Sep 17 2019

Texas Daily Ag Market News Summary Posted 4 years 221 days ago by Administrator Account

Daily Market Summary for September 17th

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Slaughter Cattle:

As of 3:00 PM Tuesday, negotiated cash trading has been at a standstill in the Southern Plains. In the Northern Plains and 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 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: 1,154 --- Week Ago: 1,232 --- Year Ago: 347

Formula Net - Dressed Steers & Heifers

Head count priced today: 20,300

Weighted avg weight:           872

Weighted avg net price:   164.09

    

Alberta Beef Producers Daily Report: Alberta CA

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 3.00 premium against the Nebraska market. Cattle feeding margins have been negative for the better part of the last sixteen months Cattle being sold today could be losing close to 300.00/head. On a more positive note Canadian beef exports from January to July are up 14.5% in volume and 24.2% in values compared to last year.

 

Livestock Slaughter under Federal Inspection:                                 

                                  Cattle       Calves    Hogs         Sheep

Tuesday (est)            118,000    2,000     488,000      8,000

Week ago (est)        116,000    2,000     485,000      8,000

Year ago (act)          119,000    3,000     420,000      8,000

Week to date (est)   235,000    4,000     975,000    17,000

Last Week (est)       231,000    4,000     970,000    17,000

Last Year (act)         232,000    6,000     834,000    16,000

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

                           Monday           93,000                    24,000

                                               

Boxed Beef:

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     219.77     193.71

Change from prior day:        -0.85        -2.66

Choice/Select spread:          25.86

Total Load Count (Cuts, Trimmings, Grinds): 166

 

Cutter Cow Cutout: 176.76… +0.53

 

CME Feeder Cattle Index: 137.12… +1.03

 

Futures…

Live Cattle:

October: 99.35… +1.35

December: 105.30… +1.28

February: 111.77… +1.32

Feeder Cattle:

September: 139.17… +2.62

October: 137.30… +3.10

November: 135.05… +1.88

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September Hogs: 62.10… -1.52

October Crude Oil: 59.34… -3.56

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December Corn: 3.6800… -0.0600

December Soybeans: 8.9375… -0.0625

December Wheat: 4.8425… -0.0450

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Grain Cash Bids:

Kansas City Corn: 3.63… -0.06

Kansas City Soybeans: 8.36… -0.07

Kansas City Wheat: 4.72… -.04

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Financial Markets:

Dow Jones Industrial Average: 27,110.80… +33.98

S & P 500: 3,005.69… +7.73

NASDAQ: 8,186.02… +32.98

U.S. Dollar Index: 98.22… -0.39