Jan 04 2019

Texas Daily Ag Market News Summary Posted 5 years 106 days ago by Administrator Account

Daily Market Summary for January 4th  

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, Friday in Nebraska and the Western trading and demand has been moderate. In Nebraska, when compared to last week, dressed cash trades moved steady at 195.00. A few live cash trades moved from 122.00-12.50, however, not enough for a full market trend. Thursday was the last fully reported live cash trade market at 123.00. In the Western Cornbelt, when compared to last week, live cash trades moved 1.00 to 2.00 higher from 121.00 to 122.00 and dressed cash trades moved steady to 4.00 higher from 194.00 to 195.00. Thus far for Friday in the Southern Plains trading has been inactive with very light demand. The last fully reported market was on Thursday with live cash trades at 123.00.

 

Negotiated Sales:

Confirmed: 48,409    Week Ago: 5,106    Year Ago: 69,832

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 23,600

Weighted avg weight:        882.00

Weighted avg net price:    193.87

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Thursday saw light trade develop with dressed sales ranging from 264.00-268.00 delivered. Sales are 2.00-6.00 higher than the previous week. Buyers were indicating cattle that they bought this week would be lifted in two weeks. Buying interest in the cash market was mixed this week with one plant more aggressive than the others. There is a good chance packers will run on Saturday to make up for he holiday on Tuesday.

 

Livestock Slaughter under Federal Inspection:                                  

                                    Cattle      Calves    Hogs          Sheep

Friday (est                119,000    2,000      477,000      8,000

Week ago (est)        115,000    2,000      467,000      8,000

Year ago (act)          119,000    3,000      439,000      7,000

Week to date (est)   428,000    7,000   1,835,000    29,000

Last Week (est)       352,000    6,000   1,453,000    25,000

Last Year (act)         461,000    9,000   1,757,000    31,000

Saturday (est             92,000        0           427,000     1,000

Week ago (est)          86,000        0           431,000     2,000

Year ago (act)            84,000    1,000       366,000         0

Week to date (est)   520,000    7,000    2,262,000    30,000

Last Week (est)       438,000    6,000    1,884,000    27,000

Last Year* (act)       545,000   10,000   2,122,000    31,000

2019 YTD                 449,000     6,000   1,860,000    26,000

2018 *YTD               545,000   10,000   2,122,000    31,000

 

Boxed Beef: 

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

Cutout Values... Choice       Select

Current Cutout Values:    214.51     207.66

Change from prior day:       -1.98       -1.72

Choice/Select spread:        +6.85

 

CME Feeder Cattle Index: 145.60… -0.46

 

Futures

Live Cattle:

February: 121.92… -1.30

April: 124.00… -1.40

June: 115.55… -1.22

Feeder Cattle:

January: 144.90… -1.62

March: 142.82… -1.63

April: 143.65… -1.57

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February Hogs: 61.95… -0.20

January Crude Oil: 47.96… +0.87

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March Corn: 3.8300… +0.0325

January Soybeans: 9.0950… +0.0925

March Wheat: 5.1700… +0.0325

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Weekly Grain Summary:

Compared to last week, cash bids for wheat, corn, sorghum and soybeans were mostly higher.  Grain futures have made some positive gains this week with corn and soybeans moving above their 50 day averages for the first time since Dec 20th.  Ethanol margins are said to have improved this week but may still be an issue with some Midwest plants still ramping down production or remaining in idle.  Export sales and shipments were not reported this week due to the government shutdown.  Wheat was 2 cents lower to 38 cents higher.  Corn was 5 1/4 to 38 1/4 cents higher.  Sorghum was 1 to 10 cents higher.  Soybeans were 30 3/4 to 35 3/4 cents higher.

 

Grain Cash Bids:

Kansas City Corn: 3.79… +0.03

Kansas City Soybeans: 8.77… +0.09

Kansas City Wheat: 4.90… +0.01

 

Financial Markets: 

Dow Jones Industrial Average: 23,433.16… +764.94

S & P 500: 2,531.94… +84.05

NASDAQ: 6,738.86… +275.36

U.S. Dollar Index: 96.21… -0.06

Cotton (www.ams.usda.gov): 

March Cotton Futures: 72.52… +1.69

Milk (www.cmegroup.com): 

January Class III Milk Futures: 14.25… -0.07