Jan 23 2019

Texas Daily Ag Market News Summary Posted 5 years 87 days ago by Administrator Account

Daily Market Summary for January 23rd  

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 Wednesday, negotiated cash trade was mostly inactive on light demand in all feeding regions. A few live purchases in the Western Cornbelt ranging from 122.00-125.00 were reported, however not enough for an adequate market test. The latest established market in any feeding region was last week, with live purchases in the Southern Plains and Nebraska at 124.00. Dressed purchases in Nebraska traded at 197.00. Last week in the Western Cornbelt, live purchases traded from 123.00-125.00 with dressed purchases at 197.00.

 

Negotiated Sales:

Confirmed: 1,579    Week Ago: 558    Year Ago: 72

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 16,300

Weighted avg weight:       847.00

Weighted avg net price:    199.41

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Tuesday saw no new trade to report, but there is a chance scattered trade could develop by this afternoon. Technical price levels have eased from the beginning of the week. Reduced slaughter hours has moderated demand for cattle. On a positive note, packers are lifting cattle rather timely. With weaker cash prices in the US early this week, this would suggest Canadian packers are not going to want to pay more for cattle.

 

Livestock Slaughter under Federal Inspection:                                  

                                 Cattle       Calves    Hogs           Sheep

Wednesday (est     117,000    2,000      466,000      5,000

Week ago (est)       120,000    2,000      480,000      7,000

Year ago (act)         115,000    2,000      465,000      6,000

Week to date (est)  352,000    6,000   1,342,000    22,000

Last Week (est)       359,000    6,000   1,423,000    22,000

Last Year (act)          313,000    6,000   1,306,000    21,000

Previous Day Estimated  --  Steer and Heifer -- Cow and Bull

                 Tuesday                      93,000                  25,000

 

Boxed Beef: 

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

Cutout Values...                 Choice     Select

Current Cutout Values:     217.21     212.04

Change from prior day:       +0.87       +0.32

Choice/Select spread:           5.17

Total Load Count (Cuts, Trimmings, Grinds):  134

 

CME Feeder Cattle Index: 141.58… -0.04

 

Futures

Live Cattle:

February: 125.55… +0.43

April: 126.50… +0.43

June: 116.85… +0.43

Feeder Cattle:

January: 143.02… +1.97

March: 143.65… +2.15

April: 144.67… +1.72

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February Hogs: 60.77… -0.70

March Crude Oil: 52.62… -0.39

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March Corn: 3.7875… -0.0025

March Soybeans: 9.1500… +0.0575

March Wheat: 5.2600… +0.0475

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Grain Cash Bids:

Kansas City Corn: 3.71… Unchanged

Kansas City Soybeans: 8.62… +0.06

Kansas City Wheat: 5.01… +0.05

 

Financial Markets:

Dow Jones Industrial Average: 24,575.62… +171.14

S & P 500: 2,638.70… +5.80

NASDAQ: 7,025.77… +5.41

U.S. Dollar Index: 96.13… -0.17

Cotton (www.ams.usda.gov): 

March Cotton Futures: 73.52… +0.39

Milk (www.cmegroup.com): 

January Class III Milk Futures: 13.98… -0.01