Dec 12 2019

Texas Daily Market News Summary Posted 4 years 130 days ago by Administrator Account

Daily Market Summary for December 12th

  

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Slaughter Cattle:

As of 3:00 PM Thursday, negotiated cash trading has been light with light to moderate demand in Kansas. Compared to last week live cash trades moved steady at 119.00. So far for Thursday in Nebraska and the Western Cornbelt negotiated cash trading has been limited on light demand. Not enough trades in these two feeding regions for an adequate market test. 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:   16,517

Week Ago:      8,431

Year Ago:          240

     

Formula Net

Dressed Steers & Heifers:

Head count priced today: 22,400

Weighted avg weight:       879 lbs.

Weighted avg net price:   191.03

    

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales Wednesday saw light trade develop with live sales reported at 153.75 FOB the feedlot. Sales are fully steady with last week's weighted average price. Dressed bids have been reported up to 260.00 delivered. Bids are positioned at the top end of last week's trading range. Feedlot inventories are positioned at the top end of last week's trading range. Feedlot inventories are becoming more current but in certain spots there are still some big cattle standing in feedlot pens. Over the past couple of weeks producers have been looking for flat bids with no weight breaks.   

     

Cattle Slaughter under Federal Inspection:

Thursday (est)                   121,000

Week ago (est)                  120,000

Year ago (act)                    121,000

Week to Date                    486,000

Same Period Last Week   477,000

Same Period Last year     482,000

Previous Day (est)

Steers & Heifers:  95,000

Cows & Bulls:        27,000

                                                                                                            

Boxed Beef:

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

Cutout Values:

Choice: 215.65… -3.00

Select:  202.56… -1.16

Choice/Select Spread: 13.09

Total Load Count:  207

     

Cutter Cow Cutout:

183.92… -2.54

    

CME Feeder Cattle Index:

143.00

    

Futures…

Live Cattle:

December: 120.42… -0.15

February: 125.10… -0.22

April: 126.20… +0.33

    

Feeder Cattle:

January: 142.55… -0.22

March: 143.45… -0.22

April: 145.57… +0.10

      

February Hogs: 68.65… +0.93

January Crude Oil: 58.76

    

March Corn: 3.7775…+0.0650

January Soybeans: 8.9825… +0.0475

March Wheat: 5.3025… +0.1100

    

Grain Cash Bids:

Kansas City Corn: 3.81… +0.06

Kansas City Soybeans: 8.73… +0.04

Kansas City Wheat: 5.23… +0.11

    

Financial Markets:

Dow Jones: 28,131.92... +220.62

S & P 500: 3,168.56... +26.93

NASDAQ: 8,717.32... +63.27

U.S. Dollar Index: 97.27... +0.15