Mar 01 2019

Texas Daily Ag Market News Summary Posted 5 years 272 days ago by Administrator Account

Daily Market Summary for March 1st  

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 Friday, trade and demand has been moderate in Nebraska and the Western Cornbelt. In Nebraska, live purchases have traded from 128.00-129.00 with dressed purchases trading 3.00 higher than last week at 205.00. In the Western Cornbelt, live purchases have traded 2.00-3.50 higher than last week from 128.00-130.00 and dressed purchases mostly 3.00 higher than last week at 205.00 with a few up to 206.00. Trade has been slow on moderate demand in all other feeding regions. Not enough purchases for a market trend. Last week in Kansas, live purchases traded at 126.00 on a light test. The latest established market in the Texas Panhandle was two weeks ago with live purchases at 125.00.

 

Negotiated Sales:

Confirmed: 38,758 --- Week Ago: 7,141 --- Year Ago: 5,487

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 17,900

Weighted avg weight:            838

Weighted avg net price:    200.27

   

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Thursday saw light trade develop with dressed sales ranging from 251.00-253.00 delivered. Prices are 3.00-6.00 higher than last week. Buyers were indicating cattle that they bought this week would not be lifted until the second half of March. All three western Canadian packers bought cattle this week. Even though basis levels remain disappointing stronger prices week over week did encourage producers to market cattle.

  

Livestock Slaughter under Federal Inspection:                                  

                                   Cattle        Calves    Hogs             Sheep

Friday (est                115,000    2,000        471,000       7,000

Week ago (est)        114,000    2,000        472,000       8,000

Year ago (act)          114,000    2,000        452,000       7,000

Week to date (est)   584,000   12,000    2,257,000     37,000

Last Week (est)       550,000   12,000    2,362,000     38,000

Last Year (act)         583,000     9,000    2,291,000     38,000

Saturday (est             19,000        0            192,000        1,000

Week ago (est)          27,000        0            132,000        1,000

Year ago (act)            27,000      1,000      128,000        1,000

Week to date (est)   603,000    12,000   2,449,000      38,000

Last Week (est)       577,000    12,000   2,494,000      39,000

Last Year* (act)       611,000    10,000   2,419,000      39,000

2019 YTD              5,330,000  105,000  21,709,000   324,000

2018 YTD              5,354,000    93,000  21,275,000   324,000

Percent change         -0.4%       12.8%       2.0%          -0.1%

Previous Day (Estimated)     Steers & Heifers     Cows & Bulls

                             Thursday          94,000                  24,000                      

 

Boxed Beef: 

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

Cutout Values...                 Choice     Select

Current Cutout Values:     221.29     216.79

Change from prior day:       +1.34       +1.52

Choice/Select spread:           4.50

Total Load Count (Cuts, Trimmings, Grinds): 75

 

Cutter Cow Cutout: 164.88… -0.66

 

CME Feeder Cattle Index: 139.23… -0.71

 

Futures

Live Cattle:

April: 129.55… -0.30

June: 120.42… +0.27

August: 116.27… +0.37

Feeder Cattle:

March: 141.22… -1.65

April: 145.05… -1.10

May: 146.52… -0.73

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April Hogs: 56.40… +0.53

April Crude Oil: 55.80... -1.42

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March Corn: 3.6400… +0.0200

March Soybeans: 8.9925… -0.0175

March Wheat: 4.5400… +0.0150

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Weekly National Grain Market Review

Compared to last week, cash bids for wheat, corn, soybeans and sorghum were mostly lower.  Export sales for week ending February 21st totaled 48.8 million bushels of corn, 80.7 million bushels of soybeans, and 17.5 million bushels of wheat.  Ethanol production for the week ending February 21st saw a 33,000 barrel per day increase compared to the week prior. Wheat was 35 cents lower to 17 cents higher.  Corn was 4 to 14 cents lower.  Sorghum was 17 to 24 cents lower.  Soybeans were 4 to 14 cents lower.

Grain Cash Bids:

Kansas City Corn: 3.61… +0.02

Kansas City Soybeans: 8.63… +0.04

Kansas City Wheat: 4.31… +0.02

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Financial Markets:

Dow Jones Industrial Average: 26,026.45… +110.45

S & P 500: 2,803.77… +19.28

NASDAQ: 7,595.35… +62.82

U.S. Dollar Index: 96.51… +0.29

Cotton (www.ams.usda.gov): 

March Cotton Futures: 72.73… +0.99

Milk (www.cmegroup.com): 

March Class III Milk Futures: 15.20… -0.04