Oct 24 2019

Texas Daily Ag Market Summary Posted 4 years 178 days ago by

Daily Market Summary for October 24th

  

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Slaughter Cattle:

As of 3:00 PM Thursday, trade was moderate on good demand in the Southern Plains. Compared to last week in the Texas Panhandle, live purchases traded 2.00 higher at 110.00. In Kansas compared to Wednesday, live purchases traded 1.00 higher at 110.00. Trade was light on moderate demand in Nebraska and the Western Cornbelt. A few early dressed purchases were reported in both regions from 174.00-175.00, however not enough for an adequate market test. The latest established market in Nebraska was last week, with live purchases 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: 28,850 --- Week Ago: 1,417 --- Year Ago: 1,136

  

Formula Net - Dressed Steers & Heifers

Head count priced today: 34,100

Weighted avg weight:             899

Weighted avg net price:    175.68

           

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales Wednesday saw light trade develop with dressed sales and bids ranging from 235.00-240.00 delivered. Bids and sales are 2.00-7.00 lower than last week. Live sales have been reported in the low 140's and are 3.00 lower than last weeks weighted average price. Marketing pressure was evident this week as there are some big cattle standing in feedlot pens. With these big cattle producers were also looking for quick slaughter dates. On some sales packers are buying cattle flat with no weight breaks while other sales packers are discounting carcass weights weighing over 1,050 lbs. 

  

Livestock Slaughter under Federal Inspection:                                  

                                   Cattle       Calves    Hogs          Sheep

Thursday (est)         118,000    2,000      491,000      8,000

Week ago (est)        111,000    2,000      491,000      8,000

Year ago (act)          118,000    2,000      476,000      7,000

Week to date (est)  473,000    8,000   1,962,000    34,000

Last Week (est)       462,000    8,000   1,962,000    30,000

Last Year (act)         475,000    9,000   1,902,000    29,000

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

                   Wednesday            91,000                     27,000

                                                                  

Boxed Beef: 

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

 

Cutout Values...         Choice   Select

Current Cutout Values:     225.62     199.09

Change from prior day:      +2.34       +0.15

Choice/Select spread:        26.53

Total Load Count (Cuts, Trimmings, Grinds): 118

  

Cutter Cow Cutout: 169.29… -0.61

  

CME Feeder Cattle Index: 144.93

  

Futures…

Live Cattle:

October: 110.42… +0.22

December: 114.72… -0.53

February: 120.05… -0.37

Feeder Cattle:

October: 145.22… +0.20

November: 144.17… -0.58

January: 140.57… -0.63

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December Hogs: 64.55… -1.27

December Crude Oil: 56.23… +0.26

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December Corn: 3.8675... -0.0100

December Soybeans: 9.3325... -0.0050

December Wheat: 5.1600... -0.0475

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Grain Cash Bids:

Kansas City Corn: 3.82… -0.01

Kansas City Soybeans: 8.86… Unchanged

Kansas City Wheat: 5.04… -0.04

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Financial Markets:

Dow Jones Industrial Average: 26,805.19… -28.76

S & P 500: 3,010.23… +5.71

NASDAQ: 8,185.80… +66.01

U.S. Dollar Index: 97.68… +0.19