Feb 12 2019

Texas Daily Ag Market News Summary Posted 5 years 289 days ago by Administrator Account

Daily Market Summary for February 12th  

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 trades for a market trend. Last week in the Southern Plains live cash trades moved at 125.00. For the prior week in Nebraska live cash trades moved mostly from 125.00-125.50 and dressed cash trades moved at 200.00. For previous week in the Western Cornbelt live cash trades moved mostly from 124.50-126.00 and dressed cash trades moved at 200.00.

 

Negotiated Sales:

Confirmed: 919    Week Ago: 236    Year Ago: 520

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 27,500

Weighted avg weight:       855.00

Weighted avg net price:    197.71

  

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 were at 14.00 discount against the Nebraska market. The last time basis levels were this weak was back in May 2017. From a seller's perspective weak basis levels is a signal to keep cattle on feed. Looking at the most recent Canadian live cattle export data, Canadian fed cattle and cow export volumes totaled just over 8,000 head. Volumes are 18% larger than the same week last year.

 

Livestock Slaughter under Federal Inspection:                                  

                                   Cattle       Calves    Hogs         Sheep

Tuesday (est            118,000    2,000     470,000     9,000

Week ago (est)        118,000    2,000     478,000     8,000

Year ago (act)          119,000    2,000     466,000     8,000

Week to date (est)   234,000    4,000     914,000    16,000

Last Week (est)        236,000    4,000     950,000    16,000

Last Year (act)          230,000   4,000     928,000    14,000

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

                              Monday         91,000                 25,000

 

Boxed Beef: 

Boxed beef cutout values firm on Choice and lower on Select on light to moderate demand and moderate offerings. Select and Choice rib, chuck, round, and loin cuts steady to weak. Beef trimmings mostly slightly to moderately lower on light demand and light to moderate offerings.

Cutout Values...                 Choice     Select

Current Cutout Values:     217.16     213.00

Change from prior day:       +0.28        -0.86

Choice/Select spread:            4.16

Total Load Count (Cuts, Trimmings, Grinds):  107

 

Cutter Cow Cutout: 164.69… +0.92

 

CME Feeder Cattle Index: 141.68… -0.05

 

Futures

Live Cattle:

February: 126.82… -1.00

April: 127.87… -0.43

June: 118.15… -0.22

Feeder Cattle:

March: 144.40… -0.27

April: 146.65… -0.02

May: 147.67… Unchanged

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April Hogs: 60.32… +1.25

March Crude Oil: 52.41

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March Corn: 3.7825… -0.0550

March Soybeans: 9.1750… +0.1250

March Wheat: 5.2000… +0.0175

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Grain Cash Bids:

Kansas City Corn: 3.70… +0.06

Kansas City Soybeans: 8.71… +0.12

Kansas City Wheat: 4.95… +0.02

 

Financial Markets:

Dow Jones Industrial Average: 25,425.76… +372.65

S & P 500: 2,744.73… +34.93

NASDAQ: 7,414.62… +106.71

U.S. Dollar Index: 96.71… -0.36

Cotton (www.ams.usda.gov): 

March Cotton Futures: 69.78… -0.77

Milk (www.cmegroup.com): 

February Class III Milk Futures: 14.00… +0.01