Nov 16 2018

Texas Daily Ag Market News Summary Posted 6 years 11 days ago by Administrator Account

Daily Market Summary for November 16th  

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:  

Thus far for Friday in Nebraska and the Western Cornbelt negotiated cash trading has been slow on moderate demand. In Nebraska a few early dressed trades moved at 178.00. In the Western Cornbelt a few live trades moved from 111.50-112.00 and a few dressed trades moved at 178.00. However, not enough trades in either region for a full 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. 

Widespread trade developed after 3:00 PM on Friday at mostly 114.

 

Negotiated Sales:

Confirmed: 21,568    Week Ago: 60,020    Year Ago: 7,670

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 19,100

Weighted avg weight:       870.00

Weighted avg net price:    181.67

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Thursday saw light trade develop with most of the dressed sales reported at 248.00 delivered. Sales are fully steady with last week. Cattle that were bought this week were being scheduled for the first week of December delivery. 

 

Livestock Slaughter under Federal Inspection:                                  

                                  Cattle        Calves      Hogs             Sheep

Friday (est               120,000      2,000         472,000        8,000

Week ago (est)       114,000      2,000         473,000        7,000

Year ago (act)          117,000      2,000        456,000         8,000

Week to date (est) 587,000   10,000     2,345,000       39,000

Last Week (est)       587,000   10,000     2,371,000       38,000

Last Year (act)         596,000     9,000      2,321,000       41,000

Saturday (est             54,000        0               281,000         0

Week ago (est)          53,000        0               218,000         0

Year ago (act)            46,000        0               154,000         1,000

Week to date (est) 641,000    10,000      2,626,000        39,000

Last Week (est)       640,000    10,000      2,589,000        38,000

Last Year* (act)       641,000    10,000      2,476,000        42,000

2018 YTD              28,792,00  489,000  108,709,000  1,740,000

2017 *YTD            28,106,00  442,000  106,111,000  1,699,000

Percent change        +2.4%     +10.7%         +2.4%          +2.4%

 

Boxed Beef: 

Boxed beef cutout values weak on Choice and steady on Select on light to moderate demand and offerings. Select and Choice loin cuts steady while rib, chuck, and round cuts steady to weak. Beef trimmings not fully established.

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Cutout Values...              Choice       Select

Current Cutout Values:    212.91     197.57

Change from prior day:      -0.64       -0.01

Choice/Select spread:      +15.34

 

Futures: 

Live Cattle…

December: 115.35… +0.20

February: 119.72… +0.62

April: 121.55… +0.60

Feeder Cattle…

January: 146.52… -1.33

March: 143.97… -0.58

April: 144.32… -0.68

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CME Feeder Cattle Index: 147.83… -1.10

December Hog Futures: 60.07… +3.00

Nearby Crude Oil Futures Contract: 56.46

 

National Grain Market Summary:

Compared to last week, cash bids for wheat and corn were mixed, sorghum was lower, and soybeans were higher, while wheat was mixed.  The seven day forecast looks clear for corn harvest and mostly clear for soybeans.  The weekly export sales report showed 438,300 metric tons of wheat, 892,500 metric tons of corn, and 470,400 metric tons of soybeans sold in the week leading up to November 8.  Wheat was from 17 ¼ cents lower to 62 cents higher.  Corn was from 6 cents lower to 5 cents higher. Sorghum was 11 to 12 cents lower.  Soybeans were 9 3/4 to 15 3/4 cents higher.

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Kansas City Corn: 3.65… -0.03

Kansas City Soybeans: 8.58… +0.04

Kansas City Wheat: 4.93… +0.03

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December Corn Futures: 3.6475… -0.0275

November Soybean Futures: 8.9225… +0.0350

December Wheat Futures: 5.0675… +0.0125

 

Financial Markets: 

Dow Jones Industrial Average: 25,413.22… +123.95

S & P 500: 2,736.27… +6.07

NASDAQ: 7,247.87… -11.16

U.S. Dollar Index: 96.45… -0.65

Cotton (www.ams.usda.gov): 

December Cotton Futures: 76.12… -0.13

Milk (www.cmegroup.com): 

November Class III Milk Futures: 14.58… +0.02