Oct 21 2019

Texas Daily Ag Market News Summary Posted 4 years 189 days ago by Administrator Account

Daily Market Summary for October 21st

 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 mostly 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 108.00. Last week in Nebraska, live purchases traded from 109.00-111.00 with dressed purchases mostly from 173.00-175.00. In the Western Cornbelt for the previous week, live purchases traded from 110.00-111.00 with a light test of dressed purchases from 173.00-175.00.

    

Negotiated Sales:

Confirmed: 188 --- Week Ago: 598 --- Year Ago: 76

  

Formula Net - Dressed Steers & Heifers

Head count priced today: 44,900

Weighted avg weight:             866

Weighted avg net price:    175.26

           

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 in the low to mid 140's. Prices are 1.00-2.00 higher than the previous week but are 6.00-7.00 lower than compared to the same time last year. Looking at the non-fed market butcher cows traded fully steady through commercial auction facilities last week. Part of the reason why butcher cow prices have held up so well this fall is the strength of the trim market. Canadian 85% trim prices continue to trade close to annual highs.  

  

Livestock Slaughter under Federal Inspection:                                  

                                  Cattle        Calves    Hogs           Sheep

Monday (est)           118,000    2,000     488,000     9,000

Week ago (est)        117,000    2,000     491,000     7,000

Year ago (act)          118,000    2,000     475,000     8,000

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

                                Friday         81,000                     26,000

                           Saturday         57,000                     13,000

                                                              

Boxed Beef: 

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     220.13     194.44

Change from prior day:       +2.09       +1.40

Choice/Select spread:          25.69

Total Load Count (Cuts, Trimmings, Grinds): 86

  

Cutter Cow Cutout: 171.07… +1.22

  

CME Feeder Cattle Index: 145.60

  

Futures…

Live Cattle:

October: 110.95… +0.48

December: 113.87… +0.25

February: 119.22… +0.15

Feeder Cattle:

October: 143.42… -0.08

November: 142.85… Unchanged

January: 139.10… -0.35

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December Hogs: 67.82… -0.13

November Crude Oil: 53.31… -0.47

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December Corn: 3.8725… -0.0375

December Soybeans: 9.3325… -0.0075

December Wheat: 5.2350… -0.0875

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Grain Cash Bids:

Kansas City Corn: 3.82… -0.03

Kansas City Soybeans: 8.83… +0.01

Kansas City Wheat: 5.11… -0.09

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Financial Markets:

Dow Jones Industrial Average: 26,827.91… +57.71

S & P 500: 3,006.73… +20.53

NASDAQ: 8,162.99… +73.45

U.S. Dollar Index: 97.33… +0.05