Feb 11 2019

Texas Daily Ag Market News Summary Posted 5 years 290 days ago by Administrator Account

Daily Market Summary for February 11th  

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 trading has been at a standstill in the Southern Plains and Nebraska. In the Western Cornbelt negotiated cash trading has been inactive on very light demand. Not enough trades for a market trend. Last week in the Southern Plains live cash trades moved at 125.00. For the prior week in Nebraska live cash trades moved mostly from 125.00-125.50 and dressed cash trades moved at 200.00. For previous week in the Western Cornbelt live cash trades moved mostly from 124.50-126.00 and dressed cash trades moved at 200.00.

 

Negotiated Sales:

Confirmed: 169    Week Ago: 38    Year Ago: 598

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 46,800

Weighted avg weight:        840.00

Weighted avg net price:    197.37

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales last week light trade develop with weighted average steer and heifer prices closing the week at 151.25 and 150.75 respectively. Prices are 3.00 lower than the previous week. Fed cattle prices are now sitting 12.00 lower than last year. From a margin perspective some cattle being marketed right now could be losing as much as 200.00/ head. Looking at the non-fed market butcher cows traded 0.50-1.00 lower through commercial auction facilities last week. With cold temperatures last week non-fed volumes through commercial auction volumes were light.

 

Livestock Slaughter under Federal Inspection:                                  

                                    Cattle       Calves    Hogs         Sheep

Monday (est               116,000    2,000     444,000     7,000

Week ago (est)          118,000    2,000     472,000     8,000

Year ago (act)            111,000    2,000     462,000     6,000

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

                                  Friday         91,000                   24,000

                               Saturday        21,000                   14,000

 

Boxed Beef: 

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

Cutout Values...                 Choice     Select

Current Cutout Values:     216.88     213.86

Change from prior day:      +1.53       +2.69

Choice/Select spread:          3.02

Total Load Count (Cuts, Trimmings, Grinds):  78

 

Cutter Cow Cutout: 163.77… +0.34

 

CME Feeder Cattle Index: 141.73… +0.04

 

Futures

Live Cattle:

February: 127.82… +0.45

April: 128.30… +0.38

June: 118.37… +0.27

Feeder Cattle:

March: 144.67… +0.57

April: 146.67… +0.77

May: 147.67… +0.77

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February Hogs: 55.17… +0.12

March Crude Oil: 52.41… -0.31

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March Corn: 3.7275… -0.0150

March Soybeans: 9.0500… -0.0950

March Wheat: 5.1825… +0.0100

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Grain Cash Bids:

Kansas City Corn: 3.64… -0.02

Kansas City Soybeans: 8.59… -0.07

Kansas City Wheat: 4.93… +0.01

 

Financial Markets:

Dow Jones Industrial Average: 25,053.11… -53.22

S & P 500: 2,709.80… +1.92

NASDAQ: 7,307.91… +9.71

U.S. Dollar Index: 97.06… +0.41

Cotton (www.ams.usda.gov): 

March Cotton Futures: 70.55… -2.00

Milk (www.cmegroup.com): 

February Class III Milk Futures: 13.99… +0.01