Dec 18 2019

Texas Daily Ag Market News Summary Posted 4 years 345 days ago by Administrator Account

Daily Market Summary for December 18th

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Slaughter Cattle:

As of 3:00 PM Wednesday, negotiated cash trade was mostly inactive on light demand in all feeding regions. Not enough purchases for an adequate market test in any feeding region. The latest established market in any feeding region was last week with live purchases in Kansas at 119.00. Last week in Nebraska live purchases traded from 119.00-120.50 with dressed purchases at 190.00. Last week in the Western Cornbelt, live purchases traded from 119.00-120.00 with dressed purchases from 188.00-190.00.

   

Negotiated Sales:

Confirmed:    1,479

Week Ago:        312

Year Ago:            38

    

Formula Net

Dressed Steers & Heifers:

Head count priced today: 26,000

Weighted avg weight:       870 lbs.

Weighted avg net price:   192.33

   

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. Technical price levels are unchanged from Monday. Fed cattle supplies are tightening and there have been rumblings packers have been making early inquiries looking for cattle. Canfax released its December 1st cattle on feed report last Friday. November placements were up over 20% compared to last year while fed cattle marketings were up 9%. Feedlot placements have been rather large over the past two months. December 1st cattle on feed inventories are larger than last year.

    

Cattle Slaughter under Federal Inspection:

Wednesday (est)               122,000

Week ago (est)                  122,000

Year ago (act)                    117,000

Week to Date                    365,000

Same Period Last Week   365,000

Same Period Last year     345,000

Previous Day (est)

Steers & Heifers:  97,000

Cows & Bulls:        26,000

                                                                                                               

Boxed Beef:

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

 

Cutout Values:

Choice: 209.57… -3.24

Select:  201.57… -1.90

Choice/Select Spread: 8.00

Total Load Count:  155

    

Cutter Cow Cutout:

184.51… -0.10

   

CME Feeder Cattle Index:

145.48… +0.38

   

Futures…

Live Cattle:

December: 122.25… +0.03

February: 126.12… -0.18

April: 127.25… -0.07

   

Feeder Cattle:

January: 145.55… -0.60

March: 144.90… -0.82

April: 146.92… -0.73

     

February Hogs: 69.90… +.05

January Crude Oil: 60.93… -0.01

   

March Corn: 3.8700… -0.0300

January Soybeans: 9.2850… -0.0025

March Wheat: 5.4825… -0.0800

   

Grain Cash Bids:

Kansas City Corn: 3.92… -0.02

Kansas City Soybeans: 9.16… +0.07

Kansas City Wheat: 5.41… -0.08

   

Financial Markets:

Dow Jones: 28,240.40… -26.76

S & P 500: 3,191.17… -1.38

NASDAQ: 8,827.73… +4.37

U.S. Dollar Index: 97.38… +0.16