Dec 14 2018

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

Daily Market Summary for December 14th  

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, Friday trade has been moderate on light to moderate demand in the Southern Plains. Compared to last week in the Southern Plains, live purchases have traded mostly steady ranging from 118.00-119.00, bulk at 119.00. Trade was light on light to moderate demand in Nebraska and the Western Cornbelt. Compared to last week in Nebraska, early dressed purchases have traded 1.00 higher at 188.00. Not enough live purchases for an adequate market test. Last week in Nebraska, live purchases traded mostly at 119.00. 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. 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: 25,528    Week Ago: 13,417    Year Ago: 15,692

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 16,600

Weighted avg weight:       840.00

Weighted avg net price:    188.37

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Thursday saw light trade develop with dressed sales reported at 260.00 delivered. Sales are 3.00-7.00 higher than the previous week. Live sales have been reported in the mid 150's and are 2.00-3.00 higher than last week's weighted average price. Higher prices week over week and stronger basis levels did encourage producers to market cattle. Cattle that were bought this week were being scheduled for the week of December 31st delivery.

 

Livestock Slaughter under Federal Inspection:                                  

                                 Cattle       Calves    Hogs          Sheep

Friday (est               121,000      2,000        475,000          7,000

Week ago (est)       121,000      2,000        473,000          7,000

Year ago (act)         118,000      3,000        456,000           7,000

Week to date (est) 604,000    10,000     2,386,000        42,000

Last Week (est)       602,000    10,000     2,366,000        41,000

Last Year (act)         590,000   12,000      2,319,000        41,000

Saturday (est             50,000        0               226,000          1,000

Week ago (est)          65,000        0               192,000             0

Year ago (act)            38,000        0                257,000         1,000

Week to date (est)  654,000   10,000       2,612,000       43,000

Last Week (est)        667,000   10,000       2,558,000       41,000

Last Year* (act)        628,000    11,000      2,576,000       43,000

2018 YTD             31,341,000  540,000 118,655,000  1,906,000

2017 *YTD           30,591,000  482,000 115,927,000  1,856,000

Percent change         +2.5%     +12.0%        +2.4%           +2.7%

 

Boxed Beef: 

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

Cutout Values...              Choice       Select

Current Cutout Values:    210.96     203.14

Change from prior day:      -1.51       +2.14

Choice/Select spread:       +7.82

 

CME Feeder Cattle Index: 146.90… +0.50

 

Futures

Live Cattle:

December: 119.57… +0.12

February: 122.40… -0.45

April: 124.50… -0.30

Feeder Cattle:

January: 147.57… -0.40

March: 145.77… -0.15

April: 146.25… -0.25

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March Corn: 3.8475… +0.0050

January Soybeans: 9.0050… -0.0650

March Wheat: 5.3000… -0.0600

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February Hogs: 64.50… -0.32

January Crude Oil: 51.20… -1.38

Weekly National Grain Market Review

Compared to last week, cash bids for wheat and corn were mixed, while sorghum was higher, and soybeans were lower.  USDA said last week's export sales and shipments of corn totaled 35.6 million and 37.5 million bushels, respectively, a neutral showing that has total shipments up 79% from a year ago and total export commitments up 16%. Last week's export sales and shipments of soybeans totaled 29.1 million and 42.1 million bushels, respectively, still a bearish pace despite China's purchase earlier this week.  Last week's export sales and shipments of wheat totaled 27.7 million and 18.0 million bushels, respectively.  After USDA reduced the export estimate for wheat by 25 million to 1.0 billion bushels on Tuesday, total wheat shipments are now down 14% from a year ago and total export commitments are down 10%, slowly closing the gap with USDA's higher estimated pace.  Wheat was from 5 cents lower to 26 cents higher.  Corn was from 6 1/2 cents lower to 4 1/2 cents higher.  Sorghum was 2 to 3 cents higher.  Soybeans were 2 1/2 to 10 1/2 cents lower.

 

Financial Markets: 

Dow Jones Industrial Average: 24,100.51… -496.87

S & P 500: 2,599.95… -50.59

NASDAQ: 6,910.67… -159.66

U.S. Dollar Index: 97.47… +0.38

Cotton (www.ams.usda.gov): 

March Cotton Futures: 79.60… +0.19

Milk (www.cmegroup.com): 

December Class III Milk Futures: 13.80… +0.03