Oct 11 2019

Texas Daily Ag Market News Summary Posted 4 years 191 days ago by Administrator Account

Daily Market Summary for October 11th

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Slaughter Cattle:

As of 3:00 PM Friday, negotiated trade was light to moderate on moderate demand in Nebraska and the Western Cornbelt. Compared to last week in Nebraska early dressed purchases traded 2.00 higher at 172.00. A few early live purchases were reported from 109.00-110.00, however not enough for an adequate market test. Last week in Nebraska live purchases traded from 107.00-109.00. In the Western Cornbelt compared to Thursday, live purchases traded mostly steady at 109.00. A few early dressed purchases traded at 172.00 however not enough for an adequate market trend. Last week in the Western Cornbelt dressed purchases traded at 170.00. Trade was mostly inactive on moderate demand in the Southern Plains and Colorado. Not enough purchases in those feeding regions for an adequate market test. The latest established market in the Texas Panhandle was last week, with live purchases 106.00-107.00. In Kansas last week, live purchases traded at 107.00. In Colorado for the previous week live purchases traded at 109.00.

   

Negotiated Sales:

Confirmed: 14,754 --- Week Ago: 44,173 --- Year Ago: 7,168

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 17,700

Weighted avg weight:             855

Weighted avg net price:    170.58

       

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales Thursday saw light trade develop with dressed sales marked at 240.00 delivered. Sales are 2.00 higher than the previous week. Buying interest was noted from all three western Canadian packers. This is the fourth consecutive week of higher fed cattle prices, tentatively prices are at the highest point since mid August. Some cattle that traded this week would not be picked up until early November. Cash to futures basis levels did weaken. Sale volumes are shaping up rather light this week and some cattle will be carried into next week.

 

 Livestock Slaughter under Federal Inspection:                                 

                                   Cattle        Calves    Hogs           Sheep

Friday (est)              117,000     2,000      488,000       7,000

Week ago (est)        108,000     2,000      487,000       5,000

Year ago (act)          114,000     3,000      459,000       7,000

Week to date (est)   584,000   10,000   2,440,000    38,000

Last Week (est)       575,000   10,000   2,444,000    36,000

Last Year (act)         587,000   13,000   2,327,000    38,000

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

                       Thursday           91,000                     26,000

                                                      

Boxed Beef:

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     215.66     188.68

Change from prior day:      +0.03       +2.02

Choice/Select spread:        26.98

Total Load Count (Cuts, Trimmings, Grinds): 110

 

Cutter Cow Cutout: 171.74… +1.08

 

CME Feeder Cattle Index: Today’s Index not yet published

 

 

Futures…

Live Cattle:

October: 109.45… +0.73

December: 112.15… +0.73

February: 118.05… +0.78

Feeder Cattle:

October: 144.10… -0.20

November: 144.25… +0.13

January: 140.47… +0.05

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December Hogs: 69.60… +1.13

November Crude Oil: 54.70… +1.15

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December Corn: 3.9775… +0.1750

December Soybeans: 9.3600… +0.1250

December Wheat: 5.0800… +0.1500

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Grain Cash Bids:

Kansas City Corn: 3.86… +0.17

Kansas City Soybeans: 8.85… +0.19

Kansas City Wheat: 4.96… 0.15

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Financial Markets:

Dow Jones Industrial Average: 26,816.59… +319.92

S & P 500: 2,970.27… +32.14

NASDAQ: 8,057.04… +106.26

U.S. Dollar Index: 98.33… -0.37