Jan 28 2019

Texas Daily Ag Market News Summary Posted 5 years 304 days ago by Administrator Account

Daily Market Summary for January 28th  

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 Monday, negotiated cash trading has been at standstill in the Southern Plains, Nebraska and Western Cornbelt. Last week in Kansas and Nebraska live cash trades moved at 123.00. Dressed cash trades in Nebraska moved 197.00. For the prior week in the Western Cornbelt live cash trades moved from 123.00-126.00 and dressed cash trades moved mostly at 197.00. Two weeks ago live cash trades moved at 124.00 in the Texas Panhandle.

 

Negotiated Sales:

Confirmed: none    Week Ago: 38    Year Ago: 846

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 50,600

Weighted avg weight:        834.00

Weighted avg net price:    197.45

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales last week saw moderate trade with prices slightly lower than the previous week. The Canfax weighted average fed steer prices has hovered around $160/cwt through the month of January. Cash to futures basis levels continued steady last week at -4.40. Meanwhile, Western Canadian carcass weights continue to grow. Mild weather has resulted in above average gain and performance. Week over week steer carcass weights increased 13 lbs and were 45 lbs above year ago.

 

Livestock Slaughter under Federal Inspection:                                  

                                  Cattle       Calves      Hogs         Sheep

Monday (est         118,000        2,000     470,000     8,000

Week ago (est)     117,000        2,000     401,000     8,000

Year ago (act)      118,000        2,000      463,000    8,000

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

                                  Friday         92,000               24,000

                               Saturday       20,000                 6,000

 

Boxed Beef: 

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

Cutout Values...                 Choice     Select

Current Cutout Values:     217.40     211.61

Change from prior day:        +0.35      (0.53)

Choice/Select spread:            5.79

Total Load Count (Cuts, Trimmings, Grinds):  121

 

CME Feeder Cattle Index: 143.66… +0.45

 

Futures

Live Cattle:

February: 126.40… +0.35

April: 127.37… +0.52

June: 117.00… +0.30

Feeder Cattle:

January: 143.47… +0.10

March: 144.35… +0.73

April: 145.60… +0.88

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February Hogs: 57.97… (0.40)

March Crude Oil: 51.99… (1.70)

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March Corn: 3.7975… (0.0050)

March Soybeans: 9.2325… (0.0200)

March Wheat: 5.1875… (0.0125)

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Grain Cash Bids:

Kansas City Corn: 3.72… Unchanged

Kansas City Soybeans: 8.70… (0.02)

Kansas City Wheat: 4.94… (0.01)

 

Financial Markets:

Dow Jones Industrial Average: 24,528.22… (208.98)

S & P 500: 2,643.85… (20.91)

NASDAQ: 7,085.69… (79.17)

U.S. Dollar Index: 95.75… (0.03)

Cotton (www.ams.usda.gov): 

March Cotton Futures: 73.85… -0.28

Milk (www.cmegroup.com): 

January Class III Milk Futures: 13.98… +/-0.00