Nov 19 2019

Texas Daily Market News Summary Posted 5 years 9 days ago by Administrator Account

Daily Market Summary for November 19th

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, negotiated cash trade was mostly inactive on light demand in all feeding regions. The latest established market was last week with live purchases in the Southern Plains at 115.00. Last week in Nebraska live purchases traded from 115.00-116.00 with dressed purchases at 182.00. For the previous week in the Western Cornbelt, live purchases traded mostly at 115.00 with dressed purchases at 182.00.

     

Negotiated Sales:

Confirmed: 432 --- Week Ago: 338 --- Year Ago: 448

  

Formula Net - Dressed Steers & Heifers:

Head count priced today: 64,400

Weighted avg weight:            875

Weighted avg net price:   183.73

           

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales Monday saw no new trade to report. This week's showlist has been compiled with volumes smaller than the previous week. Even though a 147.00 does not seem that exciting new second half price highs were established last week. Looking at the Canadian boxed beef market. Canadian beef cutout values have been unable to keep pace with the strength in the US markets. Canadian AAA and AA cutout values are trading at a 22-28 discount compared to the US Choice and Select prices.  

         

Livestock Slaughter under Federal Inspection:              

                                   Cattle       Calves    Hogs         Sheep

Tuesday (est)          118,000    2,000     494,000      8,000

Week ago (est)        119,000    2,000     492,000      9,000

Year ago (act)          122,000    3,000     478,000    10,000

Week to date (est)  236,000    4,000     987,000    16,000

Last Week (est)       231,000    4,000     936,000    17,000

Last Year (act)         242,000    5,000     956,000    21,000

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

                         Monday           93,000                      25,000

                                                                                                          

Boxed Beef:

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     239.01     215.47

Change from prior day:        -0.11        -0.12

Choice/Select spread:          23.54

Total Load Count (Cuts, Trimmings, Grinds): 120

  

Cutter Cow Cutout: 186.13… -0.11

 

CME Feeder Cattle Index: 146.54… -0.15

     

Futures…

Live Cattle:

December: 118.77… +0.07

February: 125.05… -0.05

April: 126.17… -0.23

Feeder Cattle:

November: 146.60… +0.23

January: 144.02… -0.45

March: 144.47… -0.25

---

December Hogs: 62.15… -0.60

December Crude Oil: 55.21… -1.84

---

December Corn: 3.7000… +0.0225

January Soybeans: 9.1150… +0.0125

December Wheat: 5.1200… +0.0475

---

Grain Cash Bids:

Kansas City Corn: 3.79… +0.02

Kansas City Soybeans: 8.72… +0.02

Kansas City Wheat: 5.02… +0.05

---

Financial Markets:

Dow Jones Industrial Average: 27,933.98… -102.24

S & P 500: 3,120.18… -1.85

NASDAQ: 8,570.66… +20.72

U.S. Dollar Index: 97.85… +0.06