Dec 17 2018

Texas Daily Ag Market News Summary Posted 5 years 123 days ago by Administrator Account

Daily Market Summary for December 17th 

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, Monday trade in the Southern Plains and Nebraska has been at a standstill. In the Western Cornbelt trading has been inactive on very light demand. Not enough trades for a market trend. Last week live in the Southern Plains live cash trades moved at mostly 119.00. For the prior week in Nebraska live and dressed cash trades moved mostly at 118.00 and 188.00, respectively. For the previous week in the Western Cornbelt live and dressed cash trades moved mostly at 117.00 and 187.00, respectively.

 

Negotiated Sales:

Confirmed: 217    Week Ago: 262    Year Ago: 596

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 44,800

Weighted avg weight:       854.00

Weighted avg net price:    189.93

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales last week saw light trade develop with weighted average steer and heifer prices closing the week at 154.50 and 154.00 respectively. Prices are 3.00 higher than the previous week. Fed prices have strengthened for six consecutive weeks and prices are now at their point since July. Looking at the non-fed market butcher cows and bulls traded steady to 1.00 higher through commercial auction facilities. This week will be the last full week for packers to buy cows through action facilities before the holidays which should support prices. 

 

Livestock Slaughter under Federal Inspection:                                  

                                 Cattle       Calves    Hogs          Sheep

Monday (est           108,000    2,000     477,000     8,000

Week ago (est)       119,000    2,000     479,000     8,000

Year ago (act)          118,000    2,000     469,000    10,000

 

Boxed Beef: 

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

Cutout Values...              Choice       Select

Current Cutout Values:    212.67     203.76

Change from prior day:      +1.71       +0.62

Choice/Select spread:        +8.91

 

CME Feeder Cattle Index: 146.20… -0.70

 

Futures

Live Cattle:

December: 119.02… -0.55

February: 121.55… -0.85

April: 123.85… -0.65

Feeder Cattle:

January: 145.37… -2.20

March: 143.32… -2.45

April: 144.10… -2.15

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March Corn: 3.8400… -0.0075

January Soybeans: 9.0475… +0.0425

March Wheat: 5.3525… +0.0525

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February Hogs: 63.82… -0.68

January Crude Oil: 49.88… -1.32

 

Financial Markets: 

Dow Jones Industrial Average: 23,592.98… -507.53

S & P 500: 2,545.94… -54.01

NASDAQ: 6,753.73… -156.94

U.S. Dollar Index: 97.14… -0.29

Cotton (www.ams.usda.gov): 

March Cotton Futures: 78.54… -1.06

Milk (www.cmegroup.com): 

December Class III Milk Futures: 13.80… +/-0.00