Jan 22 2019

Texas Daily Ag Market News Summary Posted 5 years 310 days ago by Administrator Account

Daily Market Summary for January 22nd  

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 trade was mostly inactive on light demand. A very limited amount of live purchases were reported at 122.00 in Kansas, and 123.00 in Nebraska. However, not enough for an adequate market test. The latest established market in any feeding region was last week, with live purchases in the Southern Plains and Nebraska at 124.00. Dressed purchases in Nebraska traded at 197.00. Last week in the Western Cornbelt, live purchases traded from 123.00-125.00 with dressed purchases at 197.00.

 

Negotiated Sales:

Confirmed: 2,080    Week Ago: 268    Year Ago: 673

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 20,600

Weighted avg weight:        861.00

Weighted avg net price:    198.45

 

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 smaller than the previous week. Last week on a cash to cash basis Alberta fed prices traded at a 4.00 discount against the Nebraska market. With the mild temperatures that we have experienced so far cattle performance has been excellent. Weaker basis levels, lower prices year over year and negative feeding margins is encouraging producers to keep cattle on feed longer this year versus last year.

 

Livestock Slaughter under Federal Inspection:                                  

                                 Cattle       Calves    Hogs           Sheep

Tuesday (est           118,000    2,000     475,000      9,000

Week ago (est)       120,000    2,000     480,000      8,000

Year ago (act)          110,000    2,000     453,000      8,000

Week to date (est) 235,000    4,000     876,000    17,000

Last Week (est)       239,000    4,000     943,000    15,000

Last Year (act)         198,000    4,000     841,000    15,000

Previous Day Estimated -- Steer and Heifer -- Cow and Bull

                 Monday                       95,000               22,000

 

Boxed Beef: 

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

Cutout Values...                 Choice     Select

Current Cutout Values:     216.34     211.72

Change from prior day:       +1.08       +0.86

Choice/Select spread:           4.62

Total Load Count (Cuts, Trimmings, Grinds):  94

 

CME Feeder Cattle Index: 141.71… -0.34

 

Futures

Live Cattle:

February: 125.12… -1.40

April: 126.07… -1.30

June: 116.42… -1.03

Feeder Cattle:

January: 141.05… -0.40

March: 141.50… -1.32

April: 142.95… -1.45

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February Hogs: 61.47… +0.25

January Crude Oil: 52.57… -1.23

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March Corn: 3.7900… -0.0275

March Soybeans: 9.0925… -0.0750

March Wheat: 5.2125… +0.0350

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Grain Cash Bids:

Kansas City Corn: 3.71… -0.03

Kansas City Soybeans: 8.56… -0.07

Kansas City Wheat: 4.96… +0.03

 

Financial Markets:

Dow Jones Industrial Average: 24,404.48… -301.87

S & P 500: 2,632.90… -37.81

NASDAQ: 7,020.36… -136.87

U.S. Dollar Index: 96.35… +0.03

Cotton (www.ams.usda.gov): 

March Cotton Futures: 73.13… -0.76

Milk (www.cmegroup.com): 

January Class III Milk Futures: 13.99… +/-0.00