Feb 13 2019

Texas Daily Ag Market News Summary Posted 5 years 288 days ago by Administrator Account

Daily Market Summary for February 13th  

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 Wednesday, negotiated cash trade was inactive on light demand in the Southern Plains and Nebraska. Trade was limited on light to moderate demand in the Western Cornbelt. A limited amount of live purchases were reported from 123.00-124.00 and dressed purchases from 199.00-200.00 in the Western Cornbelt, however not enough for an adequate market test. The latest established market in any feeding region was last week, with live purchases in the Southern Plains at 125.00. For the prior week in Nebraska, live purchases traded mostly from 125.00-125.50 with dressed purchases 200.00. For previous week in the Western Cornbelt, live purchases traded mostly from 124.50-126.00 with dressed purchases at 200.00.

 

Negotiated Sales:

Confirmed: 3,086    Week Ago: 1,554    Year Ago: 545

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 18,400

Weighted avg weight:       864.00

Weighted avg net price:    201.04

  

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Tuesday saw no new trade to report, but there is a chance scattered trade could develop by this afternoon. Technical price levels have eased from the beginning of the week. Given the sharp pull back in fed prices over the past two weeks the market has limited downside risk. We will have to wait and see but US packers could be more of a factor this week. Steady to higher fed prices are expected this week.

 

Livestock Slaughter under Federal Inspection:                                  

                                   Cattle       Calves    Hogs         Sheep

ednesday (est         108,000    3,000       464,000      7,000

Week ago (est)       117,000    2,000       473,000      7,000

Year ago (act)          116,000    2,000      466,000      7,000

Week to date (est)  342,000    7,000   1,361,000    23,000

Last Week (est)       353,000    6,000   1,423,000    23,000

Last Year (act)         346,000    6,000   1,394,000    21,000

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

                           Tuesday          93,000                  25,000

 

Boxed Beef: 

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

Cutout Values...                 Choice     Select

Current Cutout Values:     216.44     212.01

Change from prior day:       -0.72       -0.99

Choice/Select spread:            4.43

Total Load Count (Cuts, Trimmings, Grinds):  128

 

Cutter Cow Cutout: 164.43… -0.26

 

CME Feeder Cattle Index: 141.79… +0.13

 

Futures

Live Cattle:

February: 125.95… -0.87

April: 126.97… -0.90

June: 117.80… -0.35

Feeder Cattle:

March: 143.52… -0.88

April: 146.07… -0.58

May: 147.25… -0.42

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April Hogs: 59.77… -0.55

March Crude Oil: 53.90… +0.80

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March Corn: 3.7875… +0.0050

March Soybeans: 9.1650… -0.0100

March Wheat: 5.2225… +0.0225

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Grain Cash Bids:

Kansas City Corn: 3.76… +0.06

Kansas City Soybeans: 8.73… +0.02

Kansas City Wheat: 4.97… +0.02

 

Financial Markets:

Dow Jones Industrial Average: 25,542.73… +116.97

S & P 500: 2,753.01… +8.28

NASDAQ: 7,420.38… +5.76

U.S. Dollar Index: 97.17… +0.47

Cotton (www.ams.usda.gov): 

March Cotton Futures: 69.86… +0.08

Milk (www.cmegroup.com): 

February Class III Milk Futures: 14.01… +0.01