Jan 03 2019

Texas Daily Ag Market News Summary Posted 5 years 329 days ago by Administrator Account

Daily Market Summary for January 3rd  

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, Thursday in the Texas Panhandle trading has been slow with moderate demand. In Kansas trading and demand have been moderate. Compared to last week in the Southern Plains live cash trades moved steady at 123.00. So far for Thursday in Nebraska and the Western Cornbelt trading has been limited on light demand. In Nebraska a very few live cash trades moved at 123.00. However, not enough trades in either region for a market trend. Last week in Nebraska live cash trades moved at 123.00 and dressed cash trades moved at 195.00. For the prior week in the Western Cornbelt live cash trades moved from 119.00-121.00 and dressed cash trades moved from 190.00-195.00.

 

Negotiated Sales:

Confirmed: 27,019    Week Ago: 2,419    Year Ago: 835

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 17,300

Weighted avg weight:       875.00

Weighted avg net price:    193.21

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Wednesday saw no new trade to report. Dressed bids have been reported at 268.00 delivered. Bids are 6.00 higher than the previous week. No live bids have been reported however using a 60% dressing percentage, dressed bids are working back to the low 160's on a live basis.

 

Livestock Slaughter under Federal Inspection:                                  

                             Cattle      Calves    Hogs          Sheep

Thursday (est          121,000    2,000     476,000      9,000

Week ago (est)        102,000    2,000     439,000      9,000

Year ago (act)          113,000    2,000     416,000      8,000

Week to date (est) 309,000    5,000   1,358,000    21,000

Last Week (est)       237,000    4,000      986,000    17,000

Last Year (act)         342,000    6,000   1,318,000    24,000

 

Boxed Beef: 

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

Cutout Values... Choice       Select

Current Cutout Values:    216.49     209.38

Change from prior day:       -0.15       -1.53

Choice/Select spread:        +7.11

 

CME Feeder Cattle Index: 146.06… +1.57

 

Futures

Live Cattle:

February: 123.22… -0.30

April: 125.40… -0.37

June: 116.77… -0.38

Feeder Cattle:

January: 146.52… -1.43

March: 144.45… -1.50

April: 145.22… -1.38

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February Hogs: 62.15… +0.45

January Crude Oil: 47.09… +0.55

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March Corn: 3.7975… +0.0400

January Soybeans: 9.0025… +0.0550

March Wheat: 5.1375… +0.0700

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Grain Cash Bids:

Kansas City Corn: 3.76… +0.04

Kansas City Soybeans: 8.68… +0.06

Kansas City Wheat: 4.89… +0.07

 

Financial Markets: 

Dow Jones Industrial Average: 23,346.24

S & P 500: 2,510.03

NASDAQ: 6,665.94

U.S. Dollar Index: 96.79

Cotton (www.ams.usda.gov): 

March Cotton Futures: 70.83… -0.01

Milk (www.cmegroup.com): 

January Class III Milk Futures: 14.32… +0.02