Jan 09 2019

Texas Daily Ag Market News Summary Posted 5 years 322 days ago by Administrator Account

Daily Market Summary for January 9th  

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 trade was mostly inactive on light demand in all feeding region. The latest established market in any feeding region was last week with live purchases in the Southern Plains and Nebraska mostly at 123.00 with dressed purchases in Nebraska at 195.00. Last week in the Western Cornbelt, live purchases traded from 121.00-122.00 with dressed purchases from 194.00-195.00.

 

Negotiated Sales:

Confirmed: 76    Week Ago: 119    Year Ago: 9,698

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 20,500

Weighted avg weight:        865.00

Weighted avg net price:    196.89

 

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 from the beginning of the week. There have been rumbling packers could start to scale back hours. Looking at Alberta/Saskatchewan cattle on feed placement data there are more yearling on feed compared to last year. That said supplies still remain very manageable.  

 

Livestock Slaughter under Federal Inspection:                                  

                                  Cattle      Calves    Hogs          Sheep

Wednesday (est       120,000    2,000      469,000      8,000

Week ago (est)        117,000    2,000       480,000      8,000

Year ago (act)          118,000    2,000       457,000      6,000

Week to date (est)   357,000    6,000   1,423,000    24,000

Last Week (est)        188,000    3,000      882,000    12,000

Last Year (act)          353,000    6,000   1,369,000    23,000

 

Boxed Beef: 

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

Cutout Values...               Choice    Select

Current Cutout Values:    213.84     206.47

Change from prior day:       -0.14       -0.79

Choice/Select spread:        +7.37

 

CME Feeder Cattle Index: 145.70… +0.07

 

Futures

Live Cattle:

February: 124.80… -0.50

April: 125.80… -0.35

June: 117.25… -0.22

Feeder Cattle:

January: 146.82… -0.80

March: 144.90… -0.55

April: 145.47… -0.63

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February Hogs: 63.77… +1.17

January Crude Oil: 52.36… +2.58

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March Corn: 3.8200… +0.0200

January Soybeans: 9.1150… +0.0525

March Wheat: 5.2000… +0.0225

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Grain Cash Bids:

Kansas City Corn: 3.75… -0.01

Kansas City Soybeans: 8.73… Unchanged

Kansas City Wheat: 5.25… -0.05

 

Financial Markets: 

Dow Jones Industrial Average: 23,879.12… +91.67

S & P 500: 2,584.96… +10.55

NASDAQ: 6,957.08… +60.08

U.S. Dollar Index: 95.12… -0.78

Cotton (www.ams.usda.gov): 

March Cotton Futures: 73.13… +1.46

Milk (www.cmegroup.com): 

January Class III Milk Futures: 14.05… -0.03