Jan 11 2019

Texas Daily Ag Market News Summary Posted 5 years 98 days ago by Administrator Account

Daily Market Summary for January 11th  

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, 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: 2,387    Week Ago: 48,409    Year Ago: 6,581

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 18,700

Weighted avg weight:       850.00

Weighted avg net price:   196.17

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Thursday saw light trade develop with dressed sales reported at 268.00 delivered. Sales are steady with prices seen on Wednesday and are steady to 3.00 higher than the previous week. Cattle that were bought this week were being scheduled for the week of January 21st delivery. There were some big cattle that sold this week and producers were negotiating flat bids with no weight breaks.

 

Livestock Slaughter under Federal Inspection:                                  

                                 Cattle      Calves     Hogs           Sheep

Friday (est               117,000    2,000       475,000      8,000

Week ago (est)       119,000    2,000       477,000      8,000

Year ago (act)         119,000    3,000       452,000      7,000

Week to date (est)  594,000  10,000   2,375,000    40,000

Last Week (est)      428,000     7,000   1,835,000    29,000

Last Year (act)        591,000   11,000   2,261,000    37,000

Saturday (est            32,000        0            190,000         0

Week ago (est)         92,000        0            427,000         0

Year ago (act)           20,000        0             179,000        0

Week to date (est) 626,000   10,000    2,565,000    40,000

Last Week (est)       520,000     7,000    2,262,000    29,000

Last Year* (act)       612,000   11,000    2,440,000    37,000

2019 YTD               1,075,000   16,000   4,431,000    66,000

2018 *YTD             1,157,000   21,000   4,562,000    68,000

Percent change          -7.1%     -24.5%        -2.9%        -3.2%

 

Boxed Beef: 

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

Cutout Values...               Choice      Select

Current Cutout Values:    212.46     206.27

Change from prior day:       -1.50      -1.50

Choice/Select spread:        +6.19

 

CME Feeder Cattle Index: 145.46… -0.09

 

Futures

Live Cattle:

February: 124.97… +0.10

April: 126.37… +0.45

June: 117.20… -0.17

Feeder Cattle:

January: 146.12… -0.63

March: 144.90… -0.17

April: 145.75… +0.08

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February Hogs: 62.65… -1.42

January Crude Oil: 51.59… -1.00

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March Corn: 3.7825… +0.0200

January Soybeans: 8.9925… +0.0375

March Wheat: 5.1950… +0.0575

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Weekly Grain Review:

Compared to last week, cash bids for wheat, corn, and soybeans were mostly lower while sorghum bids were mixed.  Grain futures closed lower yesterday.  Markets may have been pressured by a lack of fresh news and some sell-off in the grain market. Export sales and shipment numbers remain uncertain as the government shutdown rolls into its 20th day.  Wheat was 4 3/4 cents lower to 28 3/4 cents higher.  Corn was 50 1/2 cents lower to 2 1/4 cents higher.  Sorghum was 7 cents lower to 2 cents higher. Soybeans were steady to 19 cents lower.

Grain Cash Bids:

Kansas City Corn: 3.71… +0.02

Kansas City Soybeans: 8.60… +0.04

Kansas City Wheat: 5.28… +0.10

 

Financial Markets: 

Dow Jones Industrial Average: 23,995.95… -5.97

S & P 500: 2,596.26… -0.38

NASDAQ: 6,971.48… -14.59

U.S. Dollar Index: 95.68… +0.12

Cotton (www.ams.usda.gov): 

March Cotton Futures: 72.49… -0.36

Milk (www.cmegroup.com): 

January Class III Milk Futures: 14.07… -0.01