Nov 01 2019

Texas Daily Ag Market Summary Posted 4 years 178 days ago by Administrator Account

Daily Market Summary for November 1st

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Slaughter Cattle:

As of 3:00 PM Friday, negotiated cash trading has been limited on moderate demand in Nebraska and the Western Cornbelt. In Nebraska a few dressed trades moved at 180.00. In the Western Cornbelt a few live trades ranged from 112.00-114.00. However, not enough trades in either region for a full market trend. For the prior week in Nebraska and Western Cornbelt live trades moved mostly at 110.00 and dressed trades moved mostly at 175.00. Thus far for Friday in the Southern Plains negotiated cash trading has been inactive on very light demand. Not enough trades for a market trend. The last fully reported market was on Wednesday with the bulk of live trades at 112.00.

    

Negotiated Sales:

Confirmed: 30,170 --- Week Ago: 12,486 --- Year Ago: 3,951

  

Formula Net - Dressed Steers & Heifers

Head count priced today: 22,600

Weighted avg weight:            861

Weighted avg net price:   176.23

           

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales Thursday saw light trade develop with dressed sales marked at 238.00 delivered. Sales are 2.00 lower than the previous week. Buyers were indicating cattle that they bought this week would not be lifted until the end of November. Light volumes of Western Canadian fed cattle traded into the US. Sales to the US were at a slight premium over local deals and cattle would also be lifted within a week. Cash to futures basis levels did weaken, some cattle will be carried into next week. 

  

Livestock Slaughter under Federal Inspection:                                  

                                  Cattle        Calves    Hogs          Sheep

Friday (est)             115,000      2,000      486,000     6,000

Week ago (est)       108,000      2,000      478,000      5,000

Year ago (act)         118,000      3,000      466,000     7,000

Week to date (est)  581,000   10,000   2,431,000    39,000

Last Week (est)       581,000   10,000   2,440,000    39,000

Last Year (act)         598,000   12,000   2,349,000    38,000

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

                         Thursday          92,000                      26,000

                                                                                    

Boxed Beef: 

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     233.20     207.51

Change from prior day:      +1.02      +1.02

Choice/Select spread:        25.69

Total Load Count (Cuts, Trimmings, Grinds): 79

  

Cutter Cow Cutout: 182.86… +9.53

  

CME Feeder Cattle Index: 145.23

  

Futures…

Live Cattle:

December: 119.52… +2.20

February: 124.22… +1.87

April: 125.45… +1.50

Feeder Cattle:

November: 149.12… +1.52

January: 146.00… +1.33

March: 145.12… +1.75

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December Hogs: 64.45… -1.55

December Crude Oil: 56.20… +2.02

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December Corn: 3.8925… -0.0075

December Soybeans: 9.2425… +0.0750

December Wheat: 5.1600… +0.0725

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Grain Cash Bids:

Kansas City Corn: 3.90… -0.01

Kansas City Soybeans: 8.85… +0.12

Kansas City Wheat: 5.06… +0.10

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Financial Markets:

Dow Jones Industrial Average: 27,346.92… +300.69

S & P 500: 3,066.91… +29.35

NASDAQ: 8,386.40… +94.04

U.S. Dollar Index: 97.19… -0.16