Apr 12 2019

Texas Daily Ag Market News Summary Posted 5 years 9 days ago by Administrator Account

Daily Market Summary for April 12th  

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, trading has been limited on light to moderate demand in the Northern Plains and Western Cornbelt. Trading has been inactive on light demand in the Southern Plains. Not enough trade in any region for an adequate market trend. The last established market in the Southern Plains was on Wednesday, with live purchases at 124.00. For the prior week in Nebraska, live trades were from 126.00-126.50 with the bulk at 126.00. Dressed purchases were from 204.00-206.00. In Colorado last week, live trades were at 126.00. For the previous week in the Western Cornbelt, live and dressed trades were from 127.00-128.00 and 204.00-206.00, respectively.

  

Negotiated Sales:

Confirmed: 5,949 --- Week Ago: 18,755 --- Year Ago: 15,493

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 33,400

Weighted avg weight:            858

Weighted avg net price:   202.40

   

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Thursday saw light trade develop with dressed sales marked at 268.00 delivered. Sales are 2.00 lower than last week. Buyers were indicating cattle that they bought this week would be lifted in 2-3 weeks. Cash to futures basis levels are unchanged from last week. For the second week in a row some fed calves did sell. 

 

Livestock Slaughter under Federal Inspection:                                  

                                  Cattle       Calves     Hogs         Sheep

Friday (est                118,000     2,000        435,000      8,000

Week ago (est)        107,000     2,000        417,000      8,000

Year ago (act)          116,000     3,000        457,000      6,000

Week to date (est)  589,000   11,000     2,290,000    43,000

Last Week (est)       584,000   12,000     2,316,000    41,000

Last Year (act)          594,000   11,000    2,286,000    37,000

Saturday (est             45,000        0               94,000       1,000

Week ago (est)          37,000        0             142,000       2,000

Year ago (act)            17,000        0               85,000       1,000

Week to date (est)   634,000   11,000     2,384,000    44,000

Last Week (est)       621,000    12,000     2,458,000    43,000

Last Year* (act)       611,000    10,000     2,372,000    38,000

2019 YTD               9,064,000  169,000  36,542,000   569,000

2018 *YTD             8,981,000  152,000  35,594,000   576,000

Percent change         0.9%      11.3%        2.7%          -1.1%

Previous Day (Estimated)  Steers & Heifers     Cows & Bulls

                           Thursday          87,000                    24,000

 

Boxed Beef: 

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     228.84    221.02

Change from prior day:       +0.01      +1.07

Choice/Select spread:            782

Total Load Count (Cuts, Trimmings, Grinds): 120

 

Cutter Cow Cutout: 169.17… -0.30

  

CME Feeder Cattle Index: 142.78… -0.57

 

Futures

Live Cattle:

April: 126.55… +0.55

June: 121.45… +1.03

August: 118.20… +0.83

Feeder Cattle:

April: 145.42… Unchanged

May: 150.50… +0.65

August: 158.70… +1.05

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April Hogs: 79.30… +0.08

April Crude Oil: 63.89… +0.31

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May Corn: 3.6100… +0.0100

May Soybeans: 8.9525… Unchanged

May Wheat: 4.6450… +0.0400

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Weekly National Grain Market Review:

Compared to last week, cash bids for wheat and soybeans were mixed while corn and sorghum was lower.  Ethanol production for week ending April 5th totaled 1.002 million barrels per day, a slight increase compared to the week prior.  Ethanol stocks were decreased by 799,000 barrels to 23.2 mb. 

Grain Cash Bids:

Kansas City Corn: 3.64… +0.02

Kansas City Soybeans: 8.53… -0.02

Kansas City Wheat: 4.42… -0.04

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Financial Markets:

Dow Jones Industrial Average: 26,412.30… +269.25

S & P 500: 2,907.41… +19.09

NASDAQ: 7,984.16… +36.80

U.S. Dollar Index: 96.96… -0.21

Cotton (www.ams.usda.gov): 

May Cotton Futures: 78.11 … +1.13

Milk (www.cmegroup.com): 

April Class III Milk Futures: 15.92… +0.01