Jan 02 2019

Texas Daily Ag Market News Summary Posted 5 years 113 days ago by Administrator Account

Daily Market Summary for January 2nd  

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 trading has been at a standstill in the Southern Plains and Nebraska. In the Western Cornbelt negotiated cash trading has been inactive with very light demand. Not enough trades for a market trend. For the prior week in the Southern Plains and Nebraska live cash trades moved at 123.00 and dressed cash trades, in Nebraska, moved at 195.00. Last week in the Western Cornbelt live cash trades moved from 119.00-121.00 and dressed cash trades moved from 190.00-195.00.

 

Negotiated Sales:

Confirmed: 119    Week Ago: 45    Year Ago: 35

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 20,300

Weighted avg weight:        862.00

Weighted avg net price:    190.32

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales last week saw no new trade to report but the market tone was steady to higher. Last week dressed bids were reported at 262.00 delivered. Buyers were indicating cattle that they bought last week would not be lifted until the week of January 14th. Based on the bids seen last week Alberta fed prices were at an estimated 11.00 discount against the Nebraska market.

 

Livestock Slaughter under Federal Inspection:                                  

                          Cattle      Calves    Hogs          Sheep

Monday (est      71,000    1,000     407,000     4,000

Week ago (est)  16,000        0         75,000         0

Year ago (act)     1,000         0              0             0

 

Boxed Beef: 

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

Cutout Values... Choice       Select

Current Cutout Values:    216.64     210.91

Change from prior day:      +1.29       +0.25

Choice/Select spread:        +5.73

 

CME Feeder Cattle Index: 145.18… Unchanged

 

Futures

Live Cattle:

February: 123.52… -0.35

April: 125.77… -0.48

June: 117.15… +0.08

Feeder Cattle:

January: 147.95… -0.90

March: 145.95… -0.80

April: 146.60… -0.65

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February Hogs: 61.70… +0.73

January Crude Oil: 46.54… +1.13

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March Corn: 3.7575… +0.0075

January Soybeans: 8.9475… +0.1225

March Wheat: 5.0675… +0.0350

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Grain Cash Bids:

Kansas City Corn: 3.72… +0.01

Kansas City Soybeans: 8.62… +0.14

Kansas City Wheat: 4.82… +0.06

 

Financial Markets: 

Dow Jones Industrial Average: 23,346.24… +18.78

S & P 500: 2,510.03… +3.18

NASDAQ: 6,665.94… +30.66

U.S. Dollar Index: 96.79… +0.77

Cotton (www.ams.usda.gov): 

March Cotton Futures: 70.84… -1.36

Milk (www.cmegroup.com): 

December Class III Milk Futures: 13.81… -0.02