Dec 11 2018

Texas Daily Ag Market News Summary Posted 5 years 129 days ago by Administrator Account

Daily Market Summary for December 11th  

he 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:  

As of 3:00 PM, Tuesday trading in the Southern Plains and Nebraska has been at a standstill. In the Western Cornbelt trading has been inactive on very light demand. Not enough trades for a market trend. Last week in the Southern Plains and Nebraska live cash trades moved mostly at 119.00 and dressed cash trades, in Nebraska, moved at 187.00. For the prior week in the Western Cornbelt live cash trades moved mostly at 116.00 and dressed cash trades ranged from 185.00-187.00.

 

Negotiated Sales:

Confirmed: 639    Week Ago: 556    Year Ago: 347

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 17,400

Weighted avg weight:        853.00

Weighted avg net price:    190.57

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Monday saw no new trade, this week's showlist has been compiled with volumes smaller than the previous week. Last week on a cash to cash basis Alberta fed prices traded 8.00 back of the Nebraska market. This is the weakest basis level seen this year. We are at the point where US buying interest could be more of a factor on the western Canadian fed market. 

 

Livestock Slaughter under Federal Inspection:                                  

                                 Cattle       Calves    Hogs          Sheep

Tuesday (est           122,000    2,000     479,000     9,000

Week ago (est)       121,000    2,000     478,000     9,000

Year ago (act)          117,000    2,000     468,000     9,000

Week to date (est) 241,000    4,000     958,000    17,000

Last Week (est)       240,000    4,000     945,000    17,000

Last Year (act)         234,000    4,000     930,000    18,000

 

Boxed Beef: 

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

Cutout Values...              Choice       Select

Current Cutout Values:    214.46     201.39

Change from prior day:      -0.96       +0.45

Choice/Select spread:      +13.07

 

Live Cattle Futures:

December: 118.37… +0.80

February: 122.15… +0.95

April: 124.52… +0.92

Feeder Cattle Futures:

January: 147.30… +2.28

March: 144.90… +2.15

April: 145.27… +2.00

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CME Feeder Cattle Index: 144.96… +0.96

February Hog Futures: 65.20… -1.62

Nearby Crude Oil Futures Contract: 51.65… +0.65

 

National Grain Market Summary:

Compared to yesterday, cash bids for soybeans and sorghum were higher, while wheat and corn were mixed.  Today’s WASDE report showed soybean carryout stayed the same at 955 million bushels compared to the analyst average of 938 million bushels.  Corn saw an increase of roughly 45 million bushels to 1.78 billion bushels.  This compares to the average analyst estimate of 1.74 billion bushels. The change for corn’s balance sheet came from the demand side of the equation with reductions from ethanol.  This puts corn stocks to use ratio at 11.8 percent.

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Kansas City Corn: 3.76… +0.01

Kansas City Soybeans: 8.82… +0.06

Kansas City Wheat: 5.15… -0.05

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March Corn Futures: 3.8475… +0.0075

January Soybean Futures: 9.1500… +0.0525

March Wheat Futures: 5.2100… -0.0425

 

Financial Markets: 

Dow Jones Industrial Average: 24,370.24… -53.02

S & P 500: 2,636.79… -0.93

NASDAQ: 7,031.83… +11.31

U.S. Dollar Index: 97.46… +0.27

Cotton (www.ams.usda.gov): 

March Cotton Futures: 80.02… +0.14

Milk (www.cmegroup.com): 

December Class III Milk Futures: 13.71… +0.06