Nov 07 2019

Texas Daily Market News Summary for 11/7/19 Posted 4 years 165 days ago by Administrator Account

Daily Market Summary for November 7th

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Slaughter Cattle:

As of 3:00 PM Thursday, negotiated cash trade was light to moderate on moderate demand. Compared to last week in Nebraska, dressed purchases traded 1.00-2.00 higher from 181.00-182.00. Trade was light on light to moderate demand in the Western Cornbelt with a few purchases at 114.00 and from 181.00-182.00, however not enough purchases for and adequate market test. Trade was mostly inactive on light demand in the Southern Plains. The latest established market in the Southern Plains was last week with live purchases at 112.00. Last week in Nebraska, live purchases traded mostly at 115.00. In the Western Cornbelt last week, live purchases traded mostly from 113.00-114.00 with dressed purchases mostly at 180.00.

    

Negotiated Sales:

Confirmed: 16,740 --- Week Ago: 4,931 --- Year Ago: 4,269

  

Formula Net - Dressed Steers & Heifers

Head count priced today: 23,900

Weighted avg weight:             882

Weighted avg net price:    182.19

           

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales Wednesday saw no new trade to report, dressed bids have been reported from 238.00-240.00 delivered. Bids are 2.00-4.00 higher than the previous week. Live bids have been reported at 140.50, bids are 1.50 lower than last week's weighted average price. US buying interest does not seem to be quite as aggressive as it was last week. Packers have bought very few cattle and may to increase bids to motivate sellers.

  

Livestock Slaughter under Federal Inspection:                                  

                                   Cattle       Calves    Hogs         Sheep

Thursday (est)         118,000     2,000      491,000      7,000

Week ago (est)        118,000     2,000      490,000      8,000

Year ago (act)          117,000     2,000      471,000      8,000

Week to date (est)   470,000     8,000   1,965,000    31,000

Last Week (est)       466,000     8,000   1,945,000    33,000

Last Year (act)         480,000   10,000   1,895,000    34,000

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

                   Wednesday           91,000                    27,000

                                                                                           

Boxed Beef: 

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     238.29     213.02

Change from prior day:      +1.15      +1.49

Choice/Select spread:        25.27

Total Load Count (Cuts, Trimmings, Grinds): 117

  

Cutter Cow Cutout: 178.54… +0.34

  

CME Feeder Cattle Index: 146.09… -0.17

  

Futures…

Live Cattle:

December: 119.00… Unchanged

February: 124.85… +0.15

April: 125.85… +0.30

Feeder Cattle:

November: 146.77… -0.03

January: 145.77… +1.35

March: 145.50… +1.53

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December Hogs: 64.30… -0.47

December Crude Oil: 57.15… +0.80

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December Corn: 3.7525… -0.0350

January Soybeans: 9.3650… +0.0900

December Wheat: 5.1250… -0.0425

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Grain Cash Bids:

Kansas City Corn: 3.78… -0.04

Kansas City Soybeans: 8.89… +0.09

Kansas City Wheat: 5.03… -0.04

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Financial Markets:

Dow Jones Industrial Average: 27,675.00… +182.44

S & P 500: 3,085.25… +8.48

NASDAQ: 8,434.52… +23.89

U.S. Dollar Index: 98.16… +0.21