Jan 08 2019

Texas Daily Ag Market News Summary Posted 5 years 103 days ago by Administrator Account

Daily Market Summary for January 8th  

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, Tuesday negotiated cash trade was mostly inactive on light demand in all feeding region. 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: 96    Week Ago: none    Year Ago: 28,672

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 18,900

Weighted avg weight:        864.00

Weighted avg net price:    196.79

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Monday saw no new trade to report. 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 at a 5.00 discount against the Nebraska market. Carcass weights have been slow to moderate. For the week ending December 29th western Canadian steer carcass weights averaged 923 lbs, weights are 41 lbs larger than the same week last year. 

 

Livestock Slaughter under Federal Inspection:                                  

                                    Cattle      Calves    Hogs          Sheep

Tuesday (est           119,000    2,000     480,000     8,000

Week ago (est)             0               0               0              0

Year ago (act)          118,000    2,000     454,000     9,000

Week to date (est) 237,000    4,000     960,000    16,000

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

Last Year (act)          235,000    4,000     912,000    17,000

 

Boxed Beef: 

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

Cutout Values... Choice       Select

Current Cutout Values:    213.98     207.26

Change from prior day:       -0.30       -0.95

Choice/Select spread:        +6.72

 

CME Feeder Cattle Index: 145.63… -0.43

 

Futures

Live Cattle:

February: 125.30… +2.10

April: 126.15… +1.08

June: 117.47… +0.95

Feeder Cattle:

January: 147.62… +1.62

March: 145.45… +1.55

April: 146.10… +1.40

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February Hogs: 62.60… +0.70

January Crude Oil: 49.78… +1.26

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March Corn: 3.8000… -0.0225

January Soybeans: 9.0625… -0.0600

March Wheat: 5.1775… +0.0100

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Grain Cash Bids:

Kansas City Corn: 3.76… -0.02

Kansas City Soybeans: 8.73… -0.06

Kansas City Wheat: 5.30… +0.02

 

Financial Markets: 

Dow Jones Industrial Average: 23,787.45… +256.10

S & P 500: 2,574.41… +24.72

NASDAQ: 6,897.00… +73.53

U.S. Dollar Index: 95.93… +0.23