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Nov
13
2018

Texas Daily Ag Market News Summary

Posted 5 years 136 days ago by Administrator Account

Daily Market Summary for November 13th  

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 negotiated cash trade has been at a standstill in the Texas Panhandle and Northern Plains. In Kansas and the Western Cornbelt trading has been inactive on very light demand. Not enough trades for a market trend. 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 from 177.00-180.00.

 

Negotiated Sales:

Confirmed: 1,319    Week Ago: 2,332    Year Ago: 1,528

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 16,700
Weighted avg weight:        869.00
Weighted avg net price:    183.74

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales last week saw light trade develop with weighted average steer and heifer prices closing the week at 148.50 and 147.50 respectively. Prices are 1.00 higher than the previous week. All reported cash sales traded locally. Looking at the non-fed market butcher cows traded 1.00 lower through commercial auction facilities. Butcher cows traded established new annual lows.

 

Livestock Slaughter under Federal Inspection:                                  

                                  Cattle        Calves    Hogs         Sheep
Tuesday (est           119,000    2,000      478,000     9,000
Week ago (est)       119,000    2,000      477,000     9,000
Year ago (act)         119,000    2,000      468,000     9,000
Week to date (est) 230,000    4,000     919,000    16,000
Last Week (est)      238,000    4,000     953,000    17,000
Last Year (act)        237,000    4,000     933,000    17,000

 

Boxed Beef: 

Boxed beef cutout values lower on light to moderate demand and moderate offerings.  Select and Choice rib, loin, chuck, and round cuts steady to weak. Beef trimmings moderately lower on light demand and offerings.
  
Cutout Values...              Choice       Select
Current Cutout Values:    214.08     198.98
Change from prior day:      -1.47       -1.41
Choice/Select spread:       +15.10

 

Futures: 

Live Cattle…
December: 115.37… +0.45
February: 118.75… +0.75
April: 120.62… +0.45
Feeder Cattle…
November: 148.97… +0.60
January: 146.97… +3.25
March: 144.12… +2.40
  
CME Feeder Cattle Index: 149.89… -0.70
December Hog Futures: 57.30… +0.75
Nearby Crude Oil Futures Contract: 55.69… -4.24

 

National Grain Market Summary:

Compared to Friday, cash bids for corn and wheat were mixed, while soybeans and sorghum were lower.  USDA said 44.7 million bushels of corn were inspected for export last week, putting total inspections up 86% in 2018-19 from a year ago.  47.8 million bushels of soybeans were inspected for export last week, bringing the total to 364.1 million bushels. That is still down 42% from a year ago.  12.6 million bushels of wheat were inspected for export last week, putting total inspections down 21% from a year ago.
  
Kansas City Corn: 3.64…-0.01
Kansas City Soybeans: 8.44… -0.05
Kansas City Wheat: 4.96… -0.01
  
December Corn Futures: 3.6650… -0.0475
November Soybean Futures: 8.6725… -0.0450
December Wheat Futures: 5.0775… -0.1200

 

Financial Markets: 

Dow Jones Industrial Average: 25,286.49… -100.69
S & P 500: 2,722.01… -4.21
NASDAQ: 7,200.88… +0.01
U.S. Dollar Index: 97.19… -0.45

Cotton (www.ams.usda.gov): 

December Cotton Futures: 75.86… -0.52

Milk (www.cmegroup.com): 

November Class III Milk Futures: 14.53… +0.02






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