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Nov
06
2018

Texas Daily Ag Market News Summary

Posted 5 years 144 days ago by Administrator Account

Daily Market Summary for November 6th  

The Daily Market News Report bought to you by The Cattle Range. Please visit https://cattlerange.com/cattle-market-reports-analysis/daily-summary/ for more information!  


Slaughter Cattle:  

Tuesday trading was limited on very light demand. Not enough sales for an adequate market trend. Last week in the Southern Plains live cash trades were at 116.00. In the Nebraska, live cash traded from 114.00 to 116.00 and a few dressed trades were at 180.00. In Colorado, live trades ranged from 115.00 to 116.00. In the Western Cornbelt live cash trades were from 113.00 to 114.00 and a few dressed trades moved at 180.00.

Negotiated Sales:

Confirmed: 2,452    Week Ago: 1,477    Year Ago: 5,775

Formula Net - Dressed Steers & Heifers

Head count priced today: 20,600
Weighted avg weight:        870.00
Weighted avg net price:    182.09

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Monday saw no new trade to report. This week's showlist has been compiled with volumes larger than the previous week. Carcass weights tend to peak around this time of year. For the week ending October 27th western Canadian steer carcass weights averaged 931lbs, this is the largest carcass weights have been since October 2016. With cattle coming in this big, feedlot inventories are not overly that current.

Livestock Slaughter under Federal Inspection:                                  

                                  Cattle        Calves    Hogs          Sheep
Tuesday (est            119,000    2,000     477,000      9,000
Week ago (est)       117,000    2,000     465,000      8,000
Year ago (act)          117,000    2,000     456,000      9,000
Week to date (est) 238,000    4,000     953,000    17,000
Last Week (est)       234,000    4,000     931,000    14,000
Last Year (act)         234,000    4,000     919,000    17,000
 

Boxed Beef: 

Boxed beef cutout values steady on Choice and sharply higher on Select on moderate to good demand and moderate offerings. Choice chuck, round, and loin cuts steady to weak while Select steady to firm. Select and Choice rib cuts firm to higher. Beef trimmings unevenly steady on moderate demand and light to moderate offerings.
Cutout Values...              Choice       Select
Current Cutout Values:    218.76     204.66
Change from prior day:      +0.17       +2.31
Choice/Select spread:      +14.10
 

Futures: 

December Live Cattle Futures: 115.42… +0.10
February Live Cattle Futures: 120.40… -0.25
April Live Cattle Futures: 121.92… -0.38
November Feeder Cattle Futures: 149.97… +0.47
January Feeder Cattle Futures: 146.60… +0.18
March Feeder Cattle Futures: 145.40… -0.02
CME Feeder Cattle Index: 153.32… -0.23
December Hog Futures: 54.10… -3.00
Nearby Crude Oil Futures Contract: 62.21… -0.89

National Grain Market Summary:

Compared to yesterday, cash bids for corn and soybeans were mixed, wheat was mostly higher, while sorghum was lower.  USDA said late Monday that 76% of the corn is in and the states in the western Plains that are lagging have a mostly dry forecast for the next seven days with colder temperatures on the way.  83% of soybeans were harvested as of Sunday and, while that is closer to the finish line, many states are still behind their usual pace for this time of year.  It’s possible not all the winter wheat growers wanted to plant this fall may get planted.  Kansas, Oklahoma, and Texas are still behind their usual paces with 37% of Kansas' soybeans still in the field and colder temperatures on the way.
December Corn Futures: 3.7325… -0.0075
November Soybean Futures: 8.7200… -0.0100
December Wheat Futures: 5.1200… +0.0475
Kansas City Corn: 3.63… -0.01
Kansas City Soybeans: 8.31… -0.02
Kansas City Wheat: 5.18… +0.03

Financial Markets: 

Dow Jones Industrial Average: 25,635.28… +173.58
S & P 500: 2,755.50… +17.19
NASDAQ: 7,375.96… +47.11
U.S. Dollar Index: 96.29… -0.05


Cotton
(www.ams.usda.gov): 

December Cotton Futures: 77.43… -1.44


Milk
(www.cmegroup.com): 

November Class III Milk Futures: 14.52… -0.18







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