Nov 14 2018

Texas Daily Ag Market News Summary Posted 5 years 156 days ago by Administrator Account

Daily Market Summary for November 14th  

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! 

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Slaughter Cattle:  

Wednesday negotiated cash trade was limited on light to moderate in the Western Cornbelt, with a few early live purchases at 110.00, however not enough for an adequate market test. Trade was mostly inactive on light demand in all other feeding regions. The latest established market in any feeding region was last week. Live purchases in the Southern Plains traded mostly at 114.00, with a few at 115.00. In Nebraska live purchases traded from 113-114.50, bulk at 114.00 with dressed purchases mostly at 180.00. In Colorado, live purchases traded at 114.00. In the Western Cornbelt, live purchases traded mostly from 111.00-113.00 with dressed purchases from177.00-180.00.

  

Negotiated Sales:

Confirmed: 5,557    Week Ago: 2,418    Year Ago: 52,486

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 14,500

Weighted avg weight:       876.00

Weighted avg net price:    185.86

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales last week no new trade to report but there is a chance scattered trade could develop by this afternoon. Technical price levels are unchanged from Monday. Showlist volumes are smaller than the previous week. Last week on a cash to cash basis Alberta fed prices were at a 0.50 discount against the Nebraska market.

 

Livestock Slaughter under Federal Inspection:                                  

                                  Cattle        Calves    Hogs         Sheep

Wednesday (est     118,000    2,000      478,000      8,000

Week ago (est)       119,000    2,000      472,000      7,000

Year ago (act)          120,000    2,000      465,000      7,000

Week to date (est) 348,000    6,000   1,397,000    24,000

Last Week (est)       357,000    6,000   1,425,000    24,000

Last Year (act)          357,000    6,000   1,398,000    24,000

 

Boxed Beef: 

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

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Cutout Values...              Choice       Select

Current Cutout Values:    213.16     197.18

Change from prior day:       -0.92        -1.80

Choice/Select spread:       +15.98

 

Futures: 

Live Cattle…

December: 114.60… -0.77

February: 118.60… -0.15

April: 120.57… -0.05

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Feeder Cattle…

November: 148.97… Unchanged

January: 146.97… Unchanged

March: 143.80… -0.32

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CME Feeder Cattle Index: 149.38… -0.51

December Hog Futures: 57.00… -0.30

Nearby Crude Oil Futures Contract: 56.25… +0.56

 

National Grain Market Summary:

Compared to last week, cash bids for wheat were lower, corn, soybeans, and sorghum were higher.  Harvest numbers from USDA put corn at 84% harvested and soybeans at 88% harvested, both lower compared to the five year average.

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Kansas City Corn: 3.65… +0.01

Kansas City Soybeans: 8.49… +0.05

Kansas City Wheat: 4.91… -0.05

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December Corn Futures: 3.6700… +0.0050

November Soybean Futures: 8.7050… +0.0325

December Wheat Futures: 5.0300… -0.0475

 

Financial Markets: 

Dow Jones Industrial Average: 25,080.50… -205.99

S & P 500: 2,701.58… -20.60

NASDAQ: 7,136.39… -64.49

U.S. Dollar Index: 96.96… Unchanged

Cotton (www.ams.usda.gov): 

December Cotton Futures: 76.39… +0.53

Milk (www.cmegroup.com): 

November Class III Milk Futures: 14.57… +0.04