Oct 31 2019

Texas Daily Market News Summary Posted 4 years 170 days ago by Administrator Account

Daily Market Summary for October 31st

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Slaughter Cattle:

As of 3:00 PM Thursday negotiated cash trading has been limited on light demand in Kansas and Western Cornbelt. In Kansas a few live cash trades moved steady at 112.00 when compared to the last fully reported market on Wednesday. Last week in the Western Cornbelt live cash trades moved mostly at 110.00 and dressed cash trades moved mostly at 175.00. Thus far for Thursday in the Texas Panhandle and Nebraska negotiated cash trading has been at a standstill. In the Texas Panhandle on Wednesday live cash trades moved at 112.00. For the prior week in Nebraska live cash trades moved mostly at 110.00 and dressed cash trades moved mostly at 175.00.

    

Negotiated Sales:

Confirmed: 4,931 --- Week Ago: 28,850 --- Year Ago: 6,630

  

Formula Net - Dressed Steers & Heifers

Head count priced today: 19,600

Weighted avg weight:             853

Weighted avg net price:    177.61

           

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales Wednesday saw no new trade to report. Dressed bids have been reported at 236.00 delivered. Bids are steady to 4.00 lower than the previous week. With the Northern US cash market poised to trade higher this week and with local packers bidding steady to lower money. US buying interest could become more of a factor on the western Canadian cash market. If US buying interest does materialize local packers may have to increase their bids.

  

Livestock Slaughter under Federal Inspection:                                  

                                  Cattle       Calves    Hogs         Sheep

Thursday (est)        118,000    2,000      490,000      8,000

Week ago (est)       118,000    2,000      491,000      8,000

Year ago (act)         122,000    2,000      473,000      7,000

Week to date (est)  466,000    8,000   1,945,000    33,000

Last Week (est)       473,000    8,000   1,962,000    34,000

Last Year (act)         480,000    9,000   1,883,000    30,000

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

                  Wednesday          90,000                     27,000

                                                                                    

Boxed Beef: 

Boxed beef cutout values sharply higher on Choice and steady on Select on moderate to good demand and moderate offerings. Select and Choice chuck cuts steady while round and loin cuts steady to firm. Choice rib cuts higher while Select steady. Beef trimmings not fully established.

 

Cutout Values...                 Choice     Select

Current Cutout Values:     232.18     206.49

Change from prior day:       +2.13        -0.18

Choice/Select spread:          25.69

Total Load Count (Cuts, Trimmings, Grinds): 117

  

Cutter Cow Cutout: 173.33… +0.07

  

CME Feeder Cattle Index: 145.23… +0.15

  

Futures…

Live Cattle:

October: 111.67… -1.70

December: 117.22… -1.08

February: 122.35… -0.75

Feeder Cattle:

October: 145.95… -0.07

November: 147.60… -0.27

January: 144.67… -0.13

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December Hogs: 66.00… +0.23

December Crude Oil: 54.18… -0.88

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December Corn: 3.9000… -0.0075

December Soybeans: 9.1675… +0.0075

December Wheat: 5.0875… -0.0050

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Grain Cash Bids:

Kansas City Corn: 3.91… Unchanged

Kansas City Soybeans: 8.73… +0.01

Kansas City Wheat: 4.96… -0.01

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Financial Markets:

Dow Jones Industrial Average: 27,046.18… -140.51

S & P 500: 3,037.62… -9.15

NASDAQ: 8,292.36… -11.62

U.S. Dollar Index: 97.32… -0.33