Nov 29 2018

Texas Daily Ag Market News Summary Posted 5 years 363 days ago by Administrator Account

Daily Market Summary for November 29th  

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! 

---

Slaughter Cattle:  

Thursday trading has been at a standstill in the Southern Plains. In Nebraska trading has been limited 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 Thursday in the Western Cornbelt trading has been limited on light demand. Not enough trades for a full market trend. The last reported live cash market was on Wednesday with live trades from 114.00 to 116.00. Last week dressed cash trades moved mostly at 180.00 with a few up to 185.00.

 

Negotiated Sales:

Confirmed: 6,739    Week Ago: none    Year Ago: 33,018

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 19,000

Weighted avg weight:       889.00

Weighted avg net price:    185.81

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Wednesday saw no new trade to report. Dressed bids have been reported from 250.00-252.00. Bids are 2.00 higher from last week. Over the past couple of weeks holsteins are about 10.00 back of beef cattle on a dressed basis. The way things are shaping up Alberta fed prices will remain at a discount to the US market. 

 

Livestock Slaughter under Federal Inspection:                                  

                                   Cattle        Calves   Hogs          Sheep

Thursday (est          120,000    2,000     474,000      8,000

Week ago (est)            2,000        0             2,000         0

Year ago (act)          120,000    1,000     464,000      8,000

Week to date (est) 476,000    8,000   1,866,000    34,000

Last Week (est)       358,000    6,000   1,438,000    23,000

Last Year (act)         476,000    7,000   1,830,000    33,000

 

Boxed Beef: 

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

---

Cutout Values...              Choice       Select

Current Cutout Values:    212.61     198.53

Change from prior day:       -0.67       +0.03

Choice/Select spread:       +14.08

 

Live Cattle Futures:

December: 116.60… -0.17

February: 120.27… -0.28

April: 121.87… -0.53

Feeder Cattle Futures:

January: 145.97… -1.73

March: 143.67… -1.68

April: 144.37… -1.45

---

CME Feeder Cattle Index: 147.47… -0.44

December Hog Futures: 58.72… +0.77

Nearby Crude Oil Futures Contract: 51.45… +1.16

 

National Grain Market Summary:

Compared to yesterday, cash bids for wheat and corn were mixed, while soybeans and sorghum were lower.  USDA said last week's corn export sales and shipments totaled 49.9 million and 41.5 million bushels, respectively, putting total shipments up 81% in 2018-19 from a year ago and total export commitments up 16% from a year ago.  Last week's export sales and shipments of wheat totaled 13.9 million and 9.2 million bushels, respectively, putting wheat shipments down 18% from a year ago.  Soybean sales totaled 23.1 million.

 ---

Kansas City Corn: 3.64… -0.01

Kansas City Soybeans: 8.54… -0.03

Kansas City Wheat: 4.76… -0.01

 ---

December Corn Futures: 3.6025… -0.0025

November Soybean Futures: 8.8725… -0.0325

December Wheat Futures: 4.9650… -0.0100

 

Financial Markets: 

Dow Jones Industrial Average: 25,338.84… -27.59

S & P 500: 2,737.80… -5.99

NASDAQ: 7,273.08… -18.51

U.S. Dollar Index: 96.76… -0.07

Cotton (www.ams.usda.gov): 

December Cotton Futures: 76.64… -1.12

Milk (www.cmegroup.com): 

November Class III Milk Futures: 14.47… -0.02