Dec 12 2018

Texas Daily Ag Market News Summary Posted 5 years 351 days ago by Administrator Account

Daily Market Summary for December 12th  

he 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, Wednesday saw trading in the Texas Panhandle and Nebraska at a standstill. In Kansas and the Western Cornbelt trading has been inactive on very light demand. Not enough trades 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: 762    Week Ago: 1,234    Year Ago: 354

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 19,000

Weighted avg weight:       850.00

Weighted avg net price:    189.21

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Tuesday saw no new trade to report but there is a chance scattered trade could develop by this afternoon. Technical price levels have improved from the beginning of the week. Even though packers are buying for a short slaughter week buying interest on the cash market is expected to be strong. Fed prices traditionally rally from the first half of December to the second half of December.

 

Livestock Slaughter under Federal Inspection:                                  

                                 Cattle       Calves    Hogs          Sheep

Wednesday (est     120,000    2,000      477,000      9,000

Week ago (est)        120,000    2,000      477,000      8,000

Year ago (act)          120,000    3,000      468,000      7,000

Week to date (est) 361,000    6,000   1,435,000    26,000

Last Week (est)       360,000    6,000   1,422,000    25,000

Last Year (act)          354,000    7,000   1,398,000    25,000

 

Boxed Beef: 

Boxed beef cutout values steady on Select and sharply lower on Choice on light to moderate demand and moderate to heavy offerings. Select and Choice chuck and rounds cuts steady to weak while rib cuts lower. Choice loin cuts weak while Select higher. Beef trimmings mostly slightly to moderately lower on light demand and light to moderate offerings.

Cutout Values...              Choice       Select

Current Cutout Values:    212.25     201.57

Change from prior day:      -2.21       +0.18

Choice/Select spread:      +10.68

 

Live Cattle Futures:

December: 119.12… +0.75

February: 122.90… +0.75

April: 124.90… +0.38

Feeder Cattle Futures:

January: 147.57… +0.27

March: 145.27… +0.37

April: 145.60… +0.33

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CME Feeder Cattle Index: 144.96… Wednesday’s Index unavailable

February Hog Futures: 65.70… +0.50

Nearby Crude Oil Futures Contract: 51.15… -0.50

 

National Grain Market Summary:

Wednesday’s report unavailable

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Kansas City Corn: 3.76… NA

Kansas City Soybeans: 8.82… NA

Kansas City Wheat: 5.15… NA

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March Corn Futures: 3.8525… +0.0050

January Soybean Futures: 9.2000… +0.0500

March Wheat Futures: 5.2650… +0.0550

 

Financial Markets: 

Dow Jones Industrial Average: 24,527.27… +157.03

S & P 500: 2,651.07… +14.28

NASDAQ: 7,068.31… +36.48

U.S. Dollar Index: 97.10… -0.36

Cotton (www.ams.usda.gov): 

March Cotton Futures: 79.97… -0.05

Milk (www.cmegroup.com): 

December Class III Milk Futures: 13.71… +/-0.00