Nov 04 2019

Texas Daily Market News Summary Posted 4 years 167 days ago by Administrator Account

Daily Market Summary for November 4th

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

---

Slaughter Cattle:

As of 3:00 PM Monday, negotiated cash trade was very limited on light to moderate demand in Nebraska and Western Cornbelt. Not enough purchases for an adequate market test. Trade was inactive on light demand in all other feeding regions. The latest established market in any feeding region was last week with live purchases in the Southern Plains at 112.00. Last week in Nebraska, live purchases traded mostly at 115.00 with dressed purchases mostly at 180.00. In the Western Cornbelt last week, live purchases traded mostly from 113.00-114.00 with dressed purchases mostly at 180.00.

    

Negotiated Sales:

Confirmed: 4,359 --- Week Ago: 105 --- Year Ago: 1,729

  

Formula Net - Dressed Steers & Heifers

Head count priced today: 46,600

Weighted avg weight:             875

Weighted avg net price:    176.21

           

Alberta Beef Producers Daily Report: Alberta CA

Alberta direct cattle sales last week saw light trade develop with weighted average steer and heifer prices closing the week just over 142.00. Prices are 0.50 higher than the previous week. US buying interest was noted last week and light volumes of western Canadian fed cattle traded South. Sales to the US were at a slight premium over local deals. Looking at the non-fed market butcher cows and bulls traded 1.00-2.00 lower through commercial facilities last week. Western Canadian cow slaughter for the week ending October 26th totaled just over 7,700 head, 5% lower than last year.  

  

Livestock Slaughter under Federal Inspection:                                  

                               Cattle         Calves     Hogs         Sheep

Monday (est)        115,000      2,000     491,000     9,000

Week ago (est)     118,000      2,000     491,000     9,000

Year ago (act)       121,000      2,000     477,000     9,000

Previous Day Estimated   Steers & Heifers --- Cows & Bulls 

                            Friday            93,000                   25,000

                        Saturday           60,000                    14,000

                                                                                      

Boxed Beef: 

Boxed beef cutout values higher to sharply higher on good demand and moderate offerings. Choice round and loin cuts steady to firm while chuck cuts higher. Choice rib cuts lower. Select rib and round cuts steady while chuck and loin cuts higher. Beef trimmings moderately to sharply higher on good demand and moderate offerings.

 

Cutout Values...                 Choice     Select

Current Cutout Values:     234.81     210.38

Change from prior day:     +1.61       +2.87

Choice/Select spread:       24.43

Total Load Count (Cuts, Trimmings, Grinds): 81

  

Cutter Cow Cutout: 178.84… -4.02

  

CME Feeder Cattle Index: 146.45… +0.47

  

Futures…

Live Cattle:

December: 120.07… +0.55

February: 124.60… +0.38

April: 125.57… +0.12

Feeder Cattle:

November: 149.07… -0.05

January: 146.00… Unchanged

March: 145.30… +0.18

---

December Hogs: 64.52… +0.07

December Crude Oil: 56.54… +0.34

---

December Corn: 3.8325… -0.0600

December Soybeans: 9.2575… +0.0150

December Wheat: 5.0975… -0.0625

---

Grain Cash Bids:

Kansas City Corn: 3.90

Kansas City Soybeans: 8.85

Kansas City Wheat: 5.06

---

Financial Markets:

Dow Jones Industrial Average: 27,462.52… +115.16

S & P 500: 3,078.32… +11.41

NASDAQ: 8,433.20… +46.80

U.S. Dollar Index: 97.55… +0.31