Dec 17 2019

Texas Daily Market News Summary Posted 4 years 124 days ago by Administrator Account

Daily Market Summary for December 17th

  

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Slaughter Cattle:

As of 3:00 PM Tuesday, 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:         38

Week Ago:     1,390

Year Ago:          386

     

Formula Net

Dressed Steers & Heifers:

Head count priced today: 29,600

Weighted avg weight:       876 lbs.

Weighted avg net price:   193.75

    

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 a 3.00 discount compared to the Nebraska market. Looking at the most recent beef export data. Total Canadian beef exports from January to October are up 12% in volume and up 20% in value compared to last year.

     

Cattle Slaughter under Federal Inspection:

Tuesday (est)                     123,000

Week ago (est)                  122,000

Year ago (act)                    118,000

Week to Date                    243,000

Same Period Last Week   243,000

Same Period Last year     228,000

Previous Day (est)

Steers & Heifers:  97,000

Cows & Bulls:        23,000

                                                                                                               

Boxed Beef:

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

Cutout Values:

Choice: 212.81… -4.27

Select:  203.47… -2.04

Choice/Select Spread: 9.34

Total Load Count:  152

     

Cutter Cow Cutout:

184.61… Unchanged

    

CME Feeder Cattle Index:

145.10… +0.49

    

Futures…

Live Cattle:

December: 122.22… -0.08

February: 126.30… -0.95

April: 127.32… -0.60

    

Feeder Cattle:

January: 145.15… -0.10

March: 145.72… +0.12

April: 147.65… +0.20

      

February Hogs: 69.85… -0.65

January Crude Oil: 60.94… +0.73

    

March Corn: 3.9000… +0.0200

January Soybeans: 9.2875… +0.0675

March Wheat: 5.5625… +0.0650

    

Grain Cash Bids:

Kansas City Corn: 3.94… +.02

Kansas City Soybeans: 9.09… +0.07

Kansas City Wheat: 5.42

    

Financial Markets:

Dow Jones: 28,266.14… +30.25

S & P 500: 3,192.42… +0.97

NASDAQ: 8,823.36… +9.13

U.S. Dollar Index: 97.23… +0.21