Feb 21 2019

Texas Daily Ag Market News Summary Posted 5 years 280 days ago by Administrator Account

Daily Market Summary for February 21st  

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 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: 154 --- Week Ago: 2,759 --- Year Ago: 25,181

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 19,000

Weighted avg weight:            836

Weighted avg net price:   198.65

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Wednesday saw no new trade to report, live bids have been reported in the upper 140's and are 1.50 lower than last week's weighted average price. Dressed bids have been reported at 245.00 delivered. The story remains the same as last week, one packer seems to be more aggressive than the others. There are some big cattle out there that will have to be marketed.

  

Livestock Slaughter under Federal Inspection:                                  

                                  Cattle       Calves     Hogs          Sheep

Thursday (est          114,000     3,000     475,000       7,000

Week ago (est)        117,000     3,000     470,000      7,000

Year ago (act)          118,000     2,000     460,000       8,000

Week to date (est)   436,000   10,000   1,890,000    30,000

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

Year (act)                  444,000    7,000   1,799,000    30,000

Previous Day (Estimated)     Steers & Heifers     Cows & Bulls

                       Wednesday             82,000                   26,000

 

Boxed Beef: 

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

Cutout Values...                 Choice     Select

Current Cutout Values:     218.07     211.41

Change from prior day:       +1.58        -0.09

Choice/Select spread:           6.66

Total Load Count (Cuts, Trimmings, Grinds):  106

 

Cutter Cow Cutout: 164.35… +0.07

 

CME Feeder Cattle Index: 141.11… +0.01

 

Futures

Live Cattle:

February: 127.62… -0.70

April: 128.60… -0.60

June: 119.25… -0.07

Feeder Cattle:

March: 143.22… -0.65

April: 145.52… -0.55

May: 146.87… -0.13

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April Hogs: 55.95… +2.98

April Crude Oil: 56.96… -0.20

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March Corn: 3.7550… +0.0475

March Soybeans: 9.1100… +0.0850

March Wheat: 4.8650… +0.0575

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Grain Cash Bids:

Kansas City Corn: 3.73… +0.04

Kansas City Soybeans: 8.66… +0.09

Kansas City Wheat: 4.62… +0.06

 

Financial Markets:

Dow Jones Industrial Average: 25,850.63… -103.81

S & P 500: 2,774.88… -9.82

NASDAQ: 7,459.71… -29.36

U.S. Dollar Index: 96.60… +0.09

Cotton (www.ams.usda.gov): 

March Cotton Futures: 72.19… +1.91

Milk (www.cmegroup.com): 

February Class III Milk Futures: 14.00… -0.01