Jan 15 2019

Texas Daily Ag Market News Summary Posted 5 years 317 days ago by Administrator Account

Daily Market Summary for January 15th  

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 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 cash trades for a market trend. Last week in the Southern Plains and Nebraska live cash trades moved at 124.00 and dressed cash trades, in Nebraska, moved at 197.00. For the prior week in the Western Cornbelt live cash trades moved from 122.00-124.00, on a light test, and dressed cash trades moved at 197.00.

 

Negotiated Sales:

Confirmed: 268    Week Ago: 96    Year Ago: 12

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 27,300

Weighted avg weight:       860.00

Weighted avg net price:    196.14

 

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 larger than the previous week. Last week on a cash to cash basis Alberta fed prices were at a 3.00 discount against the Nebraska market.  Even though fed prices have strengthened cattle are still being sold with negative feeding margins. Yearling bought off grass have breakeven in the mid to upper 160's. Feeding losses are estimated to be around 100/head.

 

Livestock Slaughter under Federal Inspection:                                  

                                  Cattle      Calves    Hogs          Sheep

Tuesday (est            120,000    2,000     480,000     8,000

Week ago (est)        119,000    2,000     474,000     8,000

Year ago (act)           117,000    2,000     455,000     9,000

Week to date (est)  239,000    4,000     943,000    15,000

Last Week (est)        237,000    4,000     954,000    16,000

Last Year (act)          233,000    3,000     838,000    16,000

 

Boxed Beef: 

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

Cutout Values...                 Choice     Select

Current Cutout Values:    212.21     205.87

Change from prior day:       +0.19      +0.41

Choice/Select spread:        +6.34

 

CME Feeder Cattle Index: 144.44… -0.21

 

Futures

Live Cattle:

February: 126.95… +1.53

April: 127.42… +0.75

June: 117.05… -0.12

Feeder Cattle:

January: 144.75… -0.10

March: 144.75… +0.35

April: 145.50… +0.35

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February Hogs: 62.15… +0.30

January Crude Oil: 52.11… +1.60

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March Corn: 3.7125… -0.0725

March Soybeans: 8.9325… -0.1025

March Wheat: 5.1100… -0.0325

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Grain Cash Bids:

Kansas City Corn: 3.64… -0.07

Kansas City Soybeans: 8.38… -0.10

Kansas City Wheat: 4.84… -0.03

 

Financial Markets: 

Dow Jones Industrial Average: 24,065.59… +155.75

S & P 500: 2,610.30… +27.69

NASDAQ: 7,023.83… +117.91

U.S. Dollar Index: 95.92… +0.33

Cotton (www.ams.usda.gov): 

March Cotton Futures: 72.36… -0.63

Milk (www.cmegroup.com): 

January Class III Milk Futures: 14.05… -0.02