Nov 08 2019

Texas Daily Ag Market News Summary Posted 4 years 163 days ago by Administrator Account

Daily Market Summary for November 8th

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

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Slaughter Cattle:

As of 3:00 PM Friday, trade was moderate on moderate to good demand in Kansas, Nebraska and the Western Cornbelt. In Kansas compared to last week, live purchases traded mostly 2.00 higher from 114.00-115.00, bulk at 114.00. In Nebraska compared to last week, live purchases traded unevenly steady from 114.00-116.00. A few dressed purchases were reported in Nebraska at 181.00, however not enough for an adequate market test. On Thursday dressed purchases in Nebraska traded from 181.00-182. 00. In the Western Cornbelt compared to Thursday live pruchases traded steady from 114.00-115.00 with a few up to 117.00. A few dressed purchases traded from 180.00-185.00, however not enough for an adequate market test. On Thursday dressed purchases ranged from 181.00-182.00. Trade was moderate on light to moderate demand in the Texas Panhandle. Compared to last week, live purchases traded mostly 3.00 higher from 114.00-115.00, bulk at 115.00.

   

Negotiated Sales:

Confirmed: 52,597 --- Week Ago: 30,170 --- Year Ago: 60,020

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 16,700

Weighted avg weight:            850

Weighted avg net price:    179.19

          

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales Thursday saw light trade develop with dressed sales ranging from 237.00-241.00 delivered. Sales are steady to 3.00 higher than the previous week. Some cattle that traded this week would not be picked up until the first and second week in December. Cash to futures basis levels did weaken, basis levels are at their weakest point since March. Some cattle will be carried over into next week.

     

Livestock Slaughter under Federal Inspection:                                 

                                   Cattle       Calves    Hogs         Sheep

Friday (est)              117,000     2,000      484,000      7,000

Week ago (est)        118,000     2,000      486,000      6,000

Year ago (act)          115,000     3,000      474,000      7,000

Week to date (est)   587,000   10,000   2,449,000    38,000

Last Week (est)       584,000   10,000   2,431,000    39,000

Last Year (act)         595,000   13,000   2,369,000    42,000

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

                         Thursday           91,000                    27,000

                                                                                          

Boxed Beef:

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     239.12     213.86

Change from prior day:      +0.83       +0.24

Choice/Select spread:        25.86

Total Load Count (Cuts, Trimmings, Grinds): 121

 

Cutter Cow Cutout: 182.49… +3.95

 

CME Feeder Cattle Index: 145.85… -0.24

 

Futures…

Live Cattle:

December: 119.25… +0.25

February: 125.02… +0.17

April: 126.10… +0.25

Feeder Cattle:

November: 147.00… +0.23

January: 145.87… +0.10

March: 145.50… Unchanged

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December Hogs: 64.12… -0.18

December Crude Oil: 57.24… +0.09

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December Corn: 3.7725… +0.0200

January Soybeans: 9.3100… -0.0550

December Wheat: 5.1025… -0.0225

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Grain Cash Bids:

Kansas City Corn: 3.80… +0.02

Kansas City Soybeans: 8.86… -0.03

Kansas City Wheat: 5.00… -0.03

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Financial Markets:

Dow Jones Industrial Average: 27,681.24… +6.44

S & P 500: 3,093.05… +7.87

NASDAQ: 8,475.31… +40.79

U.S. Dollar Index: 98.37… +0.21