Nov 07 2018

Texas Daily Ag Market News Summary Posted 6 years 20 days ago by Administrator Account

Daily Market Summary for November 7th  

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:  

Wednesday negotiated cash trade was limited on light to moderate demand in Nebraska and the Western Cornbelt. Trade was mostly inactive on light demand in all other feeding regions. The latest established market in the Southern Plains was last week with live purchases at 116.00. In Nebraska for the prior week live purchases traded from 114.00-116.00 with dressed purchases at 180.00. For the previous week in Colorado live purchases traded from 115.00-116.00. Last week in the Western Cornbelt live cash purchases traded mostly at 114.00 with a few dressed purchases at 180.00.

 

Negotiated Sales:

Confirmed: 2,418    Week Ago: 1,543    Year Ago: 45,025

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 13,900

Weighted avg weight:        900.00

Weighted avg net price:    185.13

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Tuesday saw no new trade to report but there is a chance scattered trade could develop by this afternoon. Technical price levels have eased since Monday. Earlier in the week there were rumblings of 245.00 being bid but no cattle traded at that level. Seasonally fed cattle supplies should continue to tighten.

 

Livestock Slaughter under Federal Inspection:                                  

                                   Cattle        Calves    Hogs          Sheep

Wednesday (est      119,000    2,000      479,000      7,000

Week ago (est)        118,000    2,000      477,000      7,000

Year ago (act)          118,000    2,000      465,000      7,000

Week to date (est) 357,000    6,000   1,432,000    24,000

Last Week (est)       352,000    6,000   1,408,000    21,000

Last Year (act)         352,000    6,000   1,384,000    24,000

 

Boxed Beef: 

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

  

Cutout Values...              Choice       Select

Current Cutout Values:    218.22     201.77

Change from prior day:      -0.54       -2.89

Choice/Select spread:      +16.45

 

Futures: 

December Live Cattle Futures: 116.10… +0.68

February Live Cattle Futures: 119.60… -0.80

April Live Cattle Futures: 121.32… -0.60

November Feeder Cattle Futures: 149.92… -0.05

January Feeder Cattle Futures: 145.82… -0.78

March Feeder Cattle Futures: 144.17… -1.23

  

CME Feeder Cattle Index: 152.88… -0.44

December Hog Futures: 55.52… +1.42

Nearby Crude Oil Futures Contract: 61.67… -0.54

 

National Grain Market Summary:

Compared to yesterday, cash bids for wheat and sorghum were lower, corn and soybeans were mixed.  Some of today’s trading may have been focused on getting positions set ahead of the next WASDE report set to be released tomorrow.

  

December Corn Futures: 3.7225… -0.0100

November Soybean Futures: 8.6775… -0.0425

December Wheat Futures: 5.1025… -0.0175

Kansas City Corn: 3.67… +0.04

Kansas City Soybeans: 8.32… +0.01

Kansas City Wheat: 5.12… -0.06

 

Financial Markets: 

Dow Jones Industrial Average: 26,180.30… +545.02

S & P 500: 2,813.89… +58.39

NASDAQ: 7,570.75… +194.79

U.S. Dollar Index: 96.11… -0.16

Cotton (www.ams.usda.gov): 

December Cotton Futures: 78.96… +1.53

Milk (www.cmegroup.com): 

November Class III Milk Futures: 14.46… -0.06