Mar 05 2019

Texas Daily Ag Market News Summary Posted 5 years 268 days ago by Administrator Account

Daily Market Summary for March 5th  

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 the Western Cornbelt. A few early live purchases were reported in the Western Cornbelt at 127.00, however not enough purchases for a market trend. The latest established market in any feeding region was last week, with live purchases in the southern and northern plains at 128.00. In Nebraska last week, dressed purchases traded at 205.00. In the Western Cornbelt last week, live purchases traded from 128.00-130.00 and dressed purchases traded from 205.00-206.00, bulk at 205.00.

    

Negotiated Sales:

Confirmed: 1,253 --- Week Ago: 514 --- Year Ago: 3,495

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 19,300

Weighted avg weight:             844

Weighted avg net price:    202.52

   

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Monday saw no new trade to report. This week's showlist has been compiled with volumes larger than the previous week. For the week ending February 23rd western Canadian steer carcass weights averaged 901lbs, weights are 7lbs larger than the same time last year. Looking at western Canadian slaughter data, 2019 YTD steer slaughter volumes are up 5% compared to last year while heifer slaughter volumes are up 20%. 

  

Livestock Slaughter under Federal Inspection:                                  

                                   Cattle       Calves    Hogs          Sheep

Tuesday (est           120,000    2,000     478,000      8,000

Week ago (est)       118,000    2,000     473,000      8,000

Year ago (act)         116,000    2,000     454,000      9,000

Week to date (est)  236,000    4,000     943,000    15,000

Last Week (est)       232,000    4,000     834,000    16,000

Last Year (act)         234,000    4,000     902,000    17,000

Previous Day (Estimated)     Steers & Heifers     Cows & Bulls

                             Monday           92,000                   24,000

 

Boxed Beef: 

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

Cutout Values...                 Choice     Select

Current Cutout Values:     224.04     217.17

Change from prior day:       +0.49       +0.58

Choice/Select spread:           6.25

Total Load Count (Cuts, Trimmings, Grinds): 115

 

Cutter Cow Cutout: 166.47… +0.65

 

CME Feeder Cattle Index: 139.63… +0.04

 

Futures

Live Cattle:

April: 128.82… +0.47

June: 119.85… +0.05

August: 115.75… No Change

Feeder Cattle:

March: 140.87… -0.33

April: 144.40… -0.62

May: 146.32… -0.80

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April Hogs: 57.90… +0.58

April Crude Oil: 56.56… -0.03

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May Corn: 3.7575… +0.0100

May Soybeans: 9.1375… -0.0225

May Wheat: 4.6275… +0.0725

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Grain Cash Bids:

Kansas City Corn: 3.66… +0.02

Kansas City Soybeans: 8.68… -0.02

Kansas City Wheat: 4.37… +0.07

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Financial Markets:

Dow Jones Industrial Average: 25,806.97... -12.68

S & P 500: 2,789.65... -3.16

NASDAQ: 7,576.36... -1.21

U.S. Dollar Index: 96.84... +0.20

Cotton (www.ams.usda.gov): 

March Cotton Futures: 73.45… +1.48

Milk (www.cmegroup.com): 

March Class III Milk Futures: 15.12… -0.01