Nov 15 2018

Texas Daily Ag Market News Summary Posted 6 years 12 days ago by Administrator Account

Daily Market Summary for November 15th  

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:  

Thursday negotiated cash trading has been inactive on very light demand in Nebraska and the Western Cornbelt. Not enough trades for a market trend. In the Southern Plains and Colorado negotiated cash trading has been at a standstill. The latest established market in any feeding region was last week. Live purchases in the Southern Plains traded mostly at 114.00, with a few at 115.00. In Nebraska live purchases traded from 113-114.50, bulk at 114.00 with dressed purchases mostly at 180.00. In Colorado, live purchases traded at 114.00. In the Western Cornbelt, live purchases traded mostly from 111.00-113.00 with dressed purchases from 177.00-180.00.

USDA’s carcass weight data released today showed weekly steer weights increased by 4 lbs. to 899 lbs., but are still 3 lbs. lower than a year ago.

 

Negotiated Sales:

Confirmed: 2,535    Week Ago: 4,269    Year Ago: 6,311

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 23,400

Weighted avg weight:       865.00

Weighted avg net price:    182.45

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Wednesday saw no new trade to report. Dressed bids have been reported at 248.00 delivered. Bids are fully steady with the previous week. Packers remain comfortably bought out in front. There have been reports packers are behind schedule lifting cattle. Seasonally fed cattle prices should be trending higher.

 

Livestock Slaughter under Federal Inspection:                                  

                                  Cattle        Calves    Hogs         Sheep

Thursday (est          119,000    2,000      476,000      7,000

Week ago (est)       116,000    2,000      473,000      7,000

Year ago (act)         122,000    1,000      467,000      9,000

Week to date (est) 467,000    8,000   1,873,000    31,000

Last Week (est)      473,000    8,000   1,898,000    31,000

Last Year (act)        479,000    7,000   1,865,000    33,000

 

Boxed Beef: 

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

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Cutout Values...              Choice       Select

Current Cutout Values:    213.55     197.58

Change from prior day:      +0.39       +0.40

Choice/Select spread:       +15.99

 

Futures: 

Live Cattle…

December: 115.55… +0.55

February: 119.10… +0.50

April: 120.95… +0.38

Feeder Cattle…

November: 148.62… -0.35

January: 147.85… +0.88

March: 144.55… +0.75

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CME Feeder Cattle Index: 148.93… -0.45

December Hog Futures: 57.07… +0.07

Nearby Crude Oil Futures Contract: 56.46… +0.21

 

National Grain Market Summary:

Compared to yesterday, cash bids for corn, sorghum, and soybeans were higher, while wheat was mixed.  The seven day forecast appears mostly dry in the coming week which should be favorable to finish up harvest for corn and help many areas for soybeans.  Last week's ethanol production was down slightly from the previous week to 1.067 million barrels per day while ethanol inventory increased from 23.2 to 23.5 million barrels.

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Kansas City Corn: 3.68… +0.03

Kansas City Soybeans: 8.54… +0.05

Kansas City Wheat: 4.90… -0.01

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December Corn Futures: 3.6750… +0.0050

November Soybean Futures: 8.8875… +0.0525

December Wheat Futures: 5.0550… +0.0250

 

Financial Markets: 

Dow Jones Industrial Average: 25,289.27… +208.77

S & P 500: 2,730.20… +28.62

NASDAQ: 7,259.03… +122.64

U.S. Dollar Index: 97.04... +0.05

Cotton (www.ams.usda.gov): 

December Cotton Futures: 76.25… -0.14

Milk (www.cmegroup.com): 

November Class III Milk Futures: 14.56… -0.01