Sep 23 2019

Texas Daily Ag Market Summary Posted 4 years 217 days ago by Administrator Account

Daily Market Summary for September 23rd

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

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Slaughter Cattle:

As of 3:00 PM Monday, negotiated cash trade was inactive on light demand in all feeding regions. The latest established market in any feeding region was last week with live purchases in the Southern Plains at 102.00. In the Northern Plains last week, live purchases traded mostly at 102.00 with dressed purchases in Nebraska from 160.00-165.00, bulk at 162.00. In the Western Cornbelt last week, live purchases traded from 100.00-104.00, bulk at 102.00 with dressed purchases from 160.00-165.00.

    

Negotiated Sales:

Confirmed: 74 --- Week Ago: 54 --- Year Ago: 338

  

Formula Net - Dressed Steers & Heifers

Head count priced today: 40,500

Weighted avg weight:           874

Weighted avg net price:   159.67

      

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales last week saw moderate volume trade with prices trading either side of steady, with average fed steer prices about $1 higher, while heifers were slightly lower. The majority of reported sales were dressed from $230-233/cwt delivered. Alberta fed prices continue to trade at a premium to the Nebraska market. 

 

Livestock Slaughter under Federal Inspection:                                  

                                   Cattle       Calves     Hogs          Sheep

Monday (est)            116,000    2,000     454,000     9,000

Week ago (est)         117,000    2,000     487,000     9,000

Year ago (act)           118,000    2,000     469,000     8,000

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

                           Friday           91,000                     25,000

                      Saturday           61,000                      14,000

                                                 

Boxed Beef: 

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     216.45     190.84

Change from prior day:        -0.52        -0.88

Choice/Select spread:          25.61

Total Load Count (Cuts, Trimmings, Grinds): 104

  

Cutter Cow Cutout: 175.08… -0.47

  

CME Feeder Cattle Index: 139.68… +1.15

  

Futures…

Live Cattle:

October: 101.85… +2.50

December: 107.77… +2.62

February: 114.10… +2.03

Feeder Cattle:

September: 141.60… +1.28

October: 141.25… +2.05

November: 137.72… +2.70

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September Hogs: 60.95… +0.60

October Crude Oil: 58.64… +0.55

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December Corn: 3.7325… +0.0250

December Soybeans: 8.9250… +0.0975

December Wheat: 4.8300… -0.0125

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Grain Cash Bids:

Kansas City Corn: 3.63… Unchanged

Kansas City Soybeans: 8.34… +0.10

Kansas City Wheat: 4.71… -0.01

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Financial Markets:

Dow Jones Industrial Average: 26,950.26… +15.19

S & P 500: 2,991.78… -0.29

NASDAQ: 8,112.46… -5.21

U.S. Dollar Index: 98.59… +0.08