Feb 14 2019

Texas Daily Ag Market News Summary Posted 5 years 287 days ago by Administrator Account

Daily Market Summary for February 14th  

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 Thursday, negotiated cash trading in the Southern Plains has been at a standstill. In Nebraska and the Western Cornbelt negotiated cash trading has been limited on light demand. In the Western Cornbelt a few live cash trades moved at 124.00. However, not enough trades for a market trend.  For the prior week in the Southern Plains live cash trades moved at 125.00. Last week in Nebraska live cash trades moved mostly from 125.00-125.50 and dressed cash trades moved at 200.00. For the prior week in the Western Cornbelt live cash trades ranged from 124.50-126.00 and dressed cash trades moved at 200.00.

 

Negotiated Sales:

Confirmed: 2,759    Week Ago: 1,584    Year Ago: 330

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 31,600

Weighted avg weight:           866

Weighted avg net price:   200.55

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Wednesday saw no new trade to report. Dressed bids have been reported at 250.00 delivered. Bids are positioned at the bottom end of last weeks trading range. No live bids have been reported however using a 60% dressing percentage, dressed bids are working on either side 150.00 on a live basis. Local buying interest remains light on the western Canadian cash market.

 

Livestock Slaughter under Federal Inspection:                                  

                                 Cattle       Calves    Hogs         Sheep

Thursday  (est       117,000     3,000      470,000     7,000

Week ago (est)      117,000     2,000      434,000     7,000

Year ago (act)        119,000     1,000      463,000     7,000

Week to date (est) 459,000   10,000   1,831,000    30,000

Last Week (est)     470,000     8,000   1,857,000    30,000

Last Year (act)       465,000     7,000   1,857,000    28,000

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

                         Wednesday      83,000                   25,000

 

Boxed Beef: 

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

Cutout Values...                 Choice     Select

Current Cutout Values:     216.07     210.41

Change from prior day:       -0.37       -1.60

Choice/Select spread:           5.66

Total Load Count (Cuts, Trimmings, Grinds):  113

 

Cutter Cow Cutout: 163.92… -0.51

 

CME Feeder Cattle Index: 141.50… -0.29

 

Futures

Live Cattle:

February: 126.12… +0.17

April: 127.37… +0.40

June: 118.27… +0.47

Feeder Cattle:

March: 144.07… +0.55

April: 146.50… +0.43

May: 147.67… +0.42

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April Hogs: 58.70… -1.07

March Crude Oil: 54.41... +0.51

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March Corn: 3.7475… -0.0400

March Soybeans: 9.0350… -0.1300

March Wheat: 5.0700… -0.1525

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Grain Cash Bids:

Kansas City Corn: 3.72… -0.04

Kansas City Soybeans: 8.60… -0.13

Kansas City Wheat: 4.82… -0.15

 

Financial Markets:

Dow Jones Industrial Average: 25,539.39... -103.88

S & P 500: 2,745.73... -7.30

NASDAQ: 7,426.95... +6.57

U.S. Dollar Index: 97.05... -0.15

Cotton (www.ams.usda.gov): 

March Cotton Futures: 70.13… +0.27

Milk (www.cmegroup.com): 

February Class III Milk Futures: 13.98… -0.03