Nov 12 2018

Texas Daily Ag Market News Summary Posted 5 years 165 days ago by Administrator Account

Daily Market Summary for November 12th  

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:  

Monday negotiated cash trade was at a standstill in all feeding regions. The latest established market in any feeding region was last week with live purchases in the Southern Plains mostly at 114.00, with a few at 115.00. In Nebraska last week, live purchases traded from 113-114.50, bulk at 114.00 with dressed purchases mostly at 180.00. Last week in Colorado, live purchases traded at 114.00. For the previous week in the Western Cornbelt, live purchases traded mostly from 111.00-113.00 with dressed purchases from 177.00.180.00.

 

Negotiated Sales:

Confirmed: none    Week Ago: 1,729    Year Ago: 14

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 40,300

Weighted avg weight:       851.00

Weighted avg net price:    184.75

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales so far this week have seen moderate trade develop with most of the dressed sales marked at 248.00 delivered. Sales are fully steady with the previous week. Buyers were indicating cattle that they bought this week would be lifted in three weeks. Cash to futures basis levels did strengthen, this week's cash offering has been cleaned up.

 

Livestock Slaughter under Federal Inspection:                                  

                                  Cattle        Calves    Hogs         Sheep

Monday (est            111,000    2,000     441,000     8,000

Week ago (est)        119,000    2,000     476,000     8,000

Year ago (act)          118,000    2,000     465,000     8,000

 

Boxed Beef: 

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

 

Cutout Values...              Choice       Select

Current Cutout Values:    215.55     200.39

Change from prior day:       +0.35       +1.67

Choice/Select spread:       +15.16

 

Futures: 

Live Cattle…

December: 114.92… +0.35

February: 118.00… +0.20

April: 120.17… -0.08

Feeder Cattle…

November: 148.37… -0.63

January: 143.72… -0.08

March: 141.72… -0.45

  

CME Feeder Cattle Index: 150.59… -1.04

December Hog Futures: 56.55… +0.75

Nearby Crude Oil Futures Contract: 59.93… -0.26

 

National Grain Market Summary:

No report today due to Veterans Day

  

December Corn Futures: 3.7125… +0.0150

November Soybean Futures: 8.7175… 0.1775

December Wheat Futures: 5.1975… -0.1775

  

Friday’s Closes… No quotes today due to Veterans Day

Kansas City Corn: 3.65

Kansas City Soybeans: 8.49

Kansas City Wheat: 4.97

 

Financial Markets: 

Dow Jones Industrial Average: 25,387.18… -602.12

S & P 500: 2,726.22… -54.79

NASDAQ: 7,200.87… -206.03

U.S. Dollar Index: 97.55… +0.55

Cotton (www.ams.usda.gov): 

December Cotton Futures: 76.38… -1.71

Milk (www.cmegroup.com): 

November Class III Milk Futures: 14.51… +0.05