Texas Daily Ag Market News Summary

Fed Cattle:

As of 3:00 PM Thursday in the Texas Panhandle, Nebraska and the Western Cornbelt, negotiated cash trade has been slow on light to moderate demand, however not enough trade for a market test. In Kansas negotiated cash trade has been active on good demand. Compared to last week in Kansas live FOB purchases traded 1.00 higher at 187.00, with a few purchases that traded up to 182.00. Last week in the Texas Panhandle live FOB purchases traded at 186.00. There have been a few early live FOB purchases at 192.00, in Nebraska and the Western Cornbelt, however not enough purchases for a market test. Last week in Nebraska live FOB purchases at 190.00, dressed delivered purchases traded from 298.00-300.00. Last week in in the Western Cornbelt live FOB purchases at 190.00, with a few up to 191.00, dressed delivered purchases traded at 300.00, with a few up to 306.00.

Negotiated Sales:

Confirmed:     10,519

Week Ago:        1,591

Year Ago:        39,439

Formula Net - Dressed Steers & Heifers:

Head count priced today:   26,100

Weighted avg. weight:         883.00

Weighted avg. net price:     298.89

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Cattle Slaughter under Federal Inspection

Thursday            122,000

Week Ago           124,000

Year Ago             124,230

Week to Date     486,000

Last Week           487,000

Last Year             499,531

Wednesday

Steers & Heifers:   98,000

Cows & Bulls:         24,000

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Boxed Beef:

Cutout Values:

Choice: 309.84… -2.33

Select:  300.08… +0.47

Choice/Select Spread: 9.75

Total Load Count: 114

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Cutter Cow Cutout:

275.44… +1.62

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CME Feeder Cattle Index for May 22nd:

248.81… +0.37 / +0.15%

1 Year Change: +20.34%

52 Week Range: 206.76 to 254.09

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Futures Settlements:

Live Cattle:

June: 183.52… -0.65

August: 181.07… -0.60

Oct: 184.07… -0.58

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Feeder Cattle:

May: 250.32… -0.05

August: 261.45… -1.45

September: 262.72… -1.03

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June Lean Hogs: 94.52… -0.88

June Crude Oil: 76.82… -0.75

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July Corn: 4.6400… +0.0275

July Wheat: 6.9800… +0.0500

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Grain Cash Bids:

Omaha Corn: 4.69… +0.03

Kansas City Wheat: 6.56… +0.11

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Financial Markets:

DJIA: 39,065.39… -606.11

S & P 500: 5,267.90… -39.09

NASDAQ: 16,736.03… -65.51

U.S. Dollar Index: 105.07… -0.14