Jan 10 2019

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

Daily Market Summary for January 10th  

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, 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: 1,353    Week Ago: 27,019    Year Ago: 2,776

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 17,700

Weighted avg weight:        861.00

Weighted avg net price:    195.38

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Wednesday saw light trade develop with dressed sales marked at 268.00 delivered. Sales are positioned at the top end of last week's trading range. Cows that were put on feed during the fall are being marketed now. January is traditionally a big cow slaughter month, taking hook space away from the A grade cattle. 

 

Livestock Slaughter under Federal Inspection:                                  

                                    Cattle      Calves    Hogs          Sheep

Thursday (est           120,000    2,000      477,000     8,000

Week ago (est)        121,000    2,000      476,000     9,000

Year ago (act)          119,000    2,000      440,000     7,000

Week to date (est)  477,000    8,000   1,900,000    32,000

Last Week (est)       309,000    5,000   1,358,000    21,000

Last Year (act)         472,000    8,000   1,809,000    30,000

 

Boxed Beef: 

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

Cutout Values...               Choice      Select

Current Cutout Values:    213.96     207.77

Change from prior day:      +0.12     +1.30

Choice/Select spread:        +6.19

 

CME Feeder Cattle Index: 145.55… -0.15

 

Futures

Live Cattle:

February: 124.87… +0.07

April: 125.92… +0.12

June: 117.37… +0.12

Feeder Cattle:

January: 146.75… -0.07

March: 145.07… +0.17

April: 145.67… +0.20

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February Hogs: 64.07… +0.30

January Crude Oil: 52.59… +0.23

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March Corn: 3.7625… -0.0575

January Soybeans: 8.9550… -0.1600

March Wheat: 5.1375… -0.0625

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Grain Cash Bids:

Kansas City Corn: 3.69… -0.06

Kansas City Soybeans: 8.56… -0.17

Kansas City Wheat: 5.18… -0.07

 

Financial Markets: 

Dow Jones Industrial Average: 24,001.92… +122.80

S & P 500: 2,596.64… +11.68

NASDAQ: 6,986.07… +28.99

U.S. Dollar Index: 95.56… +0.42

Cotton (www.ams.usda.gov): 

March Cotton Futures: 72.85… -0.28

Milk (www.cmegroup.com): 

January Class III Milk Futures: 14.08… +0.03