Dec 07 2018

Texas Daily Ag Market News Summary Posted 5 years 356 days ago by Administrator Account

Daily Market Summary for December 7th  

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! 

---

Slaughter Cattle:  

As of 3:00 PM, trade was light to moderate on moderate demand in the Western Cornbelt. Compared to last week, early live purchases have traded 1.00 higher ranging from 115.00-117.00. Early dressed purchases have traded steady from 183.00-185.00. In Nebraska, trade was light on moderate demand. A few early dressed purchases traded at 185.00, however not enough for and adequate market test. Trade was mostly inactive on light demand in all other feeding regions. The latest established market in the Texas Panhandle was last week mostly at 118.00, with a few up to 118.50. Last week in Kansas last week, 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.

 

Negotiated Sales:

Confirmed: 13,417    Week Ago: 9,523    Year Ago: 4,234

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 17,300

Weighted avg weight:        848.00

Weighted avg net price:    187.18

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Thursday saw light trade develop with live sales marked at 152.00. Sales are 1.00 higher than last week's weighted average price. Dressed sales were reported at 254.00 delivered. Sales are 1.00-2.00 higher than last week. Cattle that were bought this week were being scheduled for the week of December 24th delivery. 

 

Livestock Slaughter under Federal Inspection:                                  

                                   Cattle       Calves    Hogs          Sheep

Friday (est               121,000      2,000           473,000        7,000

Week ago (est)       121,000      2,000           473,000         8,000

Year ago (act)         116,000      3,000            458,000        7,000

Week to date (est)  601,000    10,000       2,366,000      41,000

Last Week (est)       597,000    10,000       2,339,000      42,000

Last Year (act)         594,000    11,000       2,314,000      40,000

Saturday (est             65,000         0              192,000           0

Week ago (est)          43,000         0              192,000           0

Year ago (act)           46,000         0               227,000          2,000

Week to date (est)  666,000     10,000       2,558,000       41,000

Last Week (est)       640,000     10,000       2,531,000       42,000

Last Year* (act)       639,000     10,000       2,541,000       42,000

2018 YTD              30,685,00   525,000   116,044,000  1,863,000

2017 *YTD            29,963,00   471,000   113,352,000   1,813,000

Percent change      +2.4%      +11.4%       +2.4%           +2.7% 

Boxed Beef: 

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

---

Cutout Values...              Choice       Select

Current Cutout Values:    214.29     200.50

Change from prior day:       +1.62       +2.28

Choice/Select spread:       +13.79

 

Live Cattle Futures:

December: 117.90… -0.05

February: 121.52… -0.28

April: 123.62… +0.15

Feeder Cattle Futures:

January: 144.37… +0.17

March: 141.87… -0.08

April: 142.52… Unchanged

---

CME Feeder Cattle Index: 146.39

December Hog Futures: 54.25… -0.27

Nearby Crude Oil Futures Contract: 52.61… +1.12

 

National Grain Market Summary:

Compared to last week, cash bids for wheat were mixed, while corn, sorghum, and soybeans were higher.  USDA said wheat net sales of 711,800 metric tons for 2018/2019 were up 89 percent from the previous week and 58 percent from the prior 4-week average.  Exports of 480,700 MT were up 93 percent from the previous week and 43 percent from the prior 4-week average.  Corn net sales of 1,177,500 MT for 2018/2019 were down 7 percent from the previous week, but up 26 percent from the prior 4-week average.  Exports of 1,166,300 MT were up 11 percent from the previous week and 7 percent from the prior 4-week average.  Soybean net sales of 890,900 MT for 2018/2019 were up 42 percent from the previous week and 87 percent from the prior 4-week average.  Exports of 1,252,200 MT were up 22 percent from the previous week and 11 percent from the prior 4-week average.  Wheat was from 38 3/4 cents lower to 33 cents higher. Corn was 8 1/2 to 22 1/2 cents higher.  Sorghum was 18 to 49 cents higher. Soybeans were 18 1/4 to 22 1/4 cents higher.

 ---

Kansas City Corn: 3.76… +0.03

Kansas City Soybeans: 8.83… +0.07

Kansas City Wheat: 5.05… +0.17

 ---

March Corn Futures: 3.8550… +0.0275

January Soybean Futures: 9.1675… +0.0725

March Wheat Futures: 5.3125… +0.1575

 

Financial Markets: 

Dow Jones Industrial Average: 24,388.95… -558.72

S & P 500: 2,633.08… -62.87

NASDAQ: 6,969.25… -219.01

U.S. Dollar Index: 96.62… -0.15

Cotton (www.ams.usda.gov): 

March Cotton Futures: 80.23… +1.15

Milk (www.cmegroup.com): 

December Class III Milk Futures: 13.76… -0.02