Feb 05 2019

Texas Daily Ag Market News Summary Posted 5 years 74 days ago by Administrator Account

Daily Market Summary for February 5th  

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:  

As of 3:00 PM Tuesday, negotiated cash trade was mostly inactive on light demand in all feeding regions. The latest established market in any feeding region was last week, with live purchases in the Southern Plains and Nebraska at 124.00. Dressed purchases in Nebraska last week ranged from 198.00-199.00, bulk at 198.00. In the Western Cornbelt, last week live purchases traded from 123.00-126.00 with dressed purchases from 197.00-200.00.

 

Negotiated Sales:

Confirmed: 236    Week Ago: 16    Year Ago: 156

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 25,700

Weighted avg weight:       856.00

Weighted avg net price:    196.88

 

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. Last week on a cash to cash basis Alberta fed prices were at 7.00 discount against the Nebraska market. Based on the five-year historical average cash to cash and cash to futures basis levels weaken from January to February. For the first five weeks of this year fed cattle prices have been tracking right in-line with prices seen in 2017.

 

Livestock Slaughter under Federal Inspection:                                  

                                  Cattle        Calves    Hogs         Sheep

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

Week ago (est)         119,000    2,000     466,000     8,000

Year ago (act)           117,000    2,000     462,000     9,000

Week to date (est)    236,000    4,000     950,000    16,000

Last Week (est)        237,000    4,000     936,000    14,000

Last Year (act)          229,000    4,000     923,000    17,000

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

                               Monday         96,000               22,000

 

Boxed Beef: 

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

Cutout Values...                 Choice     Select

Current Cutout Values:     217.02     213.10

Change from prior day:        -0.63        -0.31

Choice/Select spread:            3.92

Total Load Count (Cuts, Trimmings, Grinds): 127

 

Cutter Cow Cutout: 161.44… +0.06

 

CME Feeder Cattle Index: 141.54… +0.53

 

Futures

Live Cattle:

February: 126.70… +0.98

April: 127.62… +0.62

June: 117.40… +0.40

Feeder Cattle:

March: 143.82… -0.40

April: 145.45… -0.37

May: 146.05… -0.32

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February Hogs: 56.42… -0.95

March Crude Oil: 53.66... -0.90

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March Corn: 3.8075… +0.0150

March Soybeans: 9.2025… +0.0175

March Wheat: 5.2725… +0.0150

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Grain Cash Bids:

Kansas City Corn: 3.72… +0.01

Kansas City Soybeans: 8.66… +0.01

Kansas City Wheat: 5.01… +0.01

 

Financial Markets:

Dow Jones Industrial Average: 25,411.52… +172.15

S & P 500: 2,737.70… +12.83

NASDAQ: 7,402.08… +54.54

U.S. Dollar Index: 96.04… +0.20

Cotton (www.ams.usda.gov): 

March Cotton Futures: 73.40… +0.64

Milk (www.cmegroup.com): 

February Class III Milk Futures: 13.93… -0.01