Feb 26 2019

Texas Daily Ag Market News Summary Posted 5 years 54 days ago by Administrator Account

Daily Market Summary for February 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:  

As of 3:00 PM Tuesday, trade was mostly inactive on light demand in all major feeding regions. Not enough purchases for a market trend. Last week in Kansas live purchases traded at 126.00 on a light test. For the prior week in the Northern Plains, live purchases traded mostly at 126.50 with dressed purchases in Nebraska at 202.00. For the previous week in the Western Cornbelt, live purchases traded from 124.50-128.00 with dressed purchases at 202.00. The latest established market in the Texas Panhandle was two weeks with live purchases at 125.00.

 

Negotiated Sales:

Confirmed: 514 --- Week Ago: 382 --- Year Ago: 234

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 23,100

Weighted avg weight:             850

Weighted avg net price:    199.76

   

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Monday saw no new trade to report. This weeks showlist has been compiled with volumes larger than the previous week. Last week on a cash to cash basis Alberta fed prices traded at an 18.00 discount against the Nebraska market. Western Canadian fed slaughter volumes for the week ending February 9th totaled just over 36,000 head. volumes are 15% larger than the same week last year. The year is still young however this is the largest weekly slaughter volume seen this year.

  

Livestock Slaughter under Federal Inspection:                                  

                                  Cattle       Calves     Hogs          Sheep

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

Week ago (est)       114,000    2,000     476,000       9,000

Year ago (act)         118,000    2,000     445,000       8,000

Week to date (est)  232,000    4,000     839,000    16,000

Last Week (est)       214,000    4,000     952,000    16,000

Last Year (act)         234,000    4,000     909,000    16,000

Previous Day (Estimated)     Steers & Heifers     Cows & Bulls

                            Monday             91,000                   23,000

 

Boxed Beef: 

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

Cutout Values...                 Choice     Select

Current Cutout Values:     219.67     213.73

Change from prior day:       +0.12        -0.84

Choice/Select spread:           5.94

Total Load Count (Cuts, Trimmings, Grinds):  134

 

Cutter Cow Cutout: 165.35… -0.49

 

CME Feeder Cattle Index: 140.33… -0.09

 

Futures

Live Cattle:

February: 129.57… +1.02

April: 129.92… +0.70

June: 120.05… +0.45

Feeder Cattle:

March: 143.45… +0.95

April: 146.77… +1.12

May: 147.90… +0.88

---

April Hogs: 55.72… +1.82

April Crude Oil: 55.50… +0.02

---

March Corn: 3.6625… -0.0425

March Soybeans: 9.0375… -0.0800

March Wheat: 4.6025… -0.0650

---

Grain Cash Bids:

Kansas City Corn: 3.64… -0.04

Kansas City Soybeans: 8.65… -0.08

Kansas City Wheat: 4.35… -0.07

---

Financial Markets:

Dow Jones Industrial Average: 26,057.98… -33.97

S & P 500: 2,793.90… -2.21

NASDAQ: 7,549.30… -5.16

U.S. Dollar Index: 96.05… -0.37

Cotton (www.ams.usda.gov): 

March Cotton Futures: 70.85… -1.08

Milk (www.cmegroup.com): 

February Class III Milk Futures: 13.94… -0.01