Nov 12 2019

Texas Daily Market News Summary Posted 5 years 16 days ago by Administrator Account

Daily Market Summary for November 12th

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Slaughter Cattle: 

As of 3:00 PM Tuesday, negotiated cash trading has been at a standstill in the Southern Plains and Nebraska. 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 Texas Panhandle live cash trades moved mostly at 115.00. In Kansas the bulk of live cash trades moved at 114.00. For the prior week in Nebraska live and dressed cash trades moved mostly from 114.00-115.00 and 181.00, respectively. For the previous week in the Western Cornbelt live and dressed cash trades moved mostly from 114.00-115.00 and 181.00-182.00, respectively.

    

Negotiated Sales:

Confirmed: 116 --- Week Ago: 233 --- Year Ago: 1,319

  

Formula Net - Dressed Steers & Heifers:

Head count priced today: 27,200

Weighted avg weight:             880

Weighted avg net price:    180.76

           

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales last week saw light trade develop with weighted average steer and heifer prices closing the week in the low 140's. Prices were steady to 1.00 lower than the previous week. All reported cash sales traded locally. Looking at the non-fed market butcher cows traded 1.00 lower through commercial auction facilities last week. Larger non-fed volumes are starting to show up at auction marts. Buying interest on the butcher cow market has been noted from both western Canadian packers and feeder cow buyers. 

      

Livestock Slaughter under Federal Inspection:              

                                   Cattle       Calves    Hogs         Sheep

Tuesday (est)          119,000    2,000     492,000      9,000

Week ago (est)       119,000    2,000     491,000       8,000

Year ago (act)         120,000    3,000     484,000    10,000

Week to date (est)  231,000    4,000     936,000    17,000

Last Week (est)       234,000    4,000     982,000    17,000

Last Year (act)         231,000    4,000     924,000    17,000

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

                           Monday           87,000                    25,000

                                                                                             

Boxed Beef:

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

 

Cutout Values...                Choice     Select

Current Cutout Values:     240.50     216.23

Change from prior day:       +1.91       +2.54

Choice/Select spread:          24.27

Total Load Count (Cuts, Trimmings, Grinds): 92

  

Cutter Cow Cutout: 184.50… +5.56

  

CME Feeder Cattle Index: 147.25… +0.73

  

Futures…

Live Cattle:

December: 119.75… -0.12

February: 125.57… -0.10

April: 127.05… +0.10

Feeder Cattle:

November: 147.80… +0.23

January: 147.12… Unchanged

March: 146.82… +0.12

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December Hogs: 64.72… +1.42

December Crude Oil: 56.80… -0.06

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December Corn: 3.7775… +0.0450

January Soybeans: 9.1700… Unchanged

December Wheat: 5.1700… +0.1125

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Grain Cash Bids:

Kansas City Corn: 3.83… +0.03

Kansas City Soybeans: 8.72… -0.14

Kansas City Wheat: 5.07… +0.07

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Financial Markets:

Dow Jones Industrial Average: 27,691.35… -0.14

S & P 500: 3,091.86… +4.85

NASDAQ: 8,486.09… +21.81

U.S. Dollar Index: 98.34… +0.14