Nov 28 2018

Texas Daily Ag Market News Summary Posted 5 years 364 days ago by Administrator Account

Daily Market Summary for November 28th    

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 trading has been at a standstill in the Texas Panhandle. In Kansas and Nebraska trading has been inactive on very light demand. Not enough trades in these regions for a full market trend. Last week in the Texas Panhandle saw live cash trades from 116.50-117.00, mostly at 117.00. In Kansas live cash trades moved from 116.00-117.00. For the prior week in Nebraska live cash trades moved from 116.00-117.00, mostly at 116.00. Dressed cash trades moved from 18.00-185.00, mostly at 185.00. Thus far for Wednesday in the Western Cornbelt trading has been slow on light demand. Compared to last week, early live cash trades have moved 1.00 to 2.00 higher from 114.00 to 116.00. Not enough dressed cash trades for a market trend. Last week dressed cash trades moved mostly at 180.00 with a few up to 185.00.

 

Negotiated Sales:

Confirmed: 3,734    Week Ago: 19,380    Year Ago: 66

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 22,400

Weighted avg weight:       860.00

Weighted avg net price:    186.55

 

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 improved from the beginning of the week. Some cattle have been carried over for the past few weeks and there could be additional selling pressure to market cattle this week. Big non-fed slaughter volumes has taken some hook space away from fed cattle. 

 

Livestock Slaughter under Federal Inspection:                                  

                                   Cattle        Calves   Hogs          Sheep

Wednesday (est      120,000    2,000      477,000      9,000

Week ago (est)        118,000    2,000      478,000      6,000

Year ago (act)          119,000    2,000      458,000      8,000

Week to date (est) 356,000    6,000   1,392,000    26,000

Last Week (est)       356,000    6,000   1,436,000    23,000

Last Year (act)         356,000    6,000   1,366,000    25,000

 

Boxed Beef: 

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

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Cutout Values...              Choice       Select

Current Cutout Values:    213.28     168.50

Change from prior day:       -0.72       -1.74

Choice/Select spread:       +14.78

 

Live Cattle Futures:

December: 116.77… +0.07

February: 120.55… -0.05

April: 122.40… -0.17

Feeder Cattle Futures:

January: 147.70… -0.72

March: 145.35… -0.65

April: 145.82… -0.58

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CME Feeder Cattle Index: 147.91… -0.26

December Hog Futures: 57.95… +0.08

Nearby Crude Oil Futures Contract: 50.29… -1.27

 

National Grain Market Summary:

Compared to yesterday, cash bids for wheat, corn, soybeans, and sorghum were higher.  Soybeans moved higher today gaining 15 cents on the January contract. This may have resulted in some spill over buying for corn and Kansas City Wheat contracts as well.  Ethanol production for last week totaled 1.048 million barrels per day, 6,000 barrels per day higher than the week prior.

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Kansas City Corn: 3.65… +0.08

Kansas City Soybeans: 8.57… +0.15

Kansas City Wheat: 4.77… +0.08

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December Corn Futures: 3.6050… +0.0400

November Soybean Futures: 8.9050… +0.1500

December Wheat Futures: 4.9750… -0.0050

 

Financial Markets: 

Dow Jones Industrial Average: 25,366.37… +617.64

S & P 500: 2,743.78… +61.61

NASDAQ: 7,291.59… +208.89

U.S. Dollar Index: 96.84… -0.52

Cotton (www.ams.usda.gov): 

December Cotton Futures: 77.76… +0.99

Milk (www.cmegroup.com): 

November Class III Milk Futures: 14.49… +/-0.00