Dec 02 2019

Texas Daily Ag Market News Summary Posted 4 years 361 days ago by Administrator Account

Daily Market Summary for December 2nd

The Daily Market News Report bought to you by The Cattle Range. Please visit their website for more information!

---

 

Slaughter Cattle:

As of 3:00 PM Monday, negotiated cash trade was mostly inactive on light demand in all feeding regions. Not enough purchases in any feeding region for an adequate market test. The latest established market in Kansas was last week, with live purchases from 118.00-119.00, bulk at 118.00. In Nebraska last week, live purchases traded from 118.00-120.00 with dressed purchases at 187.00. In the Western Cornbelt for the previous week on a light test, live purchases traded from 117.00-118.00 with dressed purchases at 187.00.

   

Negotiated Sales:

Confirmed:    789

Week Ago:     505

Year Ago:       394

 

Formula Net

Dressed Steers & Heifers:

Head count priced today: 35,400

Weighted avg weight:       887 lbs.

Weighted avg net price:   185.38

  

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales last week saw light trade develop with weighted average steer and heifer prices closing on either side of 150.00. Prices were 0.50-3.00 higher than last week. From their lows in September fed prices have rallied 10%. Over the past 10 years the average increase from second half lows to late in the years highs stands at 17%. Looking at the non-fed market butcher cows traded fully steady through commercial auction facilities last week. Butcher cow prices are trading 6.00-7.00 higher than last year.

 

Cattle Slaughter under Federal Inspection:

Monday (est)           117,000

Week ago (est)        118,000

Year ago (act)          118,000

Last year                   477,000

Previous Day (est)

Steers & Heifers: 90,000

Cows & Bulls:       25,000

                                                                                                        

Boxed Beef:

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

 

Cutout Values:

Choice: 232.61… +0.49

Select:  212.98… +2.64

Choice/Select Spread: 19.63

Total Load Count:  83

 

Cutter Cow Cutout:

185.97… -4.35

 

CME Feeder Cattle Index:

144.97… -0.14

 

Futures…

Live Cattle:

December: 120.75… -0.45

February: 125.80… -0.40

April: 126.20… -0.17

 

Feeder Cattle:

January: 142.15… -0.12

March: 143.02… Unchanged

April: 144.97… Unchanged

 

December Hogs: 60.35… -1.67

December Crude Oil: 55.96… +0.79

 

December Corn: 3.7350… +0.0225

January Soybeans: 8.7050… -0.0625

December Wheat: 5.4325… -0.0425

 

Grain Cash Bids:

Kansas City Corn: 3.81… +0.09

Kansas City Soybeans: 8.36… -0.11

Kansas City Wheat: 5.33… +0.14

 

Financial Markets:

Dow Jones: 27,786.44… -264.97

S & P 500: 3,114.21… -26.77

NASDAQ: 8,567.99… -97.48

U.S. Dollar Index: 97.83… -0.44