Oct 22 2019

Texas Daily Market News Summary Posted 4 years 180 days ago by Administrator Account

Daily Market Summary for October 22nd

  

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Slaughter Cattle:

As of 3:00 PM Tuesday, 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: 418 --- Week Ago: 150 --- Year Ago: 595

  

Formula Net - Dressed Steers & Heifers

Head count priced today: 15,200

Weighted avg weight:             848

Weighted avg net price:    175.17

           

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales Monday saw no new trade to report. This week’s showlist has been be compiled with volumes larger than the previous week. Last week on a dressed basis Alberta fed prices were at a 6.00 premium against the Ontario market. Alberta fed cash to futures basis levels did weaken last week and are now at the weakest point since May. Canadian beef cutout values are trading 1 to 5% higher than last year while fed cattle prices are 5-7% below last year. In other words, packers are buying cattle cheaper than last year and are selling the beef at higher prices year over year. Suggesting packers are profitable.

  

Livestock Slaughter under Federal Inspection:                                  

                                  Cattle      Calves    Hogs         Sheep

Tuesday (est)          119,000    2,000     492,000      9,000

Week ago (est)       118,000    2,000     490,000      8,000

Year ago (act)         120,000    2,000     474,000      8,000

Week to date (est)  237,000    4,000     980,000    18,000

Last Week (est)       235,000    4,000     981,000    15,000

Last Year (act)         238,000    4,000     949,000    16,000

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

                           Monday          94,000                     24,000

                                                              

Boxed Beef: 

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

 

Cutout Values...        Choice   Select

Current Cutout Values:     220.93     198.08

Change from prior day:      +0.80       +3.64

Choice/Select spread:          22.85

Total Load Count (Cuts, Trimmings, Grinds): 105

  

Cutter Cow Cutout: 170.26… -0.81

  

CME Feeder Cattle Index: 144.93… -1.03

  

Futures…

Live Cattle:

October: 109.87… -1.08

December: 113.70… -0.17

February: 119.10… -0.12

Feeder Cattle:

October: 143.70… +0.28

November: 143.50… +0.65

January: 139.80… +0.70

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December Hogs: 65.50… -2.32

November Crude Oil: 54.16… +0.85

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December Corn: 3.8800… +0.0075

December Soybeans: 9.3400… +0.0075

December Wheat: 5.1800… -0.0550

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Grain Cash Bids:

Kansas City Corn: 3.83… +0.01

Kansas City Soybeans: 8.83… Unchanged

Kansas City Wheat: 5.06… -0.05

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Financial Markets:

Dow Jones Industrial Average: 26,788.10… -39.54

S & P 500: 2,995.99… -10.73

NASDAQ: 8,104.30… -58.69

U.S. Dollar Index: 97.48… +0.15