Nov 21 2019

Texas Daily Market News Summary Posted 4 years 155 days ago by Administrator Account

Daily Market Summary for November 21st

The Daily Market News Report is brought to you by The Cattle Range. 

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Slaughter Cattle:

As of 3:00 PM Thursday, negotiated cash trade was light on moderate demand in Nebraska and the Western Cornbelt. However not enough purchases for an adequate market test. Trade was inactive on light demand in the Southern Plains. The latest established market in any feeding region was on Wednesday, with live purchases in the Southern Plains at 116.00. On Wednesday, in Nebraska live purchases traded from 115.00-117.00 with dressed purchases at 184.00. In the Western Cornbelt on Wednesday, live purchases traded from 115.00-117.00, bulk from 115.00-116.00 with dressed purchases at 184.00.

    

Negotiated Sales:

Confirmed: 10,073

Week Ago:  17,160

Year Ago: None

  

Formula Net

Dressed Steers & Heifers:

Head count priced today: 23,500

Weighted avg weight:       904.00

Weighted avg net price:   185.25

           

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales Wednesday saw no new trade to report. Dressed bids have been reported 245.00-247.00 delivered. Bids are 2.00-5.00 higher than the previous week. There have rumblings US buyers are once again looking for cattle. Canfax released the November 1st cattle on feed report last Friday. Placements and marketings for the month of October were up over 20% compared to last year. November 1st cattle on feed inventories are larger than last year and larger than the five-year average.  

         

Cattle Slaughter under Federal Inspection:

Thursday (est)         118,000   

Week ago (est)       118,000

Year ago (act)             2,000

Week to date (est)  471,000

Last Week (est)       467,000

Last Year (act)         365,000

Previous Day (est)

Steers & Heifers: 90,000

Cows & Bulls: 27,000

                                                                                                               

Boxed Beef:

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

     

Cutout Values:

Choice: 234.86… -3.35

Select:  213.86… -0.91

C/S Spread: 21.00

Total Load Count:  127

  

Cutter Cow Cutout:

185.67… -0.41

  

CME Feeder Cattle Index:

146.62

     

Futures…

Live Cattle:

Dec: 119.32… +0.02

Feb: 125.05… -0.42

April: 125.77… -0.48

Feeder Cattle:

Nov: 145.52… -1.08

Jan: 142.60… -1.47

Mar: 142.80… -1.35

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Dec Hogs: 60.65… +0.20

Dec Crude Oil: 58.58… +1.57

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Dec Corn: 3.6850… +0.0175

Jan Soybeans: 9.0100… -0.0400

Dec Wheat: 5.0900… -0.0650

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Grain Cash Bids:

Kansas City Corn: 3.75… +0.02

Kansas City Soybeans: 8.69… -0.04

Kansas City Wheat: 4.99… -0.07

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Financial Markets:

Dow Jones: 27,766.02… -55.07

S & P 500: 3,103.47… -4.99

NASDAQ: 8,506.21… -20.52

U.S. Dollar Index: 98.00… +0.07