Dec 11 2019

Texas Daily Ag Market News Summary Posted 4 years 352 days ago by Administrator Account

Daily Market Summary for December 11th

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Slaughter Cattle:

As of 3:00 PM Wednesday negotiated cash trading has been inactive on very light demand in the Western Cornbelt. In Kansas and Nebraska negotiated cash trading has been at a standstill. Not enough trades in any of these feeding regions for an adequate market test. The latest established market in any feeding region was last week with live trades in Kansas at 119.00. Last week in Nebraska, live trades moved from 118.00-119.00 with dressed trades at 188.00. Last week in the Western Cornbelt, live trades moved from 118.00-120.00 with dressed trades from 188.00-190.00, with the bulk at 188.00.

   

Negotiated Sales:

Confirmed:      312

Week Ago:    2,725

Year Ago:         762

    

Formula Net

Dressed Steers & Heifers:

Head count priced today: 22,700

Weighted avg weight:       882 lbs.

Weighted avg net price:   191.10

   

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales Tuesday saw no new trade to report but there is a chance scattered trade could develop by this afternoon. US packer interest has been noted and bids from the US are steady with the previous week. Depending on freight and dressing percentage US bids are working back in that 153.00-154.00 area on a live basis FOB the feedlot.

    

Cattle Slaughter under Federal Inspection:

Wednesday (est)              122,000

Week ago (est)                  117,000

Year ago (act)                    121,000

Week to Date                    365,000

Same Period Last Week   357,000

Same Period Last year     361,000

Previous Day (est)

Steers & Heifers:  96,000

Cows & Bulls:        26,000

                                                                                                           

Boxed Beef:

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

 

Cutout Values:

Choice: 218.65… -2.84

Select:  203.72… -1.63

Choice/Select Spread: 14.93

Total Load Count:  165

    

Cutter Cow Cutout:

186.46… +11.81

   

CME Feeder Cattle Index:

143.00… -0.41

   

Futures…

Live Cattle:

December: 120.57… +0.70

February: 125.32… +0.75

April: 125.87… +0.82

   

Feeder Cattle:

January: 142.77… +1.12

March: 143.67… +1.15

April: 145.47… +1.00

     

February Hogs: 67.72… -0.25

January Crude Oil: 58.76… -0.48

   

March Corn: 3.7125… -0.0575

January Soybeans: 8.9350… -0.0775

March Wheat: 5.1925… -0.0450

   

Grain Cash Bids:

Kansas City Corn: 3.75…-0.06

Kansas City Soybeans: 8.69… -0.07

Kansas City Wheat: 5.12… -0.04

   

Financial Markets:

Dow Jones: 27,911.02… +29.30

S & P 500: 3,141.62… +9.10

NASDAQ: 8,654.05… +37.87

U.S. Dollar Index: 97.12… -0.29