Mar 07 2019

Texas Daily Ag Market News Summary Posted 5 years 266 days ago by Administrator Account

Daily Market Summary for March 7th   

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 has been moderate on moderate demand in the Southern Plains with live purchases trading steady with last week at 128.00. In Nebraska, trade has been light to moderate on moderate demand with a few live purchases from 128.00-128.50, however not enough for an accurate market trend. The latest established market in the Nebraska was last week, with live purchases from 128.00-129.00, bulk at 128.00, and dressed purchases at 205.00. In the Western Cornbelt trade has been mostly inactive on light demand, not enough for an accurate market trend. Last week 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: 35,727 --- Week Ago: 329 --- Year Ago: 72,972

 

Formula Net - Dressed Steers & Heifers:

Head count priced today: 29,300

Weighted avg weight:             833

Weighted avg net price:    204.39

   

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Wednesday saw light trade develop with dressed sales marked at 257.00 delivered. Sales are 3.00-6.00 higher than the previous week. US packer interest has been noted and bids are at a premium over local sales. If local bids do not improve further, more inquiries will be made to the US.  

  

Livestock Slaughter under Federal Inspection:                                  

                                   Cattle       Calves    Hogs          Sheep

Thursday (est          116,000     3,000      475,000      7,000

Week ago (est)       118,000     3,000      476,000       7,000

Year ago (act)          120,000     1,000      467,000      9,000

Week to date (est) 466,000   10,000   1,895,000    29,000

Last Week (est)       469,000   10,000   1,786,000    30,000

Last Year (act)          469,000     7,000   1,820,000    33,000

Previous Day (Estimated)     Steers & Heifers     Cows & Bulls

                      Wednesday            88,000                   26,000

 

Boxed Beef: 

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

Cutout Values...                 Choice     Select

Current Cutout Values:     226.04     218.54

Change from prior day:      +1.11       +0.17

Choice/Select spread:          7.50

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

 

Cutter Cow Cutout: 166.31… +0.02

 

CME Feeder Cattle Index: 139.76… +0.17

 

Futures

Live Cattle:

April: 128.95… +0.05

June: 120.35… +0.73

August: 116.52… +0.92

Feeder Cattle:

March: 142.90… +2.25

April: 146.00… +2.35

May: 147.07… +1.65

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April Hogs: 57.72… +0.65

April Crude Oil: 56.66… +0.44

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May Corn: 3.6525… -0.0725

May Soybeans: 9.0250… +0.0500

May Wheat: 4.3825… -0.1175

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Grain Cash Bids:

Kansas City Corn: 3.58… -0.07

Kansas City Soybeans: 8.64… +0.01

Kansas City Wheat: 4.13… -0.12

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Financial Markets:

Dow Jones Industrial Average: 25,473.23… -200.23

S & P 500: 2,748.93… -22.52

NASDAQ: 7,421.46… -84.46

U.S. Dollar Index: 97.68… +0.82

Cotton (www.ams.usda.gov): 

March Cotton Futures: 71.90… -1.15

Milk (www.cmegroup.com): 

March Class III Milk Futures: 15.09… -0.10