Feb 04 2019

Texas Daily Ag Market News Summary Posted 5 years 297 days ago by Administrator Account

Daily Market Summary for February 4th   

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 Monday, negotiated cash trade was mostly inactive on light demand in all feeding regions. The latest established market in any feeding region was last week, with live purchases in the Southern Plains and Nebraska at 124.00. Dressed purchases in Nebraska last week ranged from 198.00-199.00, bulk at 198.00. In the Western Cornbelt, last week live purchases traded from 123.00-126.00 with dressed purchases from 197.00-200.00.

 

Negotiated Sales:

Confirmed: 38    Week Ago: none    Year Ago: 349

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 51,800

Weighted avg weight:       837.00

Weighted avg net price:   196.40

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales last week saw light trade develop with weighted average steer prices closing the week at 155.00. Prices are 5.00 lower than the previous week. Fed prices are trading at their lowest point in six weeks. Both local and US packers bought cattle last week. Looking at the non-fed market butcher cows traded 1.00 lower through commercial auction facilities last week. Western Canadian cow prices are trading at a premium against the US utility market.

 

Livestock Slaughter under Federal Inspection:                                  

                                  Cattle       Calves    Hogs         Sheep

Monday (est           118,000    2,000     478,000     8,000

Week ago (est)       118,000    2,000     470,000     6,000

Year ago (act)        112,000    2,000     461,000     8,000

Previous Day Estimated -- Steers & Heifers -- Cows & Bulls

                                Friday         82,000                  22,000

                             Saturday       23,000                    3,000

 

Boxed Beef: 

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

Cutout Values...                 Choice     Select

Current Cutout Values:     217.65     213.41

Change from prior day:      +3.39       +0.26

Choice/Select spread:          4.24

Total Load Count (Cuts, Trimmings, Grinds): 81

 

Cutter Cow Cutout: 161.38… +0.41

 

CME Feeder Cattle Index: 141.01… -0.85

 

Futures

Live Cattle:

February: 125.72… +0.27

April: 127.00… +0.73

June: 117.00… +0.85

Feeder Cattle:

March: 144.22… +1.70

April: 145.82… +1.82

May: 146.37… +1.77

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February Hogs: 57.37… +1.02

March Crude Oil: 54.56… -0.70

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March Corn: 3.7925… +0.0100

March Soybeans: 9.1850… +0.0075

March Wheat: 5.2575… +0.0150

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Grain Cash Bids:

Kansas City Corn: 3.71… +0.01

Kansas City Soybeans: 8.65… +0.01

Kansas City Wheat: 5.00… +0.01

 

Financial Markets:

Dow Jones Industrial Average: 25,239.37… +175.48

S & P 500: 2,724.87… +18.34

NASDAQ: 7,247.87… +83.67

U.S. Dollar Index: 95.85… +0.26

Cotton (www.ams.usda.gov): 

March Cotton Futures: 72.76… -0.88

Milk (www.cmegroup.com): 

February Class III Milk Futures: 13.94… -0.09