Texas Daily Ag Market News Summary

Slaughter Cattle:  Monday trading in the Southern and Northern Plains have been at a standstill. In the 
Western Cornbelt trading has been inactive on very light demand. Not enough trades for a market trend. Last week in the Texas Panhandle live cash trades were from 117.00-118.00. In Kansas live cash trades were mostly at 118.00. For the prior week in Nebraska live cash trades were from 114.00-119.00 and dressed trades were from 184.00-190.00. In Colorado last week a very light test of live cash trades were at 119.50. In the Western Cornbelt for the previous week saw live cash trades from 116.00-120.00 and dressed trades mostly at 188.00. 
 

Negotiated Sales: Confirmed: 272   Week Ago: 293   Year Ago: 136 
 

Formula Purchases: Net - Dressed 
Head count priced today: 41,500 
Weighted avg weight:       844.00 
Weighted avg net price:   193.49

Alberta Beef Producers Daily Report: Alberta direct cattle sales last week saw light trade develop with weighted average steer and heifer prices closing the week at 155.75 and 154.00 respectively. Prices were 4.00-5.00 lower than the previous week. New annual lows were established. From their January highs fed prices have dropped 7%. Last week all reported cash sales traded locally. Looking at the non-fed market D1, D2 cows have been averaging in the low 90's for the past three weeks. Seasonally non-fed prices should continue to strengthen. 

Livestock Slaughter under Federal Inspection: 
                          Cattle      Calves   Hogs        Sheep 
Monday  (est     118,000    2,000     457,000     7,000 
Week ago (est) 102,000    2,000     318,000     7,000 
Year ago (act)   114,000    2,000     447,000    11,000

Boxed Beef: Boxed beef cutout values firm on Choice and sharply lower on Select on light to moderate demand and offerings. Choice rib, chuck, round, and loin cuts steady to firm while Select weak. Beef trimmings not fully established.

Cutout Values...            Choice        Select 
Current Cutout Values:    215.04         203.14 
Change from prior day:      +0.73           -2.46 
Choice/Select spread:        11.90

Futures Summary: 

April Live Cattle Futures: 112.02...-0.20

June Live Cattle Futures: 102.50...+0.18

August Live Cattle Futures: 102.75...-0.02

April Feeder Cattle Futures: 134.45...-0.87

May Feeder Cattle Futures: 135.52...-0.10

Aug Feeder Cattle Futures: 141.05...-0.40

CME Feeder Cattle Index: 134.92...-0.92

May Lean Hog Futures: 67.32...+2.85

National Grain Market Summary:  Compared to Friday, cash bids for grains were higher.  Soybean markets were able gain some ground today despite ongoing trade tension between China and the US. Chicago, Kansas City, and Minneapolis wheat were also able to trade higher today, fueled by snow storms over the weekend in the Northern Plains and dry conditions in the Southern Plains.  Last week’s export inspections totaled 76.3 million bushels of corn, 13.7 million bushels of soybeans, and 15.8 million bushels of wheat.  All export inspections could be viewed as bearish.

Kansas City Corn: 3.77...+0.02

Kansas City Soybeans: 10.13...+0.13

Kansas City Wheat: 5.13...+0.16

May Corn Futures: 3.9075...+0.0225

May Soybean Futures: 10.4700...+0.1325

May Wheat Futures: 4.9075...+0.1850

Nearby Crude Oil Futures Contract: 63.42...+1.36

Dow Jones Industrial Average: 23,979.10...+46.34

NASDAQ: 6,950.34...+35.23

U.S. Dollar Index: 89.85...-0.30