Dec 18 2018

Texas Daily Ag Market News Summary Posted 5 years 345 days ago by Administrator Account

Daily Market Summary for December 18th  

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, Tuesday trading has been inactive on very light demand in all major feeding regions. Not enough trades for a market trend. Last week in the Southern Plains live cash trades moved at mostly 119.00. For the prior week in Nebraska live and dressed cash trades moved mostly at 118.00 and 188.00, respectively. For the previous week in the Western Cornbelt live and dressed cash trades moved mostly at 117.00 and 187.00, respectively.

 

Negotiated Sales:

Confirmed: 226    Week Ago: 639    Year Ago: 468

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 17,200

Weighted avg weight:        864.00

Weighted avg net price:    189.33

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Monday saw no new trade to report. This week's showlist has been compiled with volumes steady with the previous week. Last week on a cash to cash basis Alberta fed prices were at a 3.00 discount against the Nebraska market. Looking at the most recent weekly live cattle export data. Canadian cow and fed cattle exports to the US totaled just over 9,100 head. Volumes are 22% smaller compared to the same week last year.

 

Livestock Slaughter under Federal Inspection:                                  

                                 Cattle       Calves    Hogs          Sheep

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

Week ago (est)       122,000    2,000     479,000     9,000

Year ago (act)         119,000    2,000     473,000    10,000

Week to date (est) 228,000    4,000     954,000    17,000

Last Week (est)       241,000    4,000     958,000    17,000

Last Year (act)         237,000    4,000     942,000    20,000

 

Boxed Beef: 

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

Cutout Values...              Choice       Select

Current Cutout Values:    212.68     204.73

Change from prior day:      +0.01       +0.97

Choice/Select spread:        +7.95

 

CME Feeder Cattle Index: 145.55… -0.65

 

Futures

Live Cattle:

December: 119.77… +0.75

February: 122.57… +1.02

April: 124.60… +0.75

Feeder Cattle:

January: 146.20… +0.83

March: 144.30… +0.98

April: 144.95… +0.85

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March Corn: 3.8550… +0.0150

January Soybeans: 9.0775… +0.0300

March Wheat: 5.3275… -0.0250

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February Hogs: 62.65… -1.17

January Crude Oil: 46.24… -3.64

 

Financial Markets: 

Dow Jones Industrial Average: 23,675.64… +82.66

S & P 500: 2,546.16… +0.22

NASDAQ: 6,783.91… +30.18

U.S. Dollar Index: 97.07… -0.06

Cotton (www.ams.usda.gov): 

March Cotton Futures: 77.85… -0.69

Milk (www.cmegroup.com): 

December Class III Milk Futures: 13.85… +0.05