Nov 20 2018

Texas Daily Ag Market News Summary Posted 6 years 7 days ago by Administrator Account

Daily Market Summary for November 20th  

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:  

As of 3:00 PM, 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: 322    Week Ago: 1,319    Year Ago: 19,498

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 26,400

Weighted avg weight:       862.00

Weighted avg net price:    182.37

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Monday saw no new trade to report. This week's showlist has been compiled with volumes larger than the previous week. Last week on a cash to cash basis Alberta fed prices were at a 1.50 discount against the US market. Alberta fed prices have been at a discount against the US market for the past four weeks.

 

Livestock Slaughter under Federal Inspection:                                  

                                   Cattle        Calves   Hogs          Sheep

Tuesday (est            119,000    2,000     479,000     9,000

Week ago (est)        119,000    2,000     478,000     9,000

Year ago (act)          122,000    3,000     462,000    10,000

Week to date (est) 238,000    4,000     958,000    17,000

Last Week (est)       230,000    4,000     919,000    16,000

Last Year (act)         243,000    4,000     923,000    19,000

 

Boxed Beef: 

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

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Cutout Values...              Choice       Select

Current Cutout Values:    214.09     198.43

Change from prior day:       +0.70       -0.14

Choice/Select spread:      +15.66

 

Live Cattle Futures:

December: 115.70… -0.45

February: 119.72… -0.28

April: 121.57… -0.28

Feeder Cattle Futures:

January: 146.87… -0.40

March: 144.15… -0.17

April: 144.50… -0.15

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CME Feeder Cattle Index: 147.40… +0.31

December Hog Futures: 58.97… -2.05

Nearby Crude Oil Futures Contract: 53.43… -3.77

 

National Grain Market Summary:

Compared to yesterday, cash bids for wheat were mixed, corn and sorghum were lower, soybeans were higher.  Soybeans gained some support today from USDA reporting a 4.5 million bushel sale of soybeans to unknown destinations.

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Kansas City Corn: 3.61… -0.01

Kansas City Soybeans: 8.47… +0.07

Kansas City Wheat: 4.83… -0.01

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December Corn Futures: 3.6125… -0.0100

November Soybean Futures: 8.8100… +0.0725

December Wheat Futures: 5.0075… +0.0225

 

Financial Markets: 

Dow Jones Industrial Average: 24,465.64… -551.80

S & P 500: 2,641.89… -48.83

NASDAQ: 6.908.82… -119.66

U.S. Dollar Index: 96.83… +0.66

Cotton (www.ams.usda.gov): 

December Cotton Futures: 75.27… -0.61

Milk (www.cmegroup.com): 

November Class III Milk Futures: 14.47… -0.08