Dec 13 2018

Texas Daily Ag Market News Summary Posted 5 years 349 days ago by Administrator Account

Daily Market Summary for December 13th  

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 mostly inactive on light demand in all feeding regions. Thus far for the week, in the Western Cornbelt, a few live and dressed purchases have traded at 117.00 and 187.00, respectively. However, not enough for a full market trend. Last week in the Southern Plains and Nebraska live purchases traded mostly at 119.00 with dressed purchases in Nebraska at 187.00. For the prior week in the Western Cornbelt live purchases traded mostly at 116.00 with dressed purchases ranging from 185.00-187.00.

 

Negotiated Sales:

Confirmed: 240    Week Ago: 1,149    Year Ago: 764

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 19,800

Weighted avg weight:       874.00

Weighted avg net price:    189.74

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Wednesday saw no new trade to report and not even a bid to speak of. Lots of yearling that were bought during August and September have breakevens on either side of 165.00. It is safe to say with fed prices hovering in the low 150's, few if any yearlings will be sold ahead of schedule. Packers will need to buy some cattle before the week is through Fed prices are expected to be steady to higher this week.

 

Livestock Slaughter under Federal Inspection:                                  

                                 Cattle       Calves    Hogs          Sheep

Thursday (est          122,000    2,000      476,000      9,000

Week ago (est)        121,000    2,000      471,000      9,000

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

Week to date (est) 483,000    8,000   1,911,000    35,000

Last Week (est)       481,000    8,000   1,893,000    34,000

Last Year (act)         472,000    9,000   1,863,000    34,000

 

Boxed Beef: 

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

Cutout Values...              Choice       Select

Current Cutout Values:    212.47     201.00

Change from prior day:      +0.22       -0.57

Choice/Select spread:      +11.47

 

CME Feeder Cattle Index: 146.40… +1.43

 

Futures

Live Cattle:

December: 119.45… +0.33

February: 122.85… -0.05

April: 124.80… -0.10

Feeder Cattle:

January: 147.97… +0.40

March: 145.92… +0.65

April: 146.50… +0.90

---

March Corn: 3.8425… -0.0100

January Soybeans: 9.0700… -0.1300

March Wheat: 5.3600… +0.0950

---

February Hogs: 64.82… -0.88

January Crude Oil: 52.58… +1.43

 

Financial Markets: 

Dow Jones Industrial Average: 24,597.38… +70.11

S & P 500: 2,650.54… -0.53

NASDAQ: 7,070.33… -27.98

U.S. Dollar Index: 97.07… +0.07

Cotton (www.ams.usda.gov): 

March Cotton Futures: 79.41… -0.56

Milk (www.cmegroup.com): 

December Class III Milk Futures: 13.76… +0.06