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Sep
11
2019

Texas Daily Ag Market News Summary

Posted 7 days ago ago by Administrator Account

Daily Market Summary for September 11th

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


  Slaughter Cattle:
As of 3:00 PM Wednesday, negotiated cash trading has been inactive on very light demand in Kansas, Nebraska and the Western Cornbelt. In the Texas Panhandle trading has been at a standstill. Not enough purchases in any feeding region for an adequate market test. Last week live purchases traded at 100.00 in the Southern Plains. For the prior week in Nebraska live cash purchases ranged from 99.00-103.00 with dressed purchases mostly from 165.00-167.00. For the previous week in the Western Cornbelt live purchases traded from 100.00-107.00 with dressed purchases from 163.00-168.00.

    

Negotiated Sales:

Confirmed: 2,624 --- Week Ago: 7,560 --- Year Ago: 422

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 20,700
Weighted avg weight:             873
Weighted avg net price:    165.37

   

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 have improved since Monday. Softer cash prices in the US does not bode well for prices here in Western Canada. Some cattle have been carried over for the past couple weeks and there could be some additional pressure to market cattle.

 

Livestock Slaughter under Federal Inspection:                                  

                                 Cattle       Calves     Hogs          Sheep
Wednesday (est      117,000    2,000      487,000      7,000
Week ago (est)        117,000    2,000      485,000      7,000
Year ago (act)          120,000    3,000      410,000      7,000
Week to date (est)   348,000    6,000   1,457,000    24,000
Last Week (est)       233,000    4,000      960,000    15,000
Last Year (act)         359,000    8,000   1,340,000    24,000
Previous Day Estimated   Steers & Heifers --- Cows & Bulls                
                           Tuesday          91,000                     25,000                

                                                 

Boxed Beef: 

Boxed beef cutout values sharply lower on light demand and moderate to heavy offerings.  Select and Choice rib cuts firm while round cuts weak to lower. Select chuck and loin cuts weak to lower while Choice cuts sharply lower. Beef trimmings higher on moderate to good demand and moderate offerings.
 
Cutout Values...                 Choice     Select
Current Cutout Values:     219.89     198.40
Change from prior day:        -5.49       -2.58
Choice/Select spread:          21.49
Total Load Count (Cuts, Trimmings, Grinds): 166

  

Cutter Cow Cutout: 175.61… -0.07

  

CME Feeder Cattle Index: 136.17… -0.27

  

Futures…

Live Cattle:
October: 98.50… +2.35
December: 103.62… +2.40
February: 110.17… +1.75
Feeder Cattle:
September: 136.07… +2.17
October: 134.02… +2.97
November: 133.55… +2.85
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September Hogs: 60.17… -2.55
October Crude Oil: 55.75… -1.65
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December Corn: 3.6000… -0.0150
December Soybeans: 8.6650… -0.0550
December Wheat: 4.7750… -0.0475
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Grain Cash Bids:
Kansas City Corn: 3.58… -0.01
Kansas City Soybeans: 8.09… -0.06
Kansas City Wheat: 4.65… -0.05
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Financial Markets:

Dow Jones Industrial Average: 27,137.04… +227.61
S & P 500: 3,000.93… +21.54
NASDAQ: 8,169.68… +85.52
U.S. Dollar Index: 98.63… +0.30