Mar 19 2019

Texas Daily Ag Market News Summary Posted 5 years 254 days ago by Administrator Account

Daily Market Summary for March 19th  

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, trade has been at a standstill in all major feeding regions. Not enough trades for a market trend. Last week in the Southern Plains and Colorado live cash trades moved at 127.00. For the prior week in Nebraska live cash trades move mostly at 127.00, with a few up to 128.00, and dressed cash trades moved at 204.00 on very light test. For the previous week in the Western Cornbelt live cash trades moved from 126.00-128.00 and dressed cash trades ranged from 203.00-206.00.

  

Negotiated Sales:

Confirmed: none --- Week Ago: 7,035 --- Year Ago: 21,630

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 26,800

Weighted avg weight:             836

Weighted avg net price:   204.28

   

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Monday saw new trade to report. This week's showlist has been compiled with volumes smaller than the previous week. Last week on a cash to cash basis Alberta fed prices were at a 15.00 discount against the Nebraska market. With cattle prices at a discount to the US it is not overly surprising Canadian AAA and AA beef cutout values are at a discount to the US as well. Western Canadian steer carcass weights averaged 893 lbs, weights are 2 lbs larger than last year.

  

Livestock Slaughter under Federal Inspection:                                  

                                   Cattle       Calves    Hogs          Sheep

Tuesday (est           120,000    2,000     467,000      9,000

Week ago (est)       120,000    2,000     477,000      9,000

Year ago (act)         119,000    2,000     467,000      9,000

Week to date (est) 235,000    4,000     930,000    20,000

Last Week (est)       239,000    4,000     952,000    17,000

Last Year (act)         237,000    4,000     930,000    19,000

Previous Day (Estimated)     Steers & Heifers     Cows & Bulls

                              Monday             90,000                    25,000

 

Boxed Beef: 

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     229.33     219.46

Change from prior day:       +1.00       +1.25

Choice/Select spread:            9.87

Total Load Count (Cuts, Trimmings, Grinds): 121

 

Cutter Cow Cutout: 168.24… -1.10

 

CME Feeder Cattle Index: 137.67… +0.17

 

Futures

Live Cattle:

April: 129.12… +0.80

June: 122.72… +0.15

August: 118.72… +0.62

Feeder Cattle:

March: 142.25… +0.60

April: 147.80… +1.50

May: 150.52… +2.20

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April Hogs: 70.82… -0.20

April Crude Oil: 59.03… -0.06

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May Corn: 3.7125… -0.0025

May Soybeans: 9.0400… -0.0175

May Wheat: 4.5650… -0.0025

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Grain Cash Bids:

Kansas City Corn: 3.68… Unchanged

Kansas City Soybeans: 8.64… -0.02

Kansas City Wheat: 4.34… Unchanged

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Financial Markets:

Dow Jones Industrial Average: 25,887.38… -26.72

S & P 500: 2,832.57… -0.37

NASDAQ: 7,723.95… +9.47

U.S. Dollar Index: 96.35… -0.17

Cotton (www.ams.usda.gov): 

May Cotton Futures: 75.65… +0.38

Milk (www.cmegroup.com): 

March Class III Milk Futures: 14.93… +0.01