Dec 10 2018

Texas Daily Ag Market News Summary Posted 5 years 353 days ago by Administrator Account

Daily Market Summary for December 10th  

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 trading 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 trade for a market trend. Last week in the Southern Plains and Nebraska live cash trades moved mostly at 119.00 and dressed cash trades, in Nebraska, moved at 187.00. For the prior week in the Western Cornbelt live cash trades moved mostly at 116.00 and dressed cash trades ranged from 185.00-187.00.

 

Negotiated Sales:

Confirmed: 262    Week Ago: 394    Year Ago: 202

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 48,000

Weighted avg weight:       850.00

Weighted avg net price:    188.60

 

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 151.00. Prices are steady to 1.00 higher than last week. Packer margins remain positive, Canadian AAA and AA are trading 5% higher than last year while fed prices about steady with last year. Looking at the non-fed market butcher cows traded steady to 2.00 higher through commercial auction facilities last week.  Annual lows could be in the books for the cow market.

 

Livestock Slaughter under Federal Inspection:                                  

                                 Cattle       Calves    Hogs          Sheep

Monday  (est            119,000    2,000     479,000     8,000

Week ago (est)        119,000    2,000     467,000     8,000

Year ago (act)          117,000    2,000     462,000     9,000

 

Boxed Beef: 

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

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Cutout Values...              Choice       Select

Current Cutout Values:    215.42     200.94

Change from prior day:       +1.14       +0.88

Choice/Select spread:       +14.48

 

Live Cattle Futures:

December: 117.57… -0.33

February: 121.20… -0.32

April: 123.60… -0.02

Feeder Cattle Futures:

January: 145.02… +0.65

March: 142.75… +0.88

April: 143.27… +0.75

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CME Feeder Cattle Index: 144.00… -1.07

December Hog Futures: 54.72… +0.47

Nearby Crude Oil Futures Contract: 51.00… -1.61

 

National Grain Market Summary:

Compared to Friday, cash bids for wheat was mixed while corn, soybeans and sorghum was lower.  The Upper Mississippi River has now closed for operation and maintenance resumes in preparation for spring's navigational season.  Traders positioned themselves today ahead of the WASDE report due to be published tomorrow at 11 AM Central.

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Kansas City Corn: 3.75… -0.01

Kansas City Soybeans: 8.76… -0.07

Kansas City Wheat: 5.20… +0.15

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March Corn Futures: 3.8400… -0.0150

January Soybean Futures: 9.0975… -0.0700

March Wheat Futures: 5.2525… -0.0600

 

Financial Markets: 

Dow Jones Industrial Average: 24,423.26… +34.31

S & P 500: 2,637.72… +4.64

NASDAQ: 7,020.52… +51.27

U.S. Dollar Index: 97.21… +0.58

Cotton (www.ams.usda.gov): 

March Cotton Futures: 79.88… -0.35

Milk (www.cmegroup.com): 

December Class III Milk Futures: 13.65… -0.11