Nov 26 2019

Texas Daily Ag Market News Summary Posted 5 years 2 days ago by Administrator Account

Daily Market Summary for November 26th

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Slaughter Cattle:

As of 3:00 PM Tuesday, negotiated cash trading has been at a standstill in Kansas and Nebraska. In the Western Cornbelt negotiated cash trading has been inactive on very light demand. Not enough purchases for an adequate market test. The latest established market in any feeding region was last week with live cash trades in the Southern Plains at 116.00. In Nebraska last week, live cash trades moved from 115.00-117.50 with dressed cash trades moved at 184.00. In the Western Cornbelt for the previous week, live cash trades moved mostly at 116.00 and dressed cash trades moved at 184.00.

   

Negotiated Sales:

Confirmed:    640

Week Ago:  1,082

Year Ago:       300

 

Formula Net

Dressed Steers & Heifers:

Head count priced today: 26,300

Weighted avg weight:       890 lbs.

Weighted avg net price:    185.61

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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 steady with the previous week. Last week on a cash to cash basis Alberta fed prices were trading at 8.00 discount against the Nebraska market. The next 30 days is traditionally a strong period for the fed cattle market. In seven out of the past eight years second half highs have occurred in December.  Inventory wise front end packer supplies are tightening. Packers have been buying cattle for the first half of December delivery for the past three weeks.

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Cattle Slaughter under Federal Inspection:

Tuesday (est)           110,000

Week ago (est)        118,000

Year ago (act)          120,000

Week to date           228,000

Last week                 236,000

Last year                   234,000

Previous Day (est)

Steers & Heifers: 93,000

Cows & Bulls: 25,000

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Boxed Beef:

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

Cutout Values:

Choice: 231.84… -1.40

Select:  212.29… +0.38

C/S Spread: 19.55

Total Load Count:  143

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Cutter Cow Cutout:

185.24… +0.28

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CME Feeder Cattle Index:

144.79… -0.54

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Futures…

Live Cattle:

Dec: 120.40… +0.70

Feb: 125.67… +0.52

Apr: 126.10… +0.88

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Feeder Cattle:

Jan: 141.62… -0.35

Mar: 142.22… -0.13

Apr: 144.05… +0.30

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Dec Hogs: 60.82… -0.20

Dec Crude Oil: 58.41… +0.40

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Dec Corn: 3.6750… -0.0300

Jan Soybeans: 8.8425… -0.0825

Dec Wheat: 5.3025… -0.0075

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Grain Cash Bids:

Kansas City Corn: 3.77… -0.02

Kansas City Soybeans: 8.49… -0.08

Kansas City Wheat: 5.20… -0.01

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Financial Markets:

Dow Jones: 28,121.68… +55.21

S & P 500: 3,140.50… +6.86

NASDAQ: 8,647.93… +15.44

U.S. Dollar Index: 98.25… -0.08