Mar 06 2019

Texas Daily Ag Market News Summary Posted 5 years 267 days ago by Administrator Account

Daily Market Summary for March 6th  

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 Wednesday, negotiated cash trade was inactive on light demand in all major feeding regions. 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, live purchases traded from 128.00-130.00 and dressed purchases traded from 205.00-206.00, bulk at 205.00.

  

Negotiated Sales:

Confirmed: 530 --- Week Ago: 423 --- Year Ago: 11,144

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 16,500

Weighted avg weight:             838

Weighted avg net price:     204.23

   

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Tuesday saw no new trade to report but there is a chance scattered trade could develop by this afternoon. Technical price levels have improved since the beginning of the week. Cash to futures basis levels historically strengthen from February to March. Cow slaughter volumes in Western Canada have been very large since the start of the year. Seasonally cow slaughter volumes should start to moderate giving more hook space to the A grade cattle.   

  

Livestock Slaughter under Federal Inspection:                                  

                                   Cattle       Calves    Hogs          Sheep

Wednesday (est       114,000    3,000      477,000       7,000

Week ago (est)        119,000    3,000      476,000       7,000

Year ago (act)          115,000    2,000      451,000       7,000

Week to date (est)   350,000    7,000   1,420,000    22,000

Last Week (est)        351,000    7,000   1,310,000    23,000

Last Year (act)          349,000    6,000   1,353,000    24,000

Previous Day (Estimated)     Steers & Heifers     Cows & Bulls

                            Tuesday            94,000                  26,000

 

Boxed Beef: 

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

Cutout Values...                 Choice     Select

Current Cutout Values:     224.93     218.37

Change from prior day:       +0.89       +0.58

Choice/Select spread:           6.56

Total Load Count (Cuts, Trimmings, Grinds): 133

 

Cutter Cow Cutout: 166.29… -0.18

 

CME Feeder Cattle Index: 139.59… -0.04

 

Futures

Live Cattle:

April: 128.90… +0.08

June: 119.62… -0.23

August: 115.60… -0.15

Feeder Cattle:

March: 140.65… -0.22

April: 143.65… -0.75

May: 145.42… -0.90

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April Hogs: 57.07… -0.83

April Crude Oil: 56.22… -0.34

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May Corn: 3.7250… -0.0325

May Soybeans: 9.0200… -0.1175

May Wheat: 4.5000… -0.1275

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Grain Cash Bids:

Kansas City Corn: 3.65… -0.01

Kansas City Soybeans: 8.63… -0.05

Kansas City Wheat: 4.25… -0.12

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Financial Markets:

Dow Jones Industrial Average: 25,673.46… -133.51

S & P 500: 2,771.45… -18.20

NASDAQ: 7,505.92… -70.44

U.S. Dollar Index: 96.86… -0.03

Cotton (www.ams.usda.gov): 

March Cotton Futures: 73.05… -0.40

Milk (www.cmegroup.com): 

March Class III Milk Futures: 15.19… +0.07