Dec 21 2018

Texas Daily Ag Market News Summary Posted 5 years 126 days ago by Administrator Account

Daily Market Summary for December 21st  

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, Friday trade was light to moderate on moderate demand in Kansas and Nebraska. Compared to last week in Kansas, live purchases traded steady at 119.00. In Nebraska compared to Thursday live and dressed purchases traded steady at 119.00 and 190.00 respectfully. Trade was limited on moderate demand in all other feeding regions. The latest established market in the Texas Panhandle was last week, with live purchases at 119.00. On Thursday in the Western Cornbelt live purchases traded from 118.00-120.00 with dressed purchases at 190.00.

 

Negotiated Sales:

Confirmed: 18,491    Week Ago: 25,528    Year Ago: 1,500

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 17,400

Weighted avg weight:       860.00

Weighted avg net price:    188.85

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Thursday saw light trade develop with dressed sales reported at 261.00 delivered. Sales are steady to 1.00 higher than the previous week. Live sales were reported at 155.00 FOB lot, prices are 0.50 higher than last week's weighted average price. Buying interest in the cash market remains mixed with one packer more active compared to the other two plants. Cattle that were this week were being scheduled for the week of January 7th delivery.

 

Livestock Slaughter under Federal Inspection:                                  

                                 Cattle        Calves        Hogs          Sheep

Friday (est               122,000    2,000           473,000        7,000

Week ago (est)       121,000    2,000            475,000        7,000

Year ago (act)         117,000    3,000            459,000        7,000

Week to date (est)  585,000   10,000        2,382,000      40,000

Last Week (est)      604,000    10,000        2,386,000      42,000

Last Year (act)        587,000    12,000        2,338,000       44,000

Saturday   (est           74,000        0                355,000         1,000

Week ago (est)          50,000        0                226,000         1,000

Year ago (act)            23,000        0                138,000         0

Week to date (est)  659,000   10,000        2,737,000        41,000

Last Week (est)        654,000   10,000        2,612,000        43,000

Last Year* (act)       611,000    11,000        2,477,000       44,000

2018 YTD             32,002,000  553,000   121,401,000  1,949,000

2017 *YTD           31,202,000  493,000   118,404,000  1,900,000

Percent change      + 2.6%     +12.1%          +2.5%       +2.6%

 

Boxed Beef: 

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

Cutout Values...              Choice       Select

Current Cutout Values:    214.05     207.50

Change from prior day:      +1.58       +2.24

Choice/Select spread:        +6.55

 

CME Feeder Cattle Index: 145.89... +0.15

 

Futures

Live Cattle:

December: 120.87… +0.65

February: 122.70… +0.35

April: 124.82… +0.25

Feeder Cattle:

January: 147.35… -0.07

March: 145.52… +0.07

April: 145.97… +0.07

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February Hogs: 61.12… -1.25

January Crude Oil: 45.59… -0.29

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March Corn: 3.7850… +0.0325

January Soybeans: 8.8475… -0.0875

March Wheat: 5.1400… -0.0950

   

Grain Cash Bids:

Compared to last week, cash bids for wheat, corn and sorghum were lower, soybeans were higher.  Ethanol production for last week totaled 1.046 million barrels per day, steady when compared to the week prior. USDA said last week's export sales and shipments of corn totaled 77.7 million and 38.4 million bushels, respectively, a neutral showing that has total shipments up 76% from a year ago.  Last week's export sales and shipments of soybeans totaled 104.2 million and 49.2 million bushels, respectively, a new marketing year high.  Last week's export sales and shipments of wheat totaled 11.5 million and 49.2 million bushels, respectively.  Wheat was from 5 cents lower to 45 1/4 cents lower.  Corn was from 3 1/2 to 10 cents lower.  Sorghum was 15 to 16 cents lower.  Soybeans were 18 1/2 cents lower to 8 1/2 cents higher.

Kansas City Corn: 3.69… +0.03

Kansas City Soybeans: 8.50… -0.08

Kansas City Wheat: 4.86… -0.10

 

Financial Markets: 

Dow Jones Industrial Average: 22,444.59… -415.01

S & P 500: 2,416.67… -50.74

NASDAQ: 6,332.99… -195.42

U.S. Dollar Index: 97.02… +0.63

Cotton (www.ams.usda.gov): 

March Cotton Futures: 73.18… -1.88

Milk (www.cmegroup.com): 

December Class III Milk Futures: 13.84… +/-0.00