Jan 31 2019

Texas Daily Ag Market News Summary Posted 5 years 301 days ago by Administrator Account

Daily Market Summary for January 31st  

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:  

Thursday negotiated cash trading has been a standstill in the Southern Plains and Nebraska. In the Western Cornbelt negotiated cash trading has been inactive with very light demand. Not enough cash trades for a market trend. 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: 511    Week Ago: 989    Year Ago: 2,354

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 18,400

Weighted avg weight:        848.00

Weighted avg net price:    196.19

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Wednesday saw no new trade to report dressed bids have been reported in the low 260's. Bids are as much as 7.00 lower than last week. Packer interest in the cash market remains light. There have been a few reports packers are behind schedule lifting cattle. From a technical or fundamental standpoint the strengthening Canadian dollar did not help sellers yesterday.

 

Livestock Slaughter under Federal Inspection:                                  

                                  Cattle       Calves      Hogs         Sheep

Thursday (est         114,000    2,000      420,000       7,000

Week ago (est)       116,000    2,000      474,000       8,000

Year ago (act)         118,000    1,000      466,000       8,000

Week to date (est) 463,000    8,000   1,609,000    27,000

Last Week (est)       468,000    8,000   1,816,000    30,000

Last Year (act)         471,000    7,000   1,861,000    30,000

Previous Day Estimated -- Steers & Heifers -- Cows & Bulls

                        Wednesday       89,000                  23,000

 

 

Boxed Beef: 

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

Cutout Values...                 Choice     Select

Current Cutout Values:     215.39     212.88

Change from prior day:       (2.66)       (0.12)

Choice/Select spread:            2.51

Total Load Count (Cuts, Trimmings, Grinds): 139

 

CME Feeder Cattle Index: 142.57... (0.42)

 

Futures

Live Cattle:

February: 124.80… (1.35)

April: 126.30… (1.75)

June: 115.95… (1.75)

Feeder Cattle:

January: 142.10… (0.27)

March: 142.55… (1.75)

April: 144.27… (1.55)

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February Hogs: 56.25… (1.20)

March Crude Oil: 53.79… (0.44)

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March Corn: 3.7650… (0.0475)

March Soybeans: 9.1525… (0.0575)

March Wheat: 5.1650… (0.0025)

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Grain Cash Bids:

Kansas City Corn: 3.68… (0.05)

Kansas City Soybeans: 8.62… (0.06)

Kansas City Wheat: 4.92… Unchanged

 

Financial Markets:

Dow Jones Industrial Average: 25,002.32... (12.54)

S & P 500: 2,704.51... +23.46

NASDAQ: 7,281.74... +98.66

U.S. Dollar Index: 95.57... +0.17

Cotton (www.ams.usda.gov): 

March Cotton Futures: 74.40… +0.04

Milk (www.cmegroup.com): 

February Class III Milk Futures: 14.02… -0.01