Dec 03 2018

Texas Daily Ag Market News Summary Posted 5 years 139 days ago by Administrator Account

Daily Market Summary for December 3rd  

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! 

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Slaughter Cattle:  

Monday negotiated cash trade was mostly inactive on light demand in all feeding regions. The latest established market in any feeding region was last week, with live purchases in the Texas Panhandle mostly at 118.00, with a few up to 118.50. Last week in Kansas, live purchases traded at 118.00. Last week in Nebraska, live purchases traded from 116.00-118.50 with dressed purchases from 183.00-185.00, For the previous week in the Western Cornbelt, live purchases traded from 114.00-116.00 with dressed purchases from 183.00-186.00.

 

Negotiated Sales:

Confirmed: 394    Week Ago: 1,878    Year Ago: 798

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 35,900

Weighted avg weight:        859.00

Weighted avg net price:    186.90

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales last week saw light trade develop with weighted average steer and heifer prices closing the week at 150.75 and 150.25 respectively. Prices are 1.00-2.00 higher than the previous week. Fed prices are trading at their highest point in six weeks. Looking at the non-fed market, butcher cows traded steady to 1.00 lower through commercial auction facilities last week. Butcher cows are trading 13.00-14.00 lower than last year. Non-fed prices seasonally strengthen into December.

 

Livestock Slaughter under Federal Inspection:                                  

                                   Cattle       Calves    Hogs          Sheep

Monday (est            119,000    2,000     476,000     8,000

Week ago (est)       115,000    2,000     446,000     8,000

Year ago (act)          120,000    2,000     467,000     9,000

 

Boxed Beef: 

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

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Cutout Values...              Choice       Select

Current Cutout Values:    213.08     199.18

Change from prior day:       +0.47       +0.77

Choice/Select spread:       +13.90

 

Live Cattle Futures:

December: 116.87… -0.05

February: 120.17… -0.33

April: 121.62… -0.38

Feeder Cattle Futures:

January: 144.50… -0.72

March: 141.45… -1.40

April: 142.35… -1.27

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CME Feeder Cattle Index: 147.85… +0.72

December Hog Futures: 58.02…+0.15

Nearby Crude Oil Futures Contract: 52.95… +2.02

 

National Grain Market Summary:

Compared to Friday, cash bids for wheat and corn were mixed, while soybeans and sorghum were higher.  Corn export inspections, for the week ending November 29th, still remain ahead of the anticipated pace for the 2018/19 marketing year. Corn was reported around 40.7 million bushels, down about 5.7 million from the previous week and nearly double that of this time last year.  Soybeans were pegged 38.2 million bu, down almost 3 million bu from last week.  Wheat came in at 17.3 million bushels, up almost 7 million from a week ago.

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Kansas City Corn: 3.73… +0.02

Kansas City Soybeans: 8.72… +0.11

Kansas City Wheat: 5.00… -0.02

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December Corn Futures: 3.7125… +0.0475

January Soybean Futures: 9.0575… +0.1100

December Wheat Futures: 5.1575… Unchanged

 

Financial Markets: 

Dow Jones Industrial Average: 25,826.43… +289.97

S & P 500: 2,790.37… +30.20

NASDAQ: 7,441.51… +110.97

U.S. Dollar Index: 96.99… -0.10

Cotton (www.ams.usda.gov): 

December Cotton Futures: 78.91… +1.75

Milk (www.cmegroup.com): 

November Class III Milk Futures: 14.46… +/-0.00