Nov 05 2018

Texas Daily Ag Market News Summary Posted 6 years 22 days ago by Administrator Account

Daily Market Summary for November 5th  

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 trading in the Southern Plains and Colorado has been at a standstill. In Nebraska and the Western Cornbelt trading has been inactive on very light demand. Not enough trades for a market trend. Last week live cash trades were at 116.00 in the Southern Plains. In Nebraska for the prior week live cash trades were from 114.00-116.00 and a few dressed cash trades moved at 180.00. For the previous week in Colorado live cash trades were from 115.00-116.00. Last week in the Western Cornbelt live cash trades were mostly at 114.00 and a few dressed cash trades moved at 180.00.

 

Negotiated Sales:

Confirmed: 1,708    Week Ago: 23    Year Ago: 980

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 42,600

Weighted avg weight:       848.00

Weighted avg net price:    182.92

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales last week saw light trade develop with weighted average steer and heifer prices closing the week at 147.75 and 146.75 respectively. Prices are 1.00 lower than the previous week. US packer interest was noted but all cattle ended up trading locally. Looking at the non-fed market butcher cows traded mixed through commercial auction facilities last week. Speculative or feeder cow buying interest was being noted on the non-fed market. Both non-fed and fed cattle prices are trading below last year.

 

Livestock Slaughter under Federal Inspection:                                  

                                  Cattle        Calves    Hogs          Sheep

Monday (est            119,000    2,000     476,000     8,000

Week ago (est)       117,000    2,000     466,000     6,000

Year ago (act)          117,000    2,000     463,000     8,000

 

Boxed Beef: 

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

Cutout Values...              Choice       Select

Current Cutout Values:    218.59     202.35

Change from prior day:      +0.09       +0.88

Choice/Select spread:      +16.24

 

Futures: 

December Live Cattle Futures: 115.32… -1.75

February Live Cattle Futures: 120.65… -1.55

April Live Cattle Futures: 122.30… -1.42

November Feeder Cattle Futures: 149.50… -3.00

January Feeder Cattle Futures: 146.42… -3.33

March Feeder Cattle Futures: 145.42… -2.83

CME Feeder Cattle Index: 153.55… -0.34

December Hog Futures: 57.10… -1.02

Nearby Crude Oil Futures Contract: 63.10… -0.04

 

National Grain Market Summary:

Compared to Friday, cash bids for corn, soybeans, and sorghum were mostly higher, while wheat was mixed.  USDA said 49.4 million bushels of corn were inspected for export last week, putting total inspections up 78% in 2018-19 from a year ago and far above USDA's estimated pace for the season.  45.2 million bushels of soybeans were inspected for export last week, putting the 2018-19 total down 42% from a year ago.  12.0 million bushels of wheat were inspected for export last week, putting total inspections down 22% in 2018-19 from a year ago.  Wheat was from 1 cent lower to 13 cents higher.  Corn was 2 3/4 to 6 cents higher.  Soybeans were steady to 3 cents higher.  Sorghum was 4 3/4 cents higher.

   

December Corn Futures: 3.7400… +0.0275

November Soybean Futures: 8.7300… -0.0225

December Wheat Futures: 5.0725… -0.0150

Kansas City Corn: 3.64... +0.03

Kansas City Soybeans: 8.33... +0.01

Kansas City Wheat: 5.15... +0.01

 

Financial Markets: 

Dow Jones Industrial Average: 25,461.70... +190.87

S & P 500: 2,738.31... +15.25

NASDAQ: 7,328.85... -26.14

U.S. Dollar Index: 96.34... -0.05

Cotton (www.ams.usda.gov): 

December Cotton Futures: 78.87… +0.08

Milk (www.cmegroup.com): 

November Class III Milk Futures: 14.70… -0.08