Jan 30 2019

Texas Daily Ag Market News Summary Posted 5 years 80 days ago by Administrator Account

Daily Market Summary for January 30th  

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:  

Wednesday negotiated cash trading has been a standstill in the Southern Plains and Nebraska. In the Western Cornbelt negotiated cash trading has been inactive with very light demand. Not enough cash trades for a market trend. 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: 68    Week Ago: 1,579    Year Ago: 17,026

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 18,000

Weighted avg weight:        841.00

Weighted avg net price:    196.46

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Tuesday saw no new trade to report but there is a chance scattered trade could develop by this afternoon. Technical price levels have eased from the beginning of the week. Cattle performance has been excellent over the past couple of months. Producers will have to keep shuffling cattle along to manage weights.

 

Livestock Slaughter under Federal Inspection:                                  

                                  Cattle       Calves      Hogs         Sheep

Wednesday (est      112,000    2,000      261,000      6,000

Week ago (est)        117,000    2,000      466,000      5,000

Year ago (act)          119,000    2,000      464,000      6,000

Week to date (est)  349,000    6,000   1,197,000    20,000

Last Week (est)       352,000    6,000   1,342,000    22,000

Last Year (act)         353,000    6,000   1,395,000    22,000

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

                           Tuesday           93,000                 26,000

 

Boxed Beef: 

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

Cutout Values...                 Choice     Select

Current Cutout Values:     218.05     213.00

Change from prior day:       (0.08)       +0.43

Choice/Select spread:            5.05

Total Load Count (Cuts, Trimmings, Grinds): 133

 

CME Feeder Cattle Index: 142.99… (0.08)

 

Futures

Live Cattle:

February: 126.15… (0.32)

April: 128.05… +0.25

June: 117.70… +0.30

Feeder Cattle:

January: 142.37… (0.28)

March: 144.30… +0.05

April: 145.82… +0.12

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February Hogs: 57.45… +0.13

March Crude Oil: 54.23… +0.92

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March Corn: 3.8125… +0.0400

March Soybeans: 9.2100… +0.0200

March Wheat: 5.1675… +0.0350

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Grain Cash Bids:

Kansas City Corn: 3.73… +0.04

Kansas City Soybeans: 8.68… +0.02

Kansas City Wheat: 4.92… +0.04

 

Financial Markets:

Dow Jones Industrial Average: 25,014.86… +434.90

S & P 500: 2,681.05… +41.05

NASDAQ: 7,183.08… +154.79

U.S. Dollar Index: 95.45… (0.36)

Cotton (www.ams.usda.gov): 

March Cotton Futures: 74.36… +0.21

Milk (www.cmegroup.com): 

February Class III Milk Futures: 14.03… -0.02