Mar 20 2019

Texas Daily Ag Market News Summary Posted 5 years 37 days ago by Administrator Account

Daily Market Summary for March 20th  

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 Wednesday, trade was mostly inactive on light demand in all major feeding regions. Not enough trades for a market trend. Last week in the Southern Plains and Colorado live cash trades moved at 127.00. For the prior week in Nebraska live cash trades move mostly at 127.00, with a few up to 128.00, and dressed cash trades moved at 204.00 on very light test. For the previous week in the Western Cornbelt live cash trades moved from 126.00-128.00 and dressed cash trades ranged from 203.00-206.00.

  

Negotiated Sales:

Confirmed: 241 --- Week Ago: 23,613 --- Year Ago: 33,620

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 11,300

Weighted avg weight:             821

Weighted avg net price:    206.37

   

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Tuesday saw new trade to report but there is a chance scattered trade could develop by this afternoon. Technical price levels have improved from the beginning of the week. On Friday Canfax released its March 1st cattle on feed report on Friday. February placement volumes were down over 5% compared to last year while fed cattle marketings were up 9%. March 1st cattle on feed inventories are larger than last year and the five-year average.

  

Livestock Slaughter under Federal Inspection:                                  

                                   Cattle       Calves    Hogs          Sheep

Wednesday (est     120,000    3,000       479,000      8,000

Week ago (est)       109,000    3,000       452,000      6,000

Year ago (act)          118,000    2,000      454,000      8,000

Week to date (est) 355,000    7,000   1,409,000    28,000

Last Week (est)       348,000    7,000   1,404,000    23,000

Last Year (act)         355,000    6,000   1,384,000    27,000

Previous Day (Estimated)     Steers & Heifers     Cows & Bulls

                            Tuesday            94,000                  26,000

 

Boxed Beef: 

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     228.67     218.63

Change from prior day:       -0.66        -0.83

Choice/Select spread:        10.04

Total Load Count (Cuts, Trimmings, Grinds): 100

 

Cutter Cow Cutout: 168.54… +0.30

 

CME Feeder Cattle Index: 137.41… -0.26

 

Futures

Live Cattle:

April: 129.57… +0.45

June: 123.37… +0.65

August: 119.32… +0.50

Feeder Cattle:

March: 142.25… Unchanged

April: 148.32… +0.52

May: 152.12… +1.60

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April Hogs: 73.82… +3.00

April Crude Oil: 59.83… +0.80

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May Corn: 3.7150… +0.0025

May Soybeans: 9.0600… +0.0200

May Wheat: 4.6475… +0.0825

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Grain Cash Bids:

Kansas City Corn: 3.68… Unchanged

Kansas City Soybeans: 8.66… +0.02

Kansas City Wheat: 4.42… +0.08

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Financial Markets:

Dow Jones Industrial Average: 25,887.38

S & P 500: 2,832.57

NASDAQ: 7,723.95

U.S. Dollar Index: 96.35

Cotton (www.ams.usda.gov): 

May Cotton Futures: 75.50… -0.15

Milk (www.cmegroup.com): 

March Class III Milk Futures: 14.94… +0.01