Nov 07 2022

Texas Daily Ag Market News Summary Posted 2 years 20 days ago by Administrator Account

Daily Market Summary for November 7th

The Daily Market News Report brought to you by The Cattle Range. Please visit their website for more information!

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Slaughter Cattle:

As of 3:00 PM Monday, negotiated cash trading has been at a standstill in the Southern Plains and Nebraska. In the Western Cornbelt negotiated cash trading has been mostly inactive on very light demand. Not enough purchases for a market trend. Last week in the Texas Panhandle live purchases traded from 149.00-150.00. For the prior week in Kansas live purchases traded at 150.00. For the previous week in Nebraska live and dressed purchases traded at 153.00 and 242.00, respectively. Last week in the Western Cornbelt live and dressed purchases traded at 153.00 and from 240.00-242.00, respectively.

 

Negotiated Sales:

Confirmed:      250

Week Ago:       148

Year Ago:      2,490

 

Formula Net - Dressed Steers & Heifers:

Head count priced today:   40,800

Weighted avg. weight:         878.00

Weighted avg. net price:     242.17

 

Cattle Slaughter under Federal Inspection

Monday (est)                       123,000

Week ago (est)                     128,000

Year ago (act)                       120,000

Friday:

Steers & Heifers:            98,000

Cows & Bulls:                 18,000

 

Boxed Beef:

Cutout Values:

Choice: 264.55… +0.80

Select:  235.92… +4.02

Choice/Select Spread: 28.83

Total Load Count: 97

 

Cutter Cow Cutout:

196.45… -0.28

 

CME Feeder Cattle Index for November 4th:

176.91… -0.08 / -0.05%

1 Year Change: +14.42%

52 Week Range: 152.31 to 183.16

 

Futures Settlements…

Live Cattle:

December: 153.05… +1.40

February: 155.02… +0.65

April: 158.55… +0.55

 

Feeder Cattle:

November: 178.22… +0.40

January: 179.92… +0.30

March: 182.25… +0.63

 

December Hogs: 87.05… +4.08

December Crude Oil: 91.79… -0.82

 

December Corn: 6.7575… -0.0525

December Wheat: 8.4575… -0.0200

 

Grain Cash Bids:

Omaha Corn: 7.07… -0.04

Kansas City Wheat: 9.09… +0.04

 

Financial Markets:

DJIA: 32,829.18… +424.38

S & P 500: 3,807.54… +36.95

NASDAQ: 10,564.77… +89.51

U.S. Dollar Index: 110.14… -0.74