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Oct
30
2018

Texas Daily Ag Market News Summary

Posted 5 years 151 days ago by Administrator Account

Daily Market Summary for October 30th  

The Daily Market News Report bought to you by The Cattle Range. Please visit https://cattlerange.com/cattle-market-reports-analysis/daily-summary/ for more information!   


Slaughter Cattle:  

Tuesday in the Southern Plains and Colorado feeding regions negotiated cash trading has been at a standstill. In Nebraska and the Western Cornbelt trading has been inactive on very light demand. Not enough trades for a market trend. Last week in the Texas Panhandle live trades moved at 115.00. In Kansas live trades moved mostly at 114.00 with a few up to 115.00. For the prior week in the Northern Plains live trades moved from 114.00-115.00 and dressed trades, in Nebraska, moved at 180.00. For the previous week in the Western Cornbelt live trades moved from 112.00-113.00 and dressed trades moved at 180.00.

 

Negotiated Sales:

Confirmed: 1,477    Week Ago: 595    Year Ago: 166

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 21,400
Weighted avg weight:        874.00
Weighted avg net price:     177.05

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Monday saw no new trade to report. This week's showlist has been compiled with volumes steady with the previous week. From a basis perspective it was a disappointing week for the western Canadian fed market. Alberta fed prices went from a premium against the Nebraska market to a discount. Looking at the most recent weekly export data. Canadian fed cattle and cow exports to the US totaled just over 5,800, volumes are down 33% compared to the same week last year. 

 

Livestock Slaughter under Federal Inspection:                                  

                                  Cattle        Calves    Hogs          Sheep
Tuesday (est           117,000    2,000     465,000      8,000
Week ago (est)       119,000    2,000     477,000      8,000
Year ago (act)         118,000    2,000     463,000      9,000
Week to date (est) 234,000    4,000     931,000    14,000
Last Week (est)       237,000    4,000     952,000    16,000
Last Year (act)         235,000    4,000     907,000    17,000

 

Boxed Beef: 

Boxed beef cutout values higher on moderate to good demand and light offerings. Select and Choice rib, loin, and round cuts steady to firm while chuck cuts firm to higher. Beef trimmings unevenly steady on moderate demand and offerings.
 
Cutout Values...              Choice       Select
Current Cutout Values:    215.28     202.88
Change from prior day:      +1.52       +1.77
Choice/Select spread:      +12.40

 

Futures: 

October Live Cattle Futures: 113.90… -0.40
December Live Cattle Futures: 116.80… -0.45
February Live Cattle Futures: 122.30… -0.50
November Feeder Cattle Futures: 152.17… -1.73
January Feeder Cattle Futures: 148.10… -1.72
March Feeder Cattle Futures: 146.57… -1.40
 
CME Feeder Cattle Index: 153.66… +0.10
December Hog Futures: 59.00… +0.15
Nearby Crude Oil Futures Contract: 66.18… -0.86

 

National Grain Market Summary:

Compared to yesterday, cash bids for wheat and sorghum were mostly lower, while soybeans and corn were mixed.  USDA said 63% of the corn had been harvested, even with its five-year average pace.  However, progress is lagging in Iowa, Nebraska and the Dakotas.  The good news for growers in those states is that they are expecting mostly dry weather the next seven days.  72% of soybeans were harvested, down from the five-year average of 81% for this time of year. 78% of the winter wheat crop has been planted, down from a five-year average of 85%.  In Kansas, the pace remains slower than usual.  89% of Kansas wheat is usually in the ground by now, but only 76% has been planted.  Wheat was steady to 8 cents lower.  Corn was from 2 cents lower to 1 cent higher.  Soybeans were from 18 1/2 cents lower to 1 1/2 cents higher.  Sorghum was 3 3/4 cents lower.
 
December Corn Futures: 3.6475… -0.0200
November Soybean Futures: 8.3350… -0.0550
December Wheat Futures: 4.9975… -0.0750
Kansas City Corn: 3.49… -0.02
Kansas City Soybeans: 7.86… -0.06
Kansas City Wheat: 4.95… -0.06

 

Financial Markets: 

Dow Jones Industrial Average: 24,874.68… +431.76
S & P 500: 2,682.64… +41.39
NASDAQ: 7,160.95… +110.36
U.S. Dollar Index: 96.99… +0.30


Cotton
(www.ams.usda.gov): 

December Cotton Futures: 76.90… -0.27


Milk
(www.cmegroup.com): 

October Class III Milk Futures: 15.54… +0.01





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