Jan 29 2019

Texas Daily Ag Market News Summary Posted 5 years 78 days ago by Administrator Account

Daily Market Summary for January 29th  

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 trading has been at a standstill in the Southern Plains, Nebraska and the Western Cornbelt. Last week in Kansas and Nebraska live cash trades moved at 123.00. Dressed cash trades in Nebraska moved 197.00. For the prior week in the Western Cornbelt live cash trades moved from 123.00-126.00 and dressed cash trades moved mostly at 197.00. Two weeks ago live cash trades moved at 124.00 in the Texas Panhandle.

 

Negotiated Sales:

Confirmed: 16    Week Ago: 2,080    Year Ago: 10,098

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 22,000

Weighted avg weight:       845.00

Weighted avg net price:    197.94

 

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 larger than the previous week. Western Canadian fed slaughter for the week ending January 19th totaled just short of 31,000 head, slaughter volumes are 13% larger than the same time last year. Carcass weight still remain historically larger. Western Canadian steer and heifer carcass weights are 45lb and 36lb larger than last year. 

 

Livestock Slaughter under Federal Inspection:                                  

                                  Cattle       Calves      Hogs         Sheep

Tuesday (est            119,000    2,000     473,000      8,000

Week ago (est)        118,000    2,000     475,000      9,000

Year ago (act)          116,000    2,000     468,000      8,000

Week to date (est)  237,000    4,000     943,000    14,000

Last Week (est)       235,000    4,000     876,000    17,000

Last Year (act)         234,000    4,000     931,000    16,000

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

                           Monday            94,000                 24,000

 

Boxed Beef: 

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

Cutout Values...                 Choice     Select

Current Cutout Values:     218.13     212.57

Change from prior day:       +0.73       +0.96

Choice/Select spread:           5.36

Total Load Count (Cuts, Trimmings, Grinds):  114

 

CME Feeder Cattle Index: 143.09… (0.40)

 

Futures

Live Cattle:

February: 126.47… +0.07

April: 127.80… +0.43

June: 117.40… +0.40

Feeder Cattle:

January: 142.56… (0.82)

March: 144.25… (0.10)

April: 145.70… +0.10

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February Hogs: 57.32… (0.65)

March Crude Oil: 53.31… +1.32

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March Corn: 3.7725… (0.0250)

March Soybeans: 9.1900… (0.0425)

March Wheat: 5.1325… (0.0550)

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Grain Cash Bids:

Kansas City Corn: 3.69… (0.03)

Kansas City Soybeans: 8.66… (0.04)

Kansas City Wheat: 4.88… (0.06)

 

Financial Markets:

Dow Jones Industrial Average: 24,579.96… +51.74

S & P 500: 2,640.00… (3.85)

NASDAQ: 7,028.29… (57.40)

U.S. Dollar Index: 95.81… +0.05

Cotton (www.ams.usda.gov): 

March Cotton Futures: 74.15… +0.30

Milk (www.cmegroup.com): 

January Class III Milk Futures: 13.98… +/-0.00