Nov 14 2019

Texas Daily Market News Summary Posted 4 years 165 days ago by Administrator Account

Daily Market Summary for November 14th

  

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Slaughter Cattle: 

As of 3:00 PM Thursday, in Nebraska negotiated cash trading and demand have been moderate. Thus far for the week live cash trades have moved mostly steady at 115.00, with a few up to 116.50. Compared to last week’s bulk, dressed cash trades moved 1.00 higher at 182.00. So far for Thursday in the Western Cornbelt negotiated cash trading has been slow on light demand. Thus far for the week live cash trades moved unevenly steady from 114.00 to 116.00, with the bulk at 115.00, and dressed cash trades, on a light test, have moved steady to 1.00 higher at 182.00. Thus far for Thursday in the Southern Plains negotiated cash trading has been at a standstill. Wednesday was the last reported live cash market with live cash trades at 115.00.

    

Negotiated Sales:

Confirmed: 17,160 --- Week Ago: 16,740 --- Year Ago: 2,535

  

Formula Net - Dressed Steers & Heifers:

Head count priced today: 29,800

Weighted avg weight:             894

Weighted avg net price:    184.33

           

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle Wednesday saw no new trade to report, dressed bids have been reported at 242.00 delivered. Bids are 1.00 higher than the previous week. Buying interest has been noted from all three western Canadian packers.  With larger non-fed volumes through commercial auction facilities, this could take some hook space away from A grade cattle. Processing margins are positive, and packers are seeing good value in the cattle. Seasonally we should start to see a leverage shift, as the cattle feeder should be gaining leverage over the packer. 

      

Livestock Slaughter under Federal Inspection:              

                                   Cattle       Calves    Hogs         Sheep

Thursday (est)        118,000    2,000      488,000      7,000

Week ago (est)       118,000    2,000      491,000      7,000

Year ago (act)          122,000    2,000      476,000      9,000

Week to date (est)  467,000    9,000   1,916,000    31,000

Last Week (est)       470,000    8,000   1,965,000    31,000

Last Year (act)         473,000    9,000   1,880,000    33,000

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

                   Wednesday           91,000                     27,000

                                                                                                 

Boxed Beef:

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     241.06     215.84

Change from prior day:        -1.28       -1.69

Choice/Select spread:          25.22

Total Load Count (Cuts, Trimmings, Grinds): 139

  

Cutter Cow Cutout: 184.59… +1.77

 

CME Feeder Cattle Index: 147.44… Not updated

 

CME Lean Hog Index: 59.55… Not updated

 

Futures…

Live Cattle:

December: 119.07… +0.97

February: 124.92… +0.82

April: 126.10… +0.43

Feeder Cattle:

November: 146.62… +1.05

January: 144.05… +1.23

March: 144.07… +0.75

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December Hogs: 62.75… -0.37

December Crude Oil: 56.77… -0.35

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December Corn: 3.7575… +0.0050

January Soybeans: 9.1675… +0.0150

December Wheat: 5.0775… -0.0125

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Grain Cash Bids:

Kansas City Corn: 3.82… +0.02

Kansas City Soybeans: 8.77… +0.07

Kansas City Wheat: 4.98… -0.01

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Financial Markets:

Dow Jones Industrial Average: 27,782.24… -1.35

S & P 500: 3,096.66… +2.63

NASDAQ: 8,479.02… -3.08

U.S. Dollar Index: 98.18… -0.19