Mar 27 2019

Texas Daily Ag Market News Summary Posted 5 years 246 days ago by Administrator Account

Daily Market Summary for March 27th  

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, in all major feeding regions negotiated cash trading has been slow on moderate demand. In the Southern Plains, when compared to last week, live cash trades have moved 2.00 to 3.00 lower from 125.00 to 126.00. In Nebraska a few early live and dressed cash trades have moved from 126.00 to 127.00 and 206.00, respectively. In Colorado a few early live cash trades have moved at 126.00. In the Western Cornbelt a few early live and dressed cash trades have moved from 128.00 to 129.00 and 205.00, respectively. However, not enough cash trades in these regions for a full market trend. The last fully reported market was last week. In the Northern Plains live cash trades moved at 129.00 and dressed cash trades, in Nebraska, moved mostly at 208.00 with a few up to 209.00. In the Western Cornbelt live cash trades ranged from 129.00-131.00and dressed cash trades moved at 208.00.

  

Negotiated Sales:

Confirmed: 29,960 --- Week Ago: 241 --- Year Ago: 12,400

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 15,000

Weighted avg weight: 824.00

Weighted avg net price: 205.63

   

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 eased since Monday. A large percentage of the summer placed yearling have been worked through and we are probably a few weeks away from seeing fed calves hit the market. With weak basis levels and fed prices below last year it is likely safe to assume producers will not be selling fed calves ahead of schedule. 

 

Livestock Slaughter under Federal Inspection:                                  

                                  Cattle       Calves     Hogs         Sheep

Wednesday (est     120,000    3,000      477,000      8,000

Week ago (est)       120,000    3,000      479,000      8,000

Year ago (act)          117,000    2,000      464,000     8,000

Week to date (est) 358,000    7,000   1,422,000    26,000

Last Week (est)       355,000    7,000   1,409,000    28,000

Last Year (act)         352,000    5,000   1,384,000    28,000

Previous Day (Estimated)  Steers & Heifers     Cows & Bulls

                            Tuesday         94,000                   25,000

 

Boxed Beef: 

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     228.99     220.53

Change from prior day:        -0.52       +1.54

Choice/Select spread:            8.46

Total Load Count (Cuts, Trimmings, Grinds): 157

 

Cutter Cow Cutout: 168.44… -0.23

 

CME Feeder Cattle Index: 142.15… +0.11

 

Futures

Live Cattle:

April: 126.25… -0.65

June: 119.60… -1.12

August: 116.65… -0.92

Feeder Cattle:

March: 142.12… -0.63

April: 145.90… -0.32

May: 149.52… -0.28

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April Hogs: 81.32… +1.60

April Crude Oil: 59.41... -0.53

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May Corn: 3.7375… -0.0350

May Soybeans: 8.8750… -0.1325

May Wheat: 4.6950… +0.0025

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Grain Cash Bids:

Kansas City Corn: 3.73… -0.02

Kansas City Soybeans: 8.49… -0.13

Kansas City Wheat: 4.47… Unchanged

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Financial Markets:

Dow Jones Industrial Average: 25,625.59… -32.14

S & P 500: 2,805.37… -13.09

NASDAQ: 7,643.38… -48.14

U.S. Dollar Index: 96.88… -0.09