Nov 30 2018

Texas Daily Ag Market News Summary Posted 5 years 362 days ago by Administrator Account

Daily Market Summary for November 30th  

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 on Friday, trade has been light on moderate demand in Nebraska and the Western Cornbelt. Compared to Wednesday in the Western Cornbelt, live purchases have traded unevenly steady at 115.00. The latest established dressed market was last week mostly at 180.00 with a few up to 185.00. In Nebraska a few early dressed purchases traded at 183.00, however not enough for an adequate market test. Last week dressed purchases traded from 180.00-185.00, bulk at 185.00. Live purchases last week traded from 116.00-117.00, bulk at 116.00. Trade was inactive on light to moderate demand in the Southern Plains. Last week in the Texas Panhandle live purchases traded from 116.00-117.00, mostly at 117.00. In Kansas live purchases traded from 116.00-117.00.

 

Negotiated Sales:

Confirmed: 9,523    Week Ago: 7,354    Year Ago: 27,420

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 20,300

Weighted avg weight:       851.00

Weighted avg net price:    185.75

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Thursday saw light trade develop with live sales in the upper 140's. Sales are fully steady with last week's weighted average price. By the sounds of things one packer did lower bids to 248.00 yesterday. bids are a couple dollars lower compared to bids/sales reported on Wednesday. Buyers were indicating cattle that they bought this week would be lifted in during the week of December 17th.   

 

Livestock Slaughter under Federal Inspection:                                  

                                   Cattle        Calves        Hogs            Sheep

Friday (est                121,000    2,000            473,000       8,000

Week ago (est)        120,000    2,000            467,000        7,000

Year ago (act)          118,000     3,000            469,000       6,000

Week to date (est) 597,000   10,000         2,339,000     42,000

Last Week (est)       478,000     8,000         1,905,000     30,000

Last Year (act)         594,000    10,000        2,299,000     39,000

Saturday (est              46,000        0                209,000         0

Week ago (est)           95,000        0                353,000         0

Year ago (act)             49,000       1,000         248,000          1,000

Week to date (est)    643,000     10,000      2,548,000        42,000

Last Week (est)        573,000       8,000      2,258,000        30,000

Last Year* (act)        643,000     11,000      2,547,000        41,000

2018 YTD                30,024,00  512,000  113,516,000    1,818,000

2017 *YTD            29,324,000  461,000  110,811,000    1,772,000

Percent change        +2.4%     + 11.1%        +2.4%           +2.6% 

 

Boxed Beef: 

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

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Cutout Values...              Choice       Select

Current Cutout Values:    212.61     198.41

Change from prior day:        0.00       -0.12

Choice/Select spread:       +14.20

 

Live Cattle Futures:

December: 116.92… +0.32

February: 120.50… +0.23

April: 122.00… +0.13

Feeder Cattle Futures:

January: 145.22… -0.75

March: 142.85… -0.82

April: 143.62… -0.75

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CME Feeder Cattle Index: 147.13… -0.34

December Hog Futures: 57.87… -0.85

Nearby Crude Oil Futures Contract: 50.93… -0.52

 

National Grain Market Summary:

Compared to last week, cash bids for wheat, corn, and sorghum were mixed, while soybeans were higher.  Trade has been focused this week on the upcoming G20 meetings that begin this weekend.  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.  Wheat was from 5 1/2 cents lower to 26 cents higher.  Corn was from 17 1/2 cents lower to 5 1/2 cents higher.  Sorghum was from 3 cents lower to 11 cents higher.  Soybeans were 4 1/4 to 21 1/4 cents higher.

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Kansas City Corn: 3.71… +0.07

Kansas City Soybeans: 8.61… +0.07

Kansas City Wheat: 5.02… +0.26

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December Corn Futures: 3.6650… +0.0625

November Soybean Futures: 8.9475… +0.0750

December Wheat Futures: 5.1575… -0.1925

 

Financial Markets: 

Dow Jones Industrial Average: 25,537.24… +198.40

S & P 500: 2,759.79… +22.03

NASDAQ: 7,330.54… +57.46

U.S. Dollar Index: 97.21… +0.42

Cotton (www.ams.usda.gov): 

December Cotton Futures: 77.16… +0.52

Milk (www.cmegroup.com): 

November Class III Milk Futures: 14.46… -0.01