Dec 19 2018

Texas Daily Ag Market News Summary Posted 5 years 344 days ago by Administrator Account

Daily Market Summary for December 19th  

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, Wednesday negotiated cash trading has been at a standstill in the Southern Plains and Nebraska. In the Western Cornbelt negotiated cash trading has been inactive on very light demand. 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: 38    Week Ago: 762    Year Ago: 44,326

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 18,600

Weighted avg weight:        848.00

Weighted avg net price:    191.13

 

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 since Monday. By the sounds of things there could be a few more Canadian fed cattle shipped into the US over the next couple of months as US packers were contracting fed cattle. Canfax released its December 1st cattle on feed report last Friday. November placements were down over 10% compared to last year while fed cattle marketings were up slightly compared to last year. December 1st cattle on feed inventories are larger than last year and the five-year average.

 

Livestock Slaughter under Federal Inspection:                                  

                                 Cattle       Calves    Hogs          Sheep

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

Week ago (est)       120,000    2,000     477,000     9,000

Year ago (act)          115,000    3,000     469,000     9,000

Week to date (est) 347,000    6,000   1,433,000    25,000

Last Week (est)       361,000    6,000   1,435,000    26,000

Last Year (act)         352,000    7,000   1,411,000    29,000

 

Boxed Beef: 

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

Cutout Values...              Choice       Select

Current Cutout Values:    211.70     204.85

Change from prior day:      -0.98       +0.12

Choice/Select spread:        +6.85

 

CME Feeder Cattle Index: 145.61… +0.06

 

Futures

Live Cattle:

December: 119.72… -0.05

February: 122.25… -0.32

April: 124.57… -0.03

Feeder Cattle:

January: 146.20… Unchanged

March: 144.27… -0.03

April: 144.80… -0.15

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March Corn: 3.8175… -0.0375

January Soybeans: 9.0000… -0.0775

March Wheat: 5.2250… -0.1025

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February Hogs: 62.70… +0.05

January Crude Oil: 47.20… +0.96

 

Financial Markets: 

Dow Jones Industrial Average: 23,323.66… -351.98

S & P 500: 2,506.94… -39.22

NASDAQ: 6,636.83… -147.08

U.S. Dollar Index: 97.06… -0.07

Cotton (www.ams.usda.gov): 

March Cotton Futures: 76.71… -1.14

Milk (www.cmegroup.com): 

December Class III Milk Futures: 13.84… -0.01