Sep 16 2019

Texas Daily Ag Market News Summary Posted 4 years 220 days ago by Administrator Account

Daily Market Summary for September 16th

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

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Slaughter Cattle:

As of 3:00 PM Monday, negotiated cash has been at a standstill in the Southern and Northern Plains. In the Western Cornbelt negotiated cash trading has been inactive on very light demand. Not enough trades for a market trend. Last week in the Texas Panhandle live trades moved mostly at 99.00. In Kansas live trades moved from 99.00-100.00 for the prior week. In Northern Plains and Colorado live trades moved from 100.00-101.00 and dressed trades, in Nebraska, ranged from 155.00-160.00 for the previous week. Last week in the Western Cornbelt live trades moved from 100.00-102.00 and dressed trades moved mostly at 160.00.

   

Negotiated Sales:

Confirmed: 54 --- Week Ago: 1,106 --- Year Ago: 3,528

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 47,300

Weighted avg weight:             866

Weighted avg net price:    163.06

     

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales last week saw light trade develop with weighted average steer and heifer prices closing the week at 136.50 and 135.50 respectively. Prices are 3.00 lower than the previous week. From their first half highs fed prices have dropped 16% which is right in line with the five-year average. Looking at the non-fed market butcher cows traded 2.00-3.00 lower through commercial auction facilities last week. Butcher cow prices are trading 1.00 higher than last year. 

 

Livestock Slaughter under Federal Inspection:                                 

                                 Cattle       Calves     Hogs          Sheep

Monday (est)           117,000    2,000     487,000     9,000

Week ago (est)        115,000    2,000     485,000     9,000

Year ago (act)          113,000    3,000     414,000     8,000

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

                              Friday            86,000                    23,000

                         Saturday            46,000                    12,000

                                                

Boxed Beef:

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     220.62     196.57

Change from prior day:       -0.26        -2.03

Choice/Select spread:        24.05

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

 

Cutter Cow Cutout: 176.23… +0.28

 

CME Feeder Cattle Index: 136.09… Unchanged

 

Futures…

Live Cattle:

October: 98.00… -0.07

December: 104.02… -0.35

February: 110.45… -0.65

Feeder Cattle:

September: 136.55… +0.05

October: 134.20… -0.37

November: 133.17… -0.85

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September Hogs: 63.62… -2.85

October Crude Oil: 62.90… +8.05

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December Corn: 3.7400… +0.0525

December Soybeans: 9.0000… +0.0125

December Wheat: 4.8875… +0.0525

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Grain Cash Bids:

Kansas City Corn: 3.69… +0.03

Kansas City Soybeans: 8.43… +0.02

Kansas City Wheat: 4.76… +0.05

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Financial Markets:

Dow Jones Industrial Average: 27,076.82… -142.70

S & P 500: 2,997.96… -9.43

NASDAQ: 8,153.54… -23.17

U.S. Dollar Index: 98.61… +0.35