Feb 19 2019

Texas Daily Ag Market News Summary Posted 5 years 282 days ago by Administrator Account

Daily Market Summary for February 19th  

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 Tuesday, 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 125.00. Dressed purchases in Nebraska traded at 200.00. Last week in the Western Cornbelt, live purchases ranged from 124.00-126.00 with dressed purchases from 199.00-200.00.

 

Negotiated Sales:

Confirmed: 382    Week Ago: 919    Year Ago: 75

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 28,600

Weighted avg weight:           842

Weighted avg net price:   198.98

 

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 148.75 and 148.50 respectively. Prices are 2.00 lower than the previous week. The last time weighted average steer prices closed below 150.00 during the month of February was back in 2014. With fed prices continuing to slide feeding losses are getting worse. Looking at the non-fed market butcher cows traded steady to 1.00 higher through commercial auction facilities last week.

  

Livestock Slaughter under Federal Inspection:                                  

                                  Cattle       Calves     Hogs          Sheep

Tuesday (est            114,000    2,000     481,000     9,000

Week ago (est)        118,000    2,000     453,000     9,000

Year ago (act)          117,000    2,000     444,000     9,000

Week to date (est)  214,000    4,000     957,000    16,000

Last Week (est)       234,000    4,000     897,000    16,000

Last Year (act)         213,000    3,000     875,000    14,000

Previous Day Estimated       Steers & Heifers     Cows & Bulls

                          Monday             76,000                    24,000

 

Boxed Beef: 

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

Cutout Values...                 Choice     Select

Current Cutout Values:     217.27     213.54

Change from prior day:        -0.12       +0.54

Choice/Select spread:           3.73

Total Load Count (Cuts, Trimmings, Grinds):  138

 

Cutter Cow Cutout: 165.17… +0.49

 

CME Feeder Cattle Index: 141.50… +0.19

 

Futures

Live Cattle:

February: 127.87… +1.25

April: 128.45… +1.28

June: 118.60… +0.53

Feeder Cattle:

March: 143.75… +1.15

April: 146.00… +0.78

May: 147.00… +0.43

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April Hogs: 56.52… -3.00

March Crude Oil: 56.09… +0.50

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March Corn: 3.6975… -0.0500

March Soybeans: 9.0075… -0.0675

March Wheat: 4.8975… -0.1450

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Grain Cash Bids:

Kansas City Corn: 3.68… -0.04

Kansas City Soybeans: 8.55… -0.10

Kansas City Wheat: 4.65… -0.14

 

Financial Markets:

Dow Jones Industrial Average: 25,891.32… +7.87

S & P 500: 2,779.76… +4.17

NASDAQ: 7,486.77… +14.36

U.S. Dollar Index: 96.51… -0.27

Cotton (www.ams.usda.gov): 

March Cotton Futures: 70.41… +0.19

Milk (www.cmegroup.com): 

February Class III Milk Futures: 13.98… +0.01