Texas Daily Ag Market News Summary

Slaughter Cattle:  Thus far for Monday trading in the Southern and Northern Plains has been at 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 at 117.00. In Kansas live cash trades were from 118.00-120.00. For the prior week in Nebraska live cash trades were mostly 122.00 and dressed trades were at 190.00. In the Western Cornbelt live cash trades were from 119.00-123.00 and dressed trades were at 190.00. In Colorado from two weeks ago live cash trades were at 119.50.

Negotiated Sales: Confirmed: 254   Week Ago: 272   Year Ago: 136 
 

Formula Purchases: Net - Dressed 
Head count priced today: 36,800 
Weighted avg weight:       843.00 
Weighted avg net price:   188.07 
 

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 155.00 and 154.00 respectively. Prices are steady to 0.50 lower than the previous week. All reported cash sales traded locally. Looking at the non-fed market butcher cows and bulls traded 2.00-3.00 higher through commercial auction facilities last week. Butcher bull prices established new annual highs last week.

Livestock Slaughter under Federal Inspection: 
                         Cattle      Calves   Hogs         Sheep 
Monday  (est     116,000    2,000     464,000     7,000 
Week ago (est) 118,000    2,000     450,000     7,000 
Year ago (act)   107,000    2,000     304,000     6,000 
 

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

Cutout Values...            Choice        Select 
Current Cutout Values:    211.79         199.98 
Change from prior day:       -0.82           +0.07 
Choice/Select spread:       11.81

Futures Summary: 

April Live Cattle Futures: 117.15...+0.60

June Live Cattle Futures: 104.17...+0.52

August Live Cattle Futures: 104.20... -0.07

April Feeder Cattle Futures: 139.22... -0.15

May Feeder Cattle Futures: 140.37... Unchanged

Aug Feeder Cattle Futures: 144.77... -0.33

CME Feeder Cattle Index: 137.59... +1.17

May Lean Hog Futures: 66.22... -1.53

National Grain Market Summary:  Compared to Friday, cash bids for wheat and corn were mixed, soybeans were lower, while sorghum had no comparison.  Heavy snow was dumped across the Northern Plains and temperatures are expected to remain below average for most of the Corn Belt this week.  The soybean market remains fundamentally divided with tight supplies and rising prices in Brazil while here in the U.S., supplies are comfortable and demand is sluggish.  The demand side of winter wheat remains bearish with weak commercial interest and a low pace of exports. 
 

Kansas City Corn: 3.69... -0.04

Kansas City Soybeans: 10.14... -0.12

Kansas City Wheat: 4.68... -0.18

May Corn Futures: 3.8250... -0.0375

May Soybean Futures: 10.4200... -0.1225

May Wheat Futures: 4.6225... -0.1025

Nearby Crude Oil Futures Contract: 66.22... -1.17

Dow Jones Industrial Average: 24,574.31... +214.17

NASDAQ: 7,156.28...+49.63

U.S. Dollar Index: 89.46... -0.38