Nov 06 2019

Texas Daily Ag Market Summary Posted 5 years 22 days ago by Administrator Account

Daily Market Summary for November 6th

The Daily Market News Report is brought to you by The Cattle Range. Please visit https://www.cattlerange.com/comprehensive-cattle-market-reports-analysis/daily-summary/ for more information!

---

Slaughter Cattle:

As of 3:00 PM Wednesday, negotiated cash trade has been at a standstill in the Southern Plains. In Nebraska and the Western Cornbelt negotiated cash trade has been inactive with very light demand. Not enough trades for a full market trend. The latest established market in any feeding region was last week with live purchases in the Southern Plains at 112.00. Last week in Nebraska, live purchases traded mostly at 115.00 with dressed purchases mostly at 180.00. In the Western Cornbelt last week, live purchases traded mostly from 113.00-114.00 with dressed purchases mostly at 180.00.

    

Negotiated Sales:

Confirmed: 336 --- Week Ago: 8,116 --- Year Ago: 2,418

  

Formula Net - Dressed Steers & Heifers:

Head count priced today: 19,600

Weighted avg weight:            885

Weighted avg net price:   180.55

           

Alberta Beef Producers Daily Report: Alberta CA

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 eased since Monday. Based on the five-year average cash to cash and cash to futures historically weaken from October to November. Packers will likely be pulling hard on November contract cattle. Yesterday it was announced China would resume imports of Canadian beef and pork products.  

  

Livestock Slaughter under Federal Inspection:                                  

                                  Cattle       Calves    Hogs         Sheep

Wednesday (est)    118,000    2,000      492,000      7,000

Week ago (est)       117,000    2,000      474,000      7,000

Year ago (act)         120,000    3,000      472,000      8,000

Week to date (est)  352,000    6,000   1,474,000    24,000

Last Week (est)      348,000    6,000   1,455,000    25,000

Last Year (act)        363,000    8,000   1,424,000    26,000

Previous Day Estimated   Steers & Heifers --- Cows & Bulls 

                           Tuesday          93,000                     26,000

 

                                                                                           

Boxed Beef: 

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     237.14     211.53

Change from prior day:       +1.09       +1.71

Choice/Select spread:          25.61

Total Load Count (Cuts, Trimmings, Grinds): 132

  

Cutter Cow Cutout: 178.20… +4.42

  

CME Feeder Cattle Index: 146.26… +0.02

  

Futures…

Live Cattle:

December: 119.00… -0.45

February: 124.70… +0.03

April: 125.55… -0.27

Feeder Cattle:

November: 146.80… -1.05

January: 144.42… -1.35

March: 143.97… -1.23

---

December Hogs: 64.77… -2.50

December Crude Oil: 56.35… -0.88

---

December Corn: 3.7875… -0.0300

January Soybeans: 9.2750… -0.0675

December Wheat: 5.1675… +0.0150

---

Grain Cash Bids:

Kansas City Corn: 3.82… Unchanged

Kansas City Soybeans: 8.80… -0.07

Kansas City Wheat: 5.07… +0.02

---

Financial Markets:

Dow Jones Industrial Average: 27,492.56… -0.07

S & P 500: 3,076.77… +2.15

NASDAQ: 8,410.63… -24.05

U.S. Dollar Index: 97.94… -0.04