Nov 26 2018

Texas Daily Ag Market News Summary Posted 5 years 145 days ago by Administrator Account

Daily Market Summary for November 26th  

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:  

Monday trading in the Southern and Northern Plains has been at a standstill. In the Western Cornbelt trading has been inactive on very light demand. Not enough trades for a market trend. Last week in the Texas Panhandle saw live cash trades from 116.50-117.00, mostly at 117.00. In Kansas live cash trades moved from 116.00-117.00. For the prior week in Nebraska live cash trades moved from 116.00-117.00, mostly at 116.00. Dressed cash trades moved from 18.00-185.00, mostly at 185.00. For the previous week in the Western Cornbelt live cash trades were mostly from 113.00-114.00 and dressed cash trades mostly at 180.00 with a few up to 185.00.

 

Negotiated Sales:

Confirmed: 378    Week Ago: 117    Year Ago: none

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 45,800

Weighted avg weight:       850.00

Weighted avg net price:    182.21

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales last week saw moderate volume trade with prices trending fully steady with the previous week. A handful of live trade was reported at $148.50 and dressed sales ranged from $248.00-251.00 delivered. A significant portion of last week’s showlist has been carried over and market ready supplies are trending more current.

 

Livestock Slaughter under Federal Inspection:                                  

                                   Cattle        Calves   Hogs          Sheep

Monday (est)           115,000    2,000     452,000     8,000

Week ago (est)        119,000    2,000     479,000     8,000

Year ago (act)          116,000    2,000     447,000     8,000

 

Boxed Beef: 

Boxed beef cutout values firm to higher on moderate to fairly good demand and light offerings. Select and Choice chuck and round cuts steady to firm while loin cuts steady to weak. Choice rib cuts steady while Select higher. Beef trimmings not fully established.

---

Cutout Values...              Choice       Select

Current Cutout Values:    214.45     199.79

Change from prior day:      +0.60       +1.28

Choice/Select spread:       +14.66

 

Live Cattle Futures:

December: 116.92… -0.18

February: 120.65… -0.27

April: 122.87… -0.28

Feeder Cattle Futures:

January: 149.15… -0.22

March: 146.15… +0.23

April: 146.47… +0.22

---

CME Feeder Cattle Index: 149.86… +1.59

December Hog Futures: 57.40… -1.67

Nearby Crude Oil Futures Contract: 51.63… +1.21

 

National Grain Market Summary:

Compared to last Wednesday, cash bids for wheat and corn was mixed while soybeans and sorghum was lower.  Winter storm Bruce wreaked havoc on travel through the Plains on Sunday and Monday.  Corn and soybean harvest are at 94 percent complete; with corn being 2 percent behind and soybeans 4 percent behind the previous five year averages.

 ---

Kansas City Corn: 3.56… -0.06

Kansas City Soybeans: 8.29… -0.21

Kansas City Wheat: 4.75… -0.04

 ---

December Corn Futures: 3.5600… -0.0300

November Soybean Futures: 8.6225… -0.1875

December Wheat Futures: 5.0750… +0.0775

 

Financial Markets: 

Dow Jones Industrial Average: 24,640.24… +354.29

S & P 500: 2,673.45… +40.89

NASDAQ: 7,081.85… +142.87

U.S. Dollar Index: 97.05… +0.11

Cotton (www.ams.usda.gov): 

December Cotton Futures: 76.75… +1.83

Milk (www.cmegroup.com): 

November Class III Milk Futures: 14.48… +/-0.00