465,000    8,000   1,906,000    31,000

Last Week (est)       462,000    8,000   1,926,000    31,000

Last Year (act)         478,000    8,000   1,862,000    28,000

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

                   Wednesday           90,000                     26,000

                                 

Boxed Beef:

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     232.19     212.78

Change from prior day:        -0.77       +0.97

Choice/Select spread:          19.41

Total Load Count (Cuts, Trimmings, Grinds): 101

 

Cutter Cow Cutout: 175.77… +0.49

 

CME Feeder Cattle Index: 138.69... +0.07

 

Futures…

Live Cattle:

August: 105.65… +0.58

October: 99.80… +0.60

December: 104.25… +0.18

Feeder Cattle:

September: 133.40… +0.55

October: 131.97… +0.35

November: 131.92… +0.12

---

September Hogs: 64.90… +1.40

October Crude Oil: 55.78

---

September Corn: 3.5975… -0.0300

September Soybeans: 8.5625… +0.0350

September Wheat: 4.6975… -0.0250

---

Grain Cash Bids:

Kansas City Corn: 3.75… -0.03

Kansas City Soybeans: 8.15… +0.03

Kansas City Wheat: 4.65… -0.02

---

Financial Markets:

Dow Jones Industrial Average: 26,362.25… +326.15

S & P 500: 2,924.58… +36.64

NASDAQ: 7,973.39… +116.51

U.S. Dollar Index: 98.46… +0.25