Jan 07 2019

Texas Daily Ag Market News Summary Posted 5 years 102 days ago by Administrator Account

Daily Market Summary for January 7th  

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:  

As of 3:00 PM, Monday trade was very limited on light demand in Nebraska. A few early live purchases were reported at 122.50, however not enough for an adequate market trend. Trade was mostly inactive on light demand in all other feeding regions. The latest established market in any feeding region was last week with live purchases in the Southern Plains and Nebraska mostly at 123.00 with dressed purchases in Nebraska at 195.00. Last week in the Western Cornbelt, live purchases traded from 121.00-122.00 with dressed purchases from 194.00-195.00.

 

Negotiated Sales:

Confirmed: 743    Week Ago: 34    Year Ago: 7,787

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 42,800

Weighted avg weight:        848.00

Weighted avg net price:    195.80

 

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 160.25 and 159.00 respectively. Fed prices are now trading at the lowest point since May. All reported cash sales traded locally. Non-fed volumes through commercial auction facilities were light last week. On light volumes prices looked steady to slightly higher compared to the end of December.

 

Livestock Slaughter under Federal Inspection:                                  

                                    Cattle      Calves    Hogs          Sheep

Monday (est             118,000    2,000     480,000     8,000

Week ago (est)           71,000    1,000     402,000     4,000

Year ago (act)           117,000    2,000     458,000     8,000

 

Boxed Beef: 

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

Cutout Values... Choice       Select

Current Cutout Values:    214.28     208.21

Change from prior day:       -0.23       +0.55

Choice/Select spread:        +6.07

 

CME Feeder Cattle Index: 146.06… +0.46

 

Futures

Live Cattle:

February: 123.20… +1.28

April: 125.07… +1.07

June: 116.52… +0.97

Feeder Cattle:

January: 146.00… +1.10

March: 143.90… +1.08

April: 144.70… +1.05

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February Hogs: 61.90… +0.05

January Crude Oil: 48.52… +0.56

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March Corn: 3.8225… -0.0075

January Soybeans: 9.1225… +0.0275

March Wheat: 5.1675… -0.0025

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Grain Cash Bids:

Kansas City Corn: 3.78… -0.01

Kansas City Soybeans: 8.79… +0.02

Kansas City Wheat: 4.89… -0.01

 

Financial Markets: 

Dow Jones Industrial Average: 23,531.35… +98.19

S & P 500: 2,549.69… +17.75

NASDAQ: 6,823.47… +84.61

U.S. Dollar Index: 95.70… -0.43

Cotton (www.ams.usda.gov): 

March Cotton Futures: 72.75… +0.23

Milk (www.cmegroup.com): 

January Class III Milk Futures: 14.14… -0.11