CME GRAINS: Corn: $3.785 (+3.25); Soybeans: $10.435 (+15.00); Wheat: $5.75 (+18.75) (Fri 1:20 pm)
STOCK FLASH: Dow 30: 27,657.42 (-244.56); Nasdaq: 10,793.28 (-117.00); S&P 500: 3,319.33 (-37.68) (Fri 3:00 pm)
MEATBOARD: Boxed Beef Choice: $215.64 (+0.59); Pork Carcass: $87.53 (+0.50); Chicken Breast: $99.14 (+3.86 ) (Fri pm)
Compared to last week, coming back after last week’s Labor Day Holiday many markets this week are compared to two weeks ago, especially some of the large volume Monday sales and early week sales. Order buyers this week flexed their muscles pursing the long green grass yearlings over 750 lbs, mostly 850-1000 lbs selling steady to 5.00 higher with instances 8.00 higher.
--Weekly beef production reported at 540.1 million pounds, up 12.6% from last week, down 0.7% from last year
--Weekly cattle slaughter reported at 645K head, up 12.4% from last week, down 2.4% from last year
--Live cattle weights reported this week at 1,372 lbs., up 2 lbs. from last week, up 13 lbs. from last year
--The United States has produced 18.9 billion pounds of beef and 19.8 billion pounds of pork so far in 2020
--Weekly pork production reported at 543.5 million pounds, up 11.2% from last week, down 0.6% from last year
--Weekly red meat production reported at 1.087 billion pounds, up 11.9% from last week, down 0.7% from last year
--Weekly hog slaughter reported at 2.587 million head, up 11.4% from last week, down 0.5% from last year
Cattle and calves had the highest agricultural cash receipts in Kansas in 2019 followed by corn, soybeans, wheat & sorghum. Cattle and calves accounted for roughly 51% of agricultural cash receipts in Kansas in 2019. Kansas had four commodities that generated more than $1 billion in cash receipts in 2019: cattle and calves, corn, soybeans and wheat.
Nebraska had the highest cash receipts for cattle in 2019 followed by Texas, Kansas, Iowa & Colorado. Nebraska was the only state in 2019 to have cash receipts for cattle over $10 billion. Nebraska, Texas & Kansas accounted for roughly 41% of the cash receipts for cattle in the United States in 2019. Nebraska, Texas, Kansas, Iowa & Colorado accounted for roughly 53% of the cash receipts for cattle in the United States in 2019. Thirteen (13) states had cash receipts for cattle over $1 billion in 2019.
Steer prices in 2020 are projected at $107.30, unchanged from last month.
Barrow and gilt prices in 2020 are projected at $39.40, up $1.30 from last month.
Broiler prices in 2020 are projected at 70.9 cents, up 0.5 cents from last month.
Turkey prices in 2020 are projected at $1.058, up 0.3 cents from last month.
Egg prices in 2020 are projected at $1.149, up 0.5 cents from last month.
Milk prices in 2020 are projected at $17.75, down $0.20 from last month.
CATTLE FLASH: USDA estimates daily cattle slaughter at 111,000 head, compared to 119,000 last week and 116,000 last year (Fri)
CATTLE FLASH: Wrapping It Up... The negotiated cash cattle trade volume turned out to be much bigger than thought coming into today according to the USDA, as 87k head were reported having sold. Nebraska quietly sold 18k head mostly yesterday and have continued to sell cattle today, so the weekly total could reach close to 100k head before the weekend (The Beef)
DAILY DROP: The hide and offal value was estimated at $8.03, up 13 cents from Thursday
Corn Progress By State
Estimated Weekly Meat Production
Export Sales Highlights
Farms and Land in Farms Highlights
Livestock, Dairy & Poultry Outlook
Milk Production By State
National Drought Monitor
National Feeder Cattle Report
National Grain Report
Natural Gas Weekly Update
Number Of Farms By State
Quarterly Hogs & Pigs
Top 25: Largest Steer & Heifer Strings Sold Today
United States Ag Production Report
USDA Grain Stocks Report
USDA Prospective Plantings Report
WASDE: Feed Grain Outlook
WASDE: Livestock, Dairy & Poultry Outlook
WASDE: Oilseed Outlook
WASDE: Wheat Outlook
Rob Cook, RobCookKC@gmail.com