Nov 20 2019

Texas Daily Ag Market Summary Posted 5 years 8 days ago by Administrator Account

Daily Market Summary for November 20th 

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Slaughter Cattle: 

As of 3:00 PM Wednesday, trade was moderate on good demand in the Southern Plains. Compare to last week in the Southern Plains, live purchases traded 1.00 higher at 116.00. Trade was light on moderate demand in Nebraska and the Western Cornbelt. A few early purchases were reported in Nebraska from 114.00-116.00 and at 184.00, however not enough for an adequate market test. In the Western Cornbelt a few early live purchases traded from 115.00-117.00, however not enough for an adequate market test. The latest established market in Nebraska was last week with live purchases 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: 31,277 --- Week Ago: 17,847 --- Year Ago: 19,380

  

Formula Net - Dressed Steers & Heifers:

Head count priced today: 17,400

Weighted avg weight:             874

Weighted avg net price:    185.40

           

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 improved since Monday. Carcass weights are large but seasonally this is not uncommon as carcass weights traditionally peak around this time of year. Western Canadian steer carcass weights averaged 936 lbs, this is the largest weights have been since April 2016. Feeding margins remain negative and to a certain degree producers are fighting the market as fed prices usually rally late in the year.  

         

Livestock Slaughter under Federal Inspection:              

                                   Cattle       Calves    Hogs         Sheep

Wednesday (est)    117,000    3,000      493,000      7,000

Week ago (est)       118,000    3,000      492,000      7,000

Year ago (act)         121,000    3,000       476,000      6,000

Week to date (est)  353,000    7,000   1,480,000    23,000

Last Week (est)       349,000    7,000   1,428,000    24,000

Last Year (act)         363,000    8,000   1,432,000    27,000

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

                           Tuesday          92,000                     26,000

                                                                                                               

Boxed Beef:

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

 

Cutout Values...                 Choice    Select

Current Cutout Values:     238.21     214.77

Change from prior day:        -0.80        -0.70

Choice/Select spread:          23.44

Total Load Count (Cuts, Trimmings, Grinds): 123

  

Cutter Cow Cutout: 186.07… -0.06

 

CME Feeder Cattle Index: 146.62… +0.08

     

Futures…

Live Cattle:

December: 119.30… +0.53

February: 125.47… +0.42

April: 126.25… +0.08

Feeder Cattle:

November: 146.60… Unchanged

January: 144.07… +0.05

March: 144.15… -0.32

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December Hogs: 60.45… -1.70

December Crude Oil: 57.11… +1.90

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December Corn: 3.6675… -0.0325

January Soybeans: 9.0500… -0.0650

December Wheat: 5.1550… +0.0350

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Grain Cash Bids:

Kansas City Corn: 3.73… -0.06

Kansas City Soybeans: 8.73… +0.01

Kansas City Wheat: 5.06… +0.04

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Financial Markets:

Dow Jones Industrial Average: 27,819.73… -114.29

S & P 500: 3,108.36… -11.82

NASDAQ: 8,526.73… -43.93

U.S. Dollar Index: 97.92… +0.06