Dec 19 2019

Texas Daily Market News Summary Posted 4 years 344 days ago by Administrator Account

Daily Market Summary for December 19th

  

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Slaughter Cattle:

As of 3:00 PM Thursday in Kansas, negotiated cash trading and demand have been moderate. Compared to last week live cash trades moved 1.00 higher at 120.00. In Nebraska and the Western Cornbelt negotiated cash trading has been slow on moderate demand. In Nebraska a few early live and dressed trades have moved from 120.00-121.00 and at 192.00, respectively. In the Western Cornbelt a few early live and dressed trades have moved at 121.00 and 192.00, respectively. However, not enough purchases for an adequate market trend in these two feeding regions. 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:    41,242

Week Ago:     16,517

Year Ago:       20,387

     

Formula Net

Dressed Steers & Heifers:

Head count priced today: 32,700

Weighted avg weight:       896 lbs.

Weighted avg net price:   192.34

    

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales Wednesday saw light trade develop with live sales reported from 157.00-157.25 FOB the feedlot. Sales are 2.00-3.00 higher than last week's weighted average price.  Dressed bids have been reported at 267.00 delivered and are 6.00-7.00 higher than the previous week. With this recent jump in fed cattle prices feedlots are likely selling cattle at or slightly above break-even levels. This is positive news as cattle feeders have been looking at negative margins for the better part of this year.

     

Cattle Slaughter under Federal Inspection:

Thursday (est)                   121,000

Week ago (est)                  121,000

Year ago (act)                    117,000

Week to Date                    486,000

Same Period Last Week   486,000

Same Period Last year     462,000

Previous Day (est)

Steers & Heifers:  95,000

Cows & Bulls:        27,000

                                                                                                               

Boxed Beef:

Boxed beef cutout values weak on light to moderate demand and offerings. Select and Choice rib cuts weak to lower while chuck, round, and loin cuts steady to firm. Beef trimmings not fully established.

Cutout Values:

Choice: 208.99… 0.58

Select:  200.99… -0.58

Choice/Select Spread: 8.00

Total Load Count:  124

     

Cutter Cow Cutout:

185.02… -0.49

    

CME Feeder Cattle Index:

Wednesday @ 145.48... Thursday's Index not yet published

    

Futures…

Live Cattle:

December: 122.12… -0.12

February: 125.62… -0.50

April: 126.75… -0.50

    

Feeder Cattle:

January: 144.72… +0.17

March: 144.82… -0.08

April: 147.00… +0.08

      

February Hogs: 70.97… +1.07

January Crude Oil: 61.22… +0.29

    

March Corn: 3.8650… -0.0050

January Soybeans: 9.2450… 0.0400

March Wheat: 5.4525… -0.0300

    

Grain Cash Bids:

Kansas City Corn: 3.92… Unchanged

Kansas City Soybeans: 9.12… -0.04

Kansas City Wheat: 5.38… -0.03

    

Financial Markets:

Dow Jones: 28,376.96… +137.68

S & P 500: 3,205.38… +14.24

NASDAQ: 8,887.22… +59.49

U.S. Dollar Index: 97.39… +0.01