Texas Daily Ag Market News Summary

Slaughter Cattle: Thursday trade was mostly inactive on light demand most feeding regions. The latest established market in the Southern Plains was on Tuesday with live purchases at 126.00. On Wednesday in Nebraska, live purchases ranged from 125.00-126.50, bulk at 126.00. Dressed purchases traded from 200.00-203.00. In Colorado on Wednesday, a light test of live purchases traded at 126.00, with a few up to 126.50. On Wednesday in the Western Cornbelt, the bulk of live purchases traded from 126.000-128.00 with a few up to 130.00. Dressed purchases traded from 200.00-203.00.

Negotiated Sales: Confirmed: 2,098   Week Ago: 17,737   Year Ago: 18,701

Formula Purchases: Net - Dressed 
Head count priced today: 23,100 
Weighted avg weight:       866.00 
Weighted avg net price:   202.98

Alberta Beef Producers Daily Report: Alberta direct cattle sales Wednesday saw light trade develop with live sales ranging from 161.00-162.50. Initial sales are 3.00-4.00 lower than last week's weighted average. Dressed bids have been reported at 272.00 delivered and are 4.00-6.00 lower than last week. US packer interest has been reported but no sales have been confirmed. It should be noted a lot of cattle have been marketed over the past three weeks and pressure to move cattle has been limited this week.

Livestock Slaughter under Federal Inspection: 
                             Cattle      Calves   Hogs         Sheep 
Thursday  (est       119,000    2,000      461,000      8,000 
Week ago (est)      118,000    2,000      461,000      9,000 
Year ago (act)        116,000    2,000      443,000     8,000 
Week to date (est) 473,000    8,000   1,839,000    33,000 
Last Week (est)     466,000    8,000   1,845,000    31,000 
Last Year (act)       466,000    8,000   1,775,000    33,000

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

Cutout Values...            Choice        Select 
Current Cutout Values:    225.21         218.02 
Change from prior day:      +0.83          +1.63 
Choice/Select spread:         7.19

Futures Summary: 

April Live Cattle Futures: 118.15...+0.45

June Live Cattle Futures: 108.40...+1.03

August Live Cattle Futures: 106.37...+1.10

March Feeder Cattle Futures: 137.52...+0.75

April Feeder Cattle Futures: 138.02...+1.80

May Feeder Cattle Futures: 138.52...+1.57

CME Feeder Cattle Index: 139.39...-1.56

April Lean Hog Futures: 61.32...-1.25

National Grain Market Summary: Compared to yesterday, cash bids for wheat and sorghum were higher, while corn and soybeans were mixed.   Futures trading was on both sides of steady for much of the trading session as the market lacked a direction today.  Traders are shoring up positions in anticipation of the acreage intention report and quarterly stocks reports due out next week and they could very well set the tone of the market through April.

Kansas City Corn: 3.60...+0.01

Kansas City Soybeans: 9.87...Unchanged

Kansas City Wheat: 4.61...+0.05

May Corn Futures: 3.7600...+0.0100

May Soybean Futures: 10.2975...Unchanged

May Wheat Futures: 4.5575...+0.0225