Dec 10 2019

Texas Daily Market News Summary Posted 4 years 137 days ago by Administrator Account

Daily Market Summary for December 10th

  

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Slaughter Cattle:

As of 3:00 PM Tuesday in Kansas, negotiated cash trading has been limited on very light demand. In the Western Cornbelt negotiated cash trading has been inactive on very light demand. In 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:   1,390

Week Ago:       719

Year Ago:         639

     

Formula Net

Dressed Steers & Heifers:

Head count priced today: 20,900

Weighted avg weight:       882 lbs.

Weighted avg net price:   190.08

    

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales Monday saw no new trade to report. This week's showlist has been compiled with volumes smaller than the previous week. Last week on a cash to cash basis Alberta fed prices were at 2.00 discount against the Nebraska market. On a dressed basis, Alberta fed prices were at 20.00 premium to the Ontario market. Given this sharp of a premium there is a good chance Ontario fed cattle will continue to be shipped west to Alberta for slaughter. Western Canadian cow slaughter volumes continue to be larger which is taking hook space away from fed cattle.

     

Cattle Slaughter under Federal Inspection:

Tuesday (est)                     122,000

Week ago (est)                  120,000

Year ago (act)                    121,000

Week to Date                    243,000

Same Period Last Week   240,000

Same Period Last year     240,000

Previous Day (est)

Steers & Heifers:  96,000

Cows & Bulls:        25,000

                                                                                                            

Boxed Beef:

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

Cutout Values:

Choice: 221.49… -2.15

Select:  205.35… -1.14

Choice/Select Spread: 16.14

Total Load Count:  208

     

Cutter Cow Cutout:

174.65… -12.42

    

CME Feeder Cattle Index:

143.35... +0.02

    

Futures…

Live Cattle:

December: 119.87… -0.30

February: 124.57… -0.18

April: 125.05… -0.35

    

Feeder Cattle:

January: 141.65… +0.13

March: 142.52…+0.25

April: 144.47… +0.32

      

February Hogs: 67.97… +1.27

January Crude Oil: 59.24… +0.22

    

March Corn: 3.7700… +0.0125

January Soybeans: 9.0125…+0.0400

March Wheat: 5.2375… +0.0100

    

Grain Cash Bids:

Kansas City Corn: 3.81… +0.02

Kansas City Soybeans: 8.76…+0.04

Kansas City Wheat: 5.16…+0.01

    

Financial Markets:

Dow Jones: 27,881.72… -27.88

S & P 500: 3,132.52… -3.44

NASDAQ: 8,616.18… -5.65

U.S. Dollar Index: 97.44… -0.20