Nov 19 2018

Texas Daily Ag Market News Summary Posted 6 years 8 days ago by Administrator Account

Daily Market Summary for November 19th  

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 trading has been at a standstill in the Southern and Northern Plains. In the Western Cornbelt negotiated cash trading has been inactive on very light demand. Not enough trades for a market trend. Last week in the Southern and Northern Plains live cash trades moved at 114.00. In Nebraska dressed cash trades moved at 178.00. For the prior week in the Western Cornbelt live cash trades moved at 112.00 and dressed cash trades moved from 176.00-178.00.

 

Negotiated Sales:

Confirmed: 117    Week Ago: none    Year Ago: 1,255

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 39,200

Weighted avg weight:       853.00

Weighted avg net price:    181.93

 

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 149.00 and 147.50 respectively. Prices were steady to 0.50 higher than the previous week. Looking at the non-fed market butcher cows traded steady to 1.50 lower through commercial auction facilities last week. With seasonally larger non-fed supplies it is not surprising slaughter volumes have increased too. For the week ending November 10th western Canadian cow slaughter volumes totaled just under 10,000 head, this is the largest slaughter volume seen this year. 

 

Livestock Slaughter under Federal Inspection:                                  

                                  Cattle        Calves   Hogs          Sheep

Monday (est            119,000    2,000     479,000     8,000

Week ago (est)        111,000    2,000     441,000     7,000

Year ago (act)          121,000    1,000     461,000     9,000

 

Boxed Beef: 

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

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Cutout Values...              Choice       Select

Current Cutout Values:    213.39     198.57

Change from prior day:      +0.48       +1.00

Choice/Select spread:      +14.82

 

Live Cattle Futures:

December: 116.15… +0.80

February: 120.00… +0.28

April: 121.85… +0.30

Feeder Cattle Futures:

January: 147.27… +0.75

March: 144.32… +0.35

April: 144.65… +0.33

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CME Feeder Cattle Index: 147.09… -0.74

December Hog Futures: 61.02… +0.95

Nearby Crude Oil Futures Contract: 56.76… +0.30

 

National Grain Market Summary:

Compared to Friday, cash bids for wheat, corn, soybeans, and sorghum were lower. USDA said 5.4 million bushels of corn and 38.8 million bushels of soybeans were inspected for export last week. Both values could be viewed as bearish.

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Kansas City Corn: 3.62… -0.03

Kansas City Soybeans: 8.40… -0.18

Kansas City Wheat: 4.84… -0.09

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December Corn Futures: 3.6225… -0.0250

November Soybean Futures: 8.7325… -0.1850

December Wheat Futures: 4.9850… -0.0825

 

Financial Markets: 

Dow Jones Industrial Average: 25,017.44… -395.78

S & P 500: 2,690.72… -45.55

NASDAQ: 7,028.48… -219.39

U.S. Dollar Index: 96.21… -0.22

Cotton (www.ams.usda.gov): 

December Cotton Futures: 75.88… -0.24

Milk (www.cmegroup.com): 

November Class III Milk Futures: 14.55… -0.03