Nov 15 2019

Texas Daily Ag Market News Summary Posted 5 years 13 days ago by Administrator Account

Daily Market Summary for November 15th

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

 

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Slaughter Cattle: 

As of 3:00 PM Friday, trade is light on light to moderate demand in Nebraska and the Western Cornbelt, however not enough purchases for an adequate market test. Trade was inactive on light demand in the Southern Plains. The latest established market was on Thursday with live purchases in Nebraska from 114.00-116.50, bulk from 115.00-116.00 and dressed purchases at 182.00. In the Western Cornbelt on Thursday live purchases traded mostly at 115.00 with dressed purchases at 182.00. On Wednesday in the Southern Plains live purchases traded at 115.00.

    

Negotiated Sales:

Confirmed: 12,170 --- Week Ago: 52,597 --- Year Ago: 21,568

  

Formula Net - Dressed Steers & Heifers:

Head count priced today: 20,700

Weighted avg weight:           863

Weighted avg net price:   183.64

           

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle Thursday saw light trade develop with dressed sales marked at 243.00 delivered. Sales are 2.00-6.00 higher than the previous week. Buyers were indicating cattle that they bought this week would not be lifted until the first week in December. Light volumes of western Canadian fed cattle traded into the US. Depending on freight and dressing percentage, sales to the US are working back to the upper 140's on a live basis, FOB the feedlot. Sales to the US are at a couple dollars premium over local sales. 

         

Livestock Slaughter under Federal Inspection:              

                                   Cattle       Calves    Hogs         Sheep

Friday (est)              117,000     2,000      485,000      6,000

Week ago (est)        117,000     2,000      484,000      7,000

Year ago (act)          122,000     3,000      465,000      8,000

Week to date (est)  584,000   11,000   2,401,000    37,000

Last Week (est)       587,000   10,000   2,449,000    38,000

Last Year (act)         595,000   12,000   2,345,000    41,000

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

                         Thursday           92,000                    26,000             

                                                                                                 

Boxed Beef:

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     240.80     214.33

Change from prior day:        -0.26        -1.51

Choice/Select spread:          26.47

Total Load Count (Cuts, Trimmings, Grinds): 81

  

Cutter Cow Cutout: 185.07… +0.48

 

CME Feeder Cattle Index: 147.44

     

Futures…

Live Cattle:

December: 119.10… +0.03

February: 124.97… +0.05

April: 126.07… -0.03

Feeder Cattle:

November: 146.25… -0.37

January: 144.27… +0.22

March: 144.22… +0.15

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December Hogs: 63.20… +0.45

December Crude Oil: 57.72… +0.95

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December Corn: 3.7125… -0.0450

January Soybeans: 9.1825… +0.0150

December Wheat: 5.0275… -0.0500

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Grain Cash Bids:

Kansas City Corn: 3.80… -0.02

Kansas City Soybeans: 8.78… +0.01

Kansas City Wheat: 4.93… -0.05

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Financial Markets:

Dow Jones Industrial Average: 28,003.94… +221.98

S & P 500: 3,120.38… +23.75

NASDAQ: 8,540.83… +61.81

U.S. Dollar Index: 98.00… -0.16