Sep 12 2019

Texas Daily Ag Market News Summary Posted 4 years 220 days ago by Administrator Account

Daily Market Summary for September 12th

The Daily Market News Report bought to you by The Cattle Range. Please visit their website for more information!

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Slaughter Cattle:

As of 3:00 PM Thursday, negotiated cash trading has been slow on light demand in the Texas Panhandle. Compared to last week live cash trades moved 1.00 lower at 99.00 on Thursday. Thus far for the week live cash trades have moved 1.00 to 3.00 lower from 97.00 to 99.00. Thus far for Thursday in Nebraska trading has been limited on light demand. A few dressed trades moved at 159.00. However, not enough for a full market trend. For the prior week live cash purchases ranged from 99.00-103.00 with dressed purchases mostly from 165.00-167.00. So far for Thursday in Kansas and Western Cornbelt trading has been inactive on very light demand. Not enough trades for a market trend. Last week in Kansas live cash trades moved at 100.00. For the previous week in the Western Cornbelt live purchases traded from 100.00-107.00 with dressed purchases from 163.00-168.00.

  

Negotiated Sales:

Confirmed: 7,792 --- Week Ago: 29,405 --- Year Ago: 15,031

Formula Net - Dressed Steers & Heifers

Head count priced today: 24,600

Weighted avg weight:             851

Weighted avg net price:    164.29

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales Wednesday saw no new trade to report dressed bids have been reported from 225.00-228.00 delivered. Bids are 7.00-8.00 lower than the previous week. Live bids have been reported in the low to mid 130's and are 7.00 lower than last week's weighted average price.   Packers want to buy cattle at lower money while cattle feeders seem willing to carry cattle into next week. The way things are shaping up sale volumes will be very light.

 

Livestock Slaughter under Federal Inspection:                                 

                                   Cattle       Calves     Hogs          Sheep

Thursday (est            114,000     2,000      486,000      7,000

Week ago (est)         116,000     2,000      463,000      7,000

Year ago (act)           122,000     2,000      410,000      7,000

Week to date (est)    462,000     8,000   1,943,000    31,000

Last Week (est)        349,000     6,000    1,423,000    22,000

Last Year (act)          481,000   10,000    1,750,000    31,000

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

                     Wednesday           90,000                     27,000

                                                

Boxed Beef:

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     219.97     198.60

Change from prior day:      +0.08       +0.20

Choice/Select spread:        21.37

Total Load Count (Cuts, Trimmings, Grinds): 122

 

Cutter Cow Cutout: 175.79… +0.18

 

CME Feeder Cattle Index: 136.65… +0.71

 

Futures…

Live Cattle:

October: 98.72… +0.22

December: 104.95… +1.33

February: 111.20… +1.03

Feeder Cattle:

September: 136.85… +0.78

October: 134.50… +0.48

November: 133.90… +0.35

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September Hogs: 63.17… +3.00

October Crude Oil: 55.09… -0.66

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December Corn: 3.6725… +0.0725

December Soybeans: 8.9550… +0.2900

December Wheat: 4.8375… +0.0625

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Grain Cash Bids:

Kansas City Corn: 3.65… +0.07

Kansas City Soybeans: 8.44… +0.35

Kansas City Wheat: 4.71… +0.06

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Financial Markets:

Dow Jones Industrial Average: 27,182.59… +45.55

S & P 500: 3,009.63… +8.70

NASDAQ: 8,194.47… +24.79

U.S. Dollar Index: 98.37… -0.28