Dec 04 2018

Texas Daily Ag Market News Summary Posted 5 years 359 days ago by Administrator Account

Daily Market Summary for December 4th  

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, negotiated cash trade was mostly inactive on light demand in all feeding regions. The latest established market in any feeding region was last week, with live purchases in the Texas Panhandle mostly at 118.00, with a few up to 118.50. Last week in Kansas, live purchases traded at 118.00. Last week in Nebraska, live purchases traded from 116.00-118.50 with dressed purchases from 183.00-185.00. For the previous week in the Western Cornbelt, live purchases traded from 114.00-116.00 with dressed purchases from 183.00-185.00.

 

Negotiated Sales:

Confirmed: 556    Week Ago: 300    Year Ago: 347

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 27,200

Weighted avg weight:       863.00

Weighted avg net price:   186.43

 

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 steady with the previous week. Looking at the most recent export data. Canadian fed cattle and cow exports to the US totaled just over 9,700 head, volumes are down 11% compared to the same week last year. YTD Canadian feeder cattle exports are up 62% compared to last year.

 

Livestock Slaughter under Federal Inspection:                                  

                                 Cattle       Calves    Hogs          Sheep

Tuesday (est           121,000    2,000     478,000      9,000

Week ago (est)       121,000    2,000     469,000      9,000

Year ago (act)         118,000    2,000     465,000      9,000

Week to date (est) 240,000    4,000     945,000    17,000

Last Week (est)       236,000    4,000     915,000    17,000

Last Year (act)         238,000    4,000     932,000    18,000

 

Boxed Beef: 

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

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Cutout Values...              Choice       Select

Current Cutout Values:    213.86     197.51

Change from prior day:      +0.78       -1.67

Choice/Select spread:      +16.35

 

Live Cattle Futures:

December: 117.70… +0.83

February: 121.65… +1.48

April: 122.90… +1.28

Feeder Cattle Futures:

January: 144.40… -0.10

March: 141.85… +0.40

April: 142.90… +0.55

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CME Feeder Cattle Index: 146.72… -1.13

December Hog Futures: 56.87… -1.15

Nearby Crude Oil Futures Contract: 53.25… +0.30

 

National Grain Market Summary:

Compared to yesterday, cash bids for corn, soybeans, and sorghum were higher, while wheat was mixed.  The monthly USDA Grain Crushing report showed corn use for ethanol in October has slipped 1.79% from a year ago at 461.7 MBU but was still 3.6% larger than September.  Soybeans had a record crush of 182.95 MBU by US plants in October.  This is an 8.1% jump over September and 4% larger than a year ago.

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Kansas City Corn: 3.75… +0.02

Kansas City Soybeans: 8.78… +0.06

Kansas City Wheat: 4.98… -0.02

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December Corn Futures: 3.7425… +0.0300

January Soybean Futures: 9.1175… +0.0600

December Wheat Futures: 5.1925… +0.0350

 

Financial Markets: 

Dow Jones Industrial Average: 25,027.07... -799.36

S & P 500: 2,700.09... -90.28

NASDAQ: 7,158.43... -283.08

U.S. Dollar Index: 96.96... -0.02

Cotton (www.ams.usda.gov): 

December Cotton Futures: 78.77… -0.14

Milk (www.cmegroup.com): 

November Class III Milk Futures: 14.47… +0.01